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South Africa Wool Market Report(2020/10/14)

From:Nanjing woolmarket       Date:2020-10-26 15:39:59       Share:

Cape Wools Weekly Market Report

Port Elizabeth – A total of 7 642 bales were offered on the 9th sale of the 2020/21 wool season, after 1 135 bales were withdrawn before the sale, with a sales clearance of 93,9% of the bales actually offered.

The wool market surged upwards by 8,6% (ZAR) to close on R146,32 p/kg, with very good competition experienced for the good quality merino wools on offer, especially for the certified sustainable wools. The good quality long fleece wools also outperformed the market this week and sold at a large premium compared to the shorter length merino wools.

The market followed the upward trend in the Australian market this week, which improved by 9,3% (AU$). The SA Rand traded 0,6 % stronger against the US$, showing positive returns of 9,2% in US$ terms, with better market sentiment driving all micron categories upward.

The major buyers on today’s sale were: Standard Wool SA (2 148), Modiano SA (1 753), Lempriere SA (1 379) and Stucken & Co (1 015).

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 6,0% to close at R180,55/kg; 18,5 microns moved 9,6% up to close at R170,03/kg; 19 microns gained 9,6% to close at R160,13/kg; 19,5 microns strengthened by 7,8% to close at R148,85/kg; 20 microns was 8,9% stronger to close at R143,34/kg; 20,5 microns won 9,4% to close at R137,41/kg; 21,0 microns recovered 9,4% to close at R136,49/kg; 21,5 microns improved by 9,5% to close at R134,06kg; 22 microns rose 9,7% to close at R135,11/kg and 22,5 microns climbed by 9,4% to close at R139,58/kg.

The next auction is scheduled for 21 October 2020 where approximately ± 6 268 bales will be on sale.