Port Elizabeth - The wool market continued to deliver positive results today, with the market gaining 1.3% from the previous sale, however there was a lower sales clearance of 83.7%, mainly due to reoffers being passed in. The wool market closed at a value of R144,36 c/kg (Clean). The Australian EMI moved 0,4% up this week.

This week saw the Rand at 0,5% stronger against the US Dollar and 1,1% stronger against the Euro, compared with the average rate at the previous sale. A significant gain in US$ terms of 1.8% was achieved. The Rand started off slightly weaker against the US$ compared to the last sale, but strengthened gradually throughout the day, eventually closing 0.5% stronger against the US$. The offering consisted of 7702 bales , with the biggest portion consisting of good quality fine merino fleeces, which attracted good competition from the buyers.

With the new season of the Australian market closing in positive territory today (in AU$), improved sentiment and better demand for good quality wools, pushed the market up, with the broader micron categories and short wools trading easier. The major buyers on today’s sale were: Standard Wool SA (1 850), Modiano SA (1 756), Lempriere SA (1 153) en Stucken & Co (1 152).

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 1,5% to close at R170,92/kg; 18,5 microns moved 1,5% up to close at R158,54/kg; 19 microns gained 0,3% to close at R151,92/kg; 19,5 microns strengthened by 0,6% to close at R147,15/kg; 20 microns was 2,4% stronger to close at R146,43/kg; 20,5 microns won 1,7% to close at R143,55/kg; 21,0 microns recovered 0,6% to close at R142,86/kg; 21,5 microns improved by 0,7% to close at R145,82kg; 22 microns rose 2,7% to close at R143,02/kg and 22,5 microns climbed by 0,6% to close at R135,56/kg.

The next auction is scheduled for 08 July 2020 where approximately ±8 455 bales will be on sale.