Cape Wools Weekly Market Report

Port Elizabeth – The 8th sale of the 2020/21 wool season continued its upward trend with a 2,4% increase from the previous sale, to close on R 134,77 p/kg.

A relatively small volume of 5 919 bales were offered, with a sales clearance of 93,1% The offering consisted of some good quality wools, with 31 % of the wool actually sold being RWS certified.

There was very good competition on today’s sale, especially for the medium and longer length sustainable certified wools.

The Australian market also experienced good demand this week, with the market gaining 2,6%(AU$). The rand traded 1,7 % stronger against the US$ this week, resulting in a 4,2% gain in US$ terms, which is very positive within the current market environment.

The major buyers on today’s sale were: Standard Wool SA (1 312), Modiano SA (1 185), Stucken & Co (1 018) and Lempriere SA (774).

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 1,7% to close at R170,27/kg; 18,5 microns moved 1,7% up to close at R155,11/kg; 19 microns 1,8% to close at R146,09/kg; 19,5 microns strengthened by 3,7% to close at R138,10/kg; 20 microns was 3,6% stronger to close at R131,62/kg; 20,5 microns won 1,7% to close at R125,57/kg; 21,0 microns recovered 3,0% to close at R124,71/kg; 21,5 microns improved by 2,1% to close at R122,46kg; 22 microns rose 1,9% to close at R123,13/kg and 22,5 microns climbed by 3,5% to close at R127,55/kg.

The next auction is scheduled for 14 October 2020 where approximately ± 7 545 bales will be on sale.