WOOL prices slowed down this week with the Cape Wools Merino indicator shedding 2.6% compared to last week's sale to close at R113.26 per kg (clean).
Cape Wools South Africa spokeswoman Lizelle Delport said traders found resistance from China towards the current price levels affected yesterday's wool sale and the large offerings expected over the next four weeks are also viewed as a contributing factor.
She said the strengthening of the rand against the US dollar also weighed on prices.
The rand was 1.6% stronger at R9.76 against the US dollar, compared to last week's average rate, while remaining steady against the euro at R13.44.
Wool prices dropped across the board, with the medium types posting the greatest decline.
A total of 10 229 bales were on offer, of which 98% were sold.
Delport said the most active traders during yesterday's sale were Standard Wool (2 334), Lempriere (2 240), Modiano (2 134) and Stucken & Co (1 796).
The next sale is scheduled for October 30, when around 9 500 bales will be onoffer.