The 22nd sale of the 2019/20 wool season took place today with 12 562 bales on offer of which 95,2% was sold. The wool market closed 3,1% (325 points) down at a value of R179,09 c/kg (Clean). The Australian EMI moved 1,2% down this week.
This week saw the Rand at 0,2% weaker against the US Dollar and 2,2% weaker against the Euro, compared with the average rate at the previous sale. The market weakened by 3,3% in US Dollar terms.
The wool market could not hold on the gains of the last few weeks and shed 3.1% this week to close on R179.09 p/kg. The lower yields of merino wools on offer contributed significantly to the lower price levels. The Australian market started on a positive note on Wednesday and turned negative on Thursday to close 1.2% down this week.
The offering consisted of a large volume of fine wools, with these micron categories experiencing the most downward pressure amidst some market uncertainty. Some of the medium range microns performed better than the market average, especially for certified sustainable lots of good quality.
The major buyers on today’s sale were: Standard Wool SA (4 455), Modiano SA (3 110), Lempriere SA (2 659) and Stucken & Co (958).
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 5,1% to close at R191,15/kg; 18,5 microns moved 4,6% down to close at R187,60/kg; 19 microns lost 5,1% to close at R184,50/kg; 19,5 microns weakened by 2,0% to close at R191,42/kg; 20 microns was 3,3% weaker to close at R182,25/kg; 20,5 microns lost 1,1% to close at R181,44/kg; 21,0 microns lost 2,2% to close at R180,32/kg; 21,5 microns tumbled by 1,6% to close at R180,63kg; 22 microns fell 1,1% to close at 180,12/kg and 22,5 microns declined by 1,2% to close at R175,16/kg.
The next sale is scheduled for 12 March 2020 where approximately ±8 827 bales will be on sale.