THE market was slightly weaker at this week's wool sale as demand conditions remained tough and the Cape Wools Merino indicator shed 0.8% compared with last week to close at R88.09/kg (clean).
This is in line with the Australian market where the indicator was down 0.6%.
The market initially struggled to gain momentum and the average prices for some micron categories in early morning trade were down by up to 3%, but picked up pace later in the day. The finer fleeces performed better than the broader types. Medium wools were also in keen demand.
There was little change in the value of the rand against the US dollar, at R8.18. However, it was 1% stronger against the euro, trading at R10.53.
A total of 5697 bales were offered of which 99% was sold. Major buyers were Standard Wool SA (1235 bales), Stucken & Co (1213), Modiano SA (1150) and Lempriere SA (1120 bales).
The average clean prices per kilogram for the categories of good top-making (MF5) long fleeces were as follows: 18 microns were down 1.5% at R98.26; 18.5 microns gained 0.8% to R98.35; 19 microns were down a marginal 0.1% at R96.43; 19.5 microns shed 0.7% to R94.04; 20 microns were 2.6% cheaper at R90.25; 20.5 microns were down 2.2% at R89.09; 21 microns shed 2.1% at R88.72; 21.5 microns were 1.8% cheaper at R87.97 and 22 microns were down 3.1% to close at R86.83.
About 8500 bales will be on offer next week. – Herald Reporter