Wool prices continue to increase

THE upward trend in wool prices continued at this week's sale and the Cape Wools indicator gained another 3,2% to close at R104,43/kg (clean). This is a 19,5% increase on the opening sale.

The increase was prompted by good demand from all sectors of the trade and a rise in Australian prices. There was a sizeable volume of fine wools on offer, which fetched excellent prices.

A total of 7235 bales was offered, of which 99% was sold. About 9000 bales will be on sale next week.