After a week’s recess in wool auctions, the 28th sale of the 2023/24 wool selling season took place this week, with a larger offering of 11 112 bales, after 401 bales were withdrawn prior to the sale.

 

Although less than half of the offering consisted of long length wools, nearly 70% of the offering tested 20 micron and finer, with 52,6% of the merino wools offered being certified as sustainable.

Although the market had to deal with the pressure from a stronger ZAR against all the major currencies, the market had a satisfactory performance, especially for the better quality merino fleece wools on offer and the market delivered positive results in US$ terms. 

The good competition form the buying houses for the better quality wools resulted in an overall sales clearance of 92,5%.

The non-certified indicator eased by 1,2% to close on R147,35 p/kg, whilst the certified indicator closed down by 0,9% on R165,25 p/kg.

 

After an uncertain start in the Australian market on Tuesday, the market improved slightly on Wednesday, to close the week 0,3% (AU$) down from the previous sale held on Wednesday, 27 March.

The major buyers on the sale were G Modiano SA (2 298), BKB Pinnacle Fibres (1 939), Standard Wool SA (1 768) and Tianyu SA (1 656).

The next sale will take place on 24 April 2024 where approximately 11 184 bales will be on offer.