Port Elizabeth - The 20th sale of the 2019/20 wool season took place today with 10 219 bales on offer of which 94,7% was sold. The wool market closed 2,0% (351 points) up at a value of R181,57 c/kg (Clean), with the Cape Wools All Wool Indicator closing 1,9% higher. The Australian EMI moved 0,8% up this week. 

This week saw the Rand at 1,2% weaker against the US Dollar and 0,4% weaker against the Euro, compared with the average rate at the previous sale. The market improved by 0,7% in US Dollar terms.

The wool market continued its positive trend and opened positively on the first day, with the market strengthening and competition improving throughout the sale, to close 2.0% up. The good quality offering of long, fine merino fleeces attracted even better competition, with a sales clearance of 94.7%. All micron categories showed a positive upward trend. 

The Australian market was slightly up this week and with the weaker SA currency and good quality wool on offer, resulted in very positive prices for the South African market. The major buyers on today’s sale were: Modiano SA (3 636), Standard Wool SA (2 850), Lempriere SA (1 314) and Tianyu SA (1 064).

The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18,0 microns increased 2,5% to close at R200,26/kg; 18,5 microns moved 1,9% up to close at R194,49/kg; 19 microns gained 2,6% to close at R187,17/kg; 19,5 microns strengthened by 3,0% to close at R191,36/kg; 20 microns was 2,1% stronger to close at R184,56/kg; 20,5 microns won 2,0% to close at R180,54/kg; 21,0 microns recovered 3,4% to close at R181,54/kg; 21,5 microns improved by 0,7% to close at R180,05kg; 22 microns rose 0,8% to close at 180,09/kg and 22,5 microns climbed by 2,3% to close at R170,29/kg.

The next sale is scheduled for 27 February 2020 where approximately ±8 777 bales will be on sale.