Wool Market Slumps
published 19 May 2021

Port Elizabeth – After a 1 week recess, a larger offering of 13 459 bales was available for sale in South Africa this week. An amount of 550 bales was withdrawn prior to the sale.

The market eased by 4% to close on R157,52 p/kg, with an overall sales clearance of 95,65%.

The stronger SA Currency had a negative impact on the market, with the rand trading 2,8% stronger against the US$, with the market yielding a negative return of 1,2% in US$ terms.

The majority of the offering consisted of merino wools in the 20 micron and finer category of medium length. 

Although all micron categories traded negatively, there was good competition from the buying houses for the better quality merino fleece wools on offer, as well as sustainably produced wools.

The Australian market traded slightly up this week by 0,69% (AU$) from the previous sale on Thursday, 13 May.

The major buyers on today’s sale were: Standard Wool SA (3 735), Modiano SA (3 176), Lempriere SA (2 596) and Stucken & Co (1 600).

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 2,4% to close at R209,07/kg; 18,5 microns moved 3,5% down to close at R197,32/kg; 19 microns lost 4,0% to close at R183,83/kg; 19,5 microns weakened by 5,2% to close at R166,83/kg; 20 microns was 3,6% weaker to close at R153,42/kg; 20,5 microns lost 4,6% to close at R146,81/kg; 21,0 microns lost 4,7% to close at R143,76/kg; 21,5 microns tumbled by 2,1% to close at R140,70kg; 22 microns fell 3,5% to close at R136,18/kg and 22,5 microns declined by 3,4% to close at R128,05/kg.

The next auction is scheduled for 2 June 2021 where approximately ± 10 093 bales will be on sale.

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