Wool Market Looses Ground
published 02 Sep 2021

Port Elizabeth – After a week’s recess in the 2021/22 wool season, the 3rd sale of the season took place today, with a smaller volume of 7 263 bales on offer.

The market experienced mixed results across the various micron categories, but ultimately eased by 1,6% from the previous sale, to close on R164,95 p/kg, with a lower overall sales clearance of 86,18%.

The offering consisted predominantly of fine merino wools, with sustainably certified wools comprising 42.6% of the merino wools on offer.

Although the market initially showed positive signs, it could not hold on to the gains, with the certified sustainable wools once again trading at a premium above the average market levels. 

The stronger SA currency of 3,06% against the US$ impacted price levels negatively, with the market delivering a positive return of 1,5% in US$ terms.

The Australian market also experienced downward pressure this week and decreased by 1.3% (AU$) from their previous sale, held on Wednesday 25 August. There was once again some seller resistance in the Australian market, resulting in higher passed in rates.

The major buyers on today’s sale were: Standard Wool SA (1 770), Tianyu SA (1 152), Modiano SA (970) and Stucken & Co (913).

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 3,5% to close at R222,49/kg; 18,5 microns moved 2,2% down to close at R211,53/kg; 19 microns lost 4,6% to close at R186,25/kg; 19,5 microns weakened by 2,6% to close at R173,82/kg; 20 microns was 1,1% weaker to close at R157,01/kg; 20,5 microns won 0,6% to close at R155,45/kg; 21,0 microns recovered 0,9% to close at R153,45/kg; 21,5 microns improved by 1,7% to close at R150,06kg; 22 microns fell 1,5% to close at R138,69/kg and 22,5 microns climbed by 1,1% to close at R137,90/kg.

The next auction is scheduled for 14 & 15 September 2021.

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