Wool Market Slightly Down
published 24 Mar 2021

Port Elizabeth – A smaller volume of 6 023 bales were offered on this week’s wool sale, with the market indicator closing slightly down by 0,7% on R161,03 p/kg, with an overall sales clearance of 94.22%.

The bulk of the offering consisted of 20 microns and finer, medium length wools, with a very small volume of sustainable wools on offer.

There was good competition for the limited quantity longer length merino fleece wools, with the medium micron segment performing above market average. Shorter wools experienced softer demand.

Although the Australian market ended slightly higher this week and traded 0,63%(AU$) up from the previous sale on the 18th of March, they also experienced softer demand generally and closed down 2,3% in US$ terms. The rand traded 0,47% stronger in US$ terms, with the market returning a 0,27% decrease in US$ terms.

The major buyers on today’s sale were: Standard Wool SA (1 450), Lempriere SA (1 339), Modiano SA (1 202) and Tianyu SA (851).

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 1,1% to close at R207,84/kg; 18,5 microns moved 1,1% down to close at R198,55/kg; 19 microns lost 1,0% to close at R186,75/kg; 19,5 microns weakened by 0,9% to close at R174,71/kg; 20 microns was 2,0% weaker to close at R160,47/kg; 20,5 microns lost 1,2% to close at R153,88/kg; 21,0 microns recovered 1,2% to close at R150,98/kg; 21,5 microns improved by 0,3% to close at R149,50kg; 22 microns rose 2,6% to close at R145,92/kg and 22,5 microns declined by 3,0% to close at R132,11/kg.

The next auction is scheduled for 14 April 2021.

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