The 25th sale of the 2019/20 wool season took place today with 5 382 bales on offer of which 87,9% was sold. The wool market closed 6,4% (988 points) up at a value of R165,57 c/kg (Clean). The Australian EMI moved 1,5% down this week.

This week saw the Rand at 9,8% weaker against the US Dollar and 9,5% weaker against the Euro, compared with the average rate at the previous sale. The market weakened by 3,1% in US Dollar terms.

Amidst the current Corona virus lockdown in South Africa, an electronic sale of bales already in brokers’ stores, valued and tested could be held this week. It is the first wool sale of this nature and although not without teething problems and being time consuming, could be completed

successfully over the last two days. As the volumes were limited, the sale only consisted of 5382 bales of mixed length long & medium wools. There was better demand for the fine microns, with some of the stronger micron wools experiencing downward pressure, with some hesitancy evident from buying houses. The market performed well to gain 6.4% from the previous sale, although the market was down in US$ terms and performed at levels comparable to the Australian market, which was down 1.5% in AU$ terms this week. The major buyers on today’s sale were: Lempriere SA (2 528), Standard Wool SA (1 028), Stucken & Co (612) and Modiano SA (499).

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 13,1% to close at R188,73/kg; 18,5 microns moved 7,0% up to close at R176,24/kg; 19 microns gained 7,0% to close at R172,83/kg; 19,5 microns strengthened by 5,2% to close at R169,40/kg; 20 microns was 5,3% stronger to close at R169,20/kg; 20,5 microns won 6,3% to close at R168,90/kg; 21,0 microns recovered 7,8% to close at R164,97/kg; 21,5 microns improved by 3,3% to close at R167,40kg; 22 microns rose 6,2% to close at 165,56/kg and 22,5 microns declined by 0,2% to close at R156,02/kg.

The next sale is scheduled for 30 April 2020 where approximately ±14 197 bales will be on sale.