Cape Wools Weekly Market Report

Port Elizabeth – This week’s wool sale consisted of another large offering of 13083 bales, after 1 962 bales were withdrawn prior to the commencement of the sale and a final sales clearance of 96,15% was achieved.

Long fine merino wools made up nearly 60% of the offering and 37% of the merino wools on offer were certified as sustainable.

Although the market retracted by 1,4% from the previous sale to close on R142,03 p/kg, the fine micron categories and the sustainable certified RWS lots actually closed up from the previous week and attracted good competition from the buying houses. The biggest downward pressure was seen in the medium micron categories, dragging the market into negative territory.

The market retracted by 0,9% in US$ terms, amidst the stronger SA currency of 0,52% against the US$. The Australian market also closed down 0.8% (AU$) this week and recorded lower sales clearances.

The major buyers on todays sale were: Modiano SA (3 312),Lempriere SA (3 266), Standard Wool SA (2 351) and Tianyu SA (1 952).

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 decreased 0,4% to close at R176,01/kg; 18,5 microns moved 0,7% up to close at R167,00/kg; 19 microns lost 0,3% to close at R156,37/kg; 19,5 microns weakened by 1,0% to close at R148,37/kg; 20 microns was 2,3% weaker to close at R138,38/kg; 20,5 microns lost 2,6% to close at R134,58/kg; 21,0 microns lost 1,6% to close at R133,50/kg; 21,5 microns improved by 2,1% to close at R132,36kg; 22 microns rose 0,3% to close at R124,73/kg and 22,5 microns declined by 0,2% to close at R120,55/kg.

The next auction is scheduled for 02 December 2020 where approximately ±18 357 bales will be on sale.