Port Elizabeth – A larger volume of 13 299 bales were on offer on this week’s wool sale, with the market delivering a good performance and gaining 1% from the previous week to close on R169,11 p /kg.
Of the total bales offered, an excellent sales clearance of 97,6% was achieved, with nearly 70% of the offering testing 20 micron and finer and certified sustainable wools making up 22.8% of the merino wools on offer.
The good quality offering attracted strong competition from all the buying houses, especially for the fine micron, long merino and sustainable wools on offer, which performed better than the market average.
The rand traded variably during the sale, but ultimately ended 3.05 % weaker against the US$, with the market retracting by 2.1 % in US$ terms.
The Australian market traded slightly up this week by 0.2% (AU$) from the previous sale on 25 February.The major buyers on todays sale were: Modiano SA (3 298), Standard Wool SA (3 109), Lempriere SA (3 087) and Tianyu SA (1 740).
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 increased 1,9% to close at R217,05/kg; 18,5 microns moved 1,7% up to close at R206,83/kg; 19 microns gained 1,6% to close at R195,88/kg; 19,5 microns strengthened by 0,8% to close at R184,33/kg; 20 microns was 0,7% stronger to close at R170,78/kg; 20,5 microns won 3,5% to close at R161,39/kg; 21,0 microns recovered 0,2% to close at R155,99/kg; 21,5 microns improved by 1,3% to close at R154,77kg; 22 microns rose 1,6% to close at R142,99/kg and 22,5 microns climbed by 0,8% to close at R144,65/kg.
The next auction is scheduled for 10 March 2021 where approximately ±8 223 bales will be on sale.