Port Elizabeth - The 21st sale of the 2019/20 wool season took place today with 9 222 bales on offer of which 94,3% was sold. The wool market closed 1,8% (325 points) up at a value of R184,82 c/kg (Clean). This week saw the Rand at 1,5% weaker against the US Dollar and 2,9% weaker against the Euro, compared with the average rate at the previous sale. The market improved by 0,2% in US Dollar terms. Despite no Australian sale taking place this week due to an ongoing system outage on the major industry software systems suppliers' platform, the wool market continued its upward trend. The auction started at similar levels as last week, but improved throughout the sale, to close 1.8% up on R184.82 p/kg. The continuing weakening of the SA currency assisted in achieving better price levels on today’s sale, with a good sale’s clearance of 94.3%. Long fine merino fleeces were in good demand and lifted the market, especially taking into account that a large portion of the offering consisted of crossbred and non-merino type wools. The major buyers on today’s sale were: Modiano SA (4 041), Standard Wool SA (2 643), Lempriere SA (954) and Stucken & Co (564). 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 0,5% to close at R201,32/kg; 18,5 microns moved 1,1% up to close at R196,61/kg; 19 microns gained 3,8% to close at R194,37/kg; 19,5 microns strengthened by 2,1% to close at R195,33/kg; 20 microns was 2,1% stronger to close at R188,38/kg; 20,5 microns won 1,7% to close at R183,53/kg; 21,0 microns recovered 1,6% to close at R184,42/kg; 21,5 microns improved by 1,9% to close at R183,53kg; 22 microns rose 1,1% to close at 182,16/kg and 22,5 microns climbed by 4,1% to close at R177,34/kg.

The next sale is scheduled for 05 March 2020 where approximately ±12 065 bales will be on sale.