Strong demand and a weaker rand boosted wool prices at this week’s national sale, Cape Wools said on Thursday (17/01/2013).
Company spokeswoman Ona Viljoen said Cape Wools Merino indicator gained 3.2 percent on last week to close at an all-time high of R112.49/kg (clean).
"This is almost 29 percent higher than at the opening sale and up 9.5 percent on the same sale the previous season.” Viljoen said there was excellent competition from all sectors of the trade for the 15,380 bales on offer, of which 98 percent was sold.
Prices rose across the board but fine long fleeces posted the biggest gains after being under pressure at last week’s sale, with some micron categories posted gains of up to five percent.
Major buyers were Standard Wool SA (4093 bales), Modiano SA (3722 bales), Lempriere SA (3632 bales), Stucken & Co (1976 bales), and Segard Masurel SA (1012 bales).
An estimated 13,000 bales would be on offer at next Wednesday’s national sale. - Sapa