The 25th sale of the 2023/24 wool season took place this week, with an offering of 10 847 bales.
More than 75% of the offering tested 20 micron and finer, with 58,7% of the merino wools on offer certified as sustainable.
The market had a steady performance this week, with good participation from all the buying houses on the auction floor, resulting in an overall sales clearance of 95%.
The market performance was stifled by the stronger ZAR against all the major currencies, with positive results achieved in US$ terms.
Both indicators closed nearly unchanged, with the non-certified indicator easing 0,5% to close on R152,58 p/kg and the certified indicator by 0,4% to close on R170,87 p/kg.
The Australian market strengthened on Tuesday and then softened again on Wednesday to close the week unchanged (in AU$), compared to the previous sale held on Wednesday, 6 March.
The major buyers on this week's sale were G Modiano SA (2 576), BKB Pinnacle Fibres (2 160), Standard Wool SA (1 840) and Tianyu SA (1 706).
The next sale will take place on 20 March 2024 where approximately 7 927 bales will be on offer.