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Wool market firms |
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2011-5-13
The wool market was firmer at this week's sale and Cape Wools' Merino indicator gained 1.2% on last week to close at R84.71/kg (clean).
The rand has been somewhat erratic this week and was trading 2% weaker against the US dollar compared with last week's average rate at R6.72. The Euro, at R9.66, had appreciated by 1.1% against the rand.
There was keen demand from the various sectors of the trade for the good quality fleeces.
A total of 9 690 bales was on offer of which 94% was sold.
Major buyers were Standard Wool SA (2 756 bales), Modiano SA (2 429 bales) and Stucken & Co (2 308 bales).
Average prices for good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19.5 microns were 0.8% dearer at R100.25/kg; 20 microns gained 1.5% to close at R92.32/kg; 20.5 microns were down 0.8% at R86.34/kg; 21 microns rose 2.5% to R86.88/kg, and 21.5 microns were 2.9% dearer to close at R84.33/kg.
No sale has been scheduled for next week. The next sale will be on 25 May.
Source:Cape Wools SA
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