Wool Market Positive
published 21 Apr 2021

Port Elizabeth – A smaller volume of 7 665 bales were on offer on this week’s wool sale, after 723 bales were withdrawn prior to the sale, with an overall sales clearance of 92.69% of the bales actually offered.

The market performed well today, closing 0.9% up from the previous sale on R156.96 p/kg, whilst having to contend with a SA currency that was trading 1.6% stronger against the US and the market gaining 2.47% in US$ terms.

70% of the offering consisted of 20 micron and finer wools, with similar volumes of long and medium length wools on offer.

The finer micron merino fleece wools experienced good competition and outperformed the market, but the broader micron categories traded softer and dragged the market down.

The Australian market had a good performance on Tuesday and softened slightly today, to close the week up 1.63% from the previous sale on Thursday, 15 April.

The major buyers on todays sale were: Standard Wool SA (2 212), Modiano SA (1 604), Lempriere SA (1 449) and Stucken & Co (744).

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 2,7% to close at R209,44/kg; 18,5 microns moved 1,4% up to close at R197,68/kg; 19 microns gained 1,3% to close at R186,65/kg; 19,5 microns strengthened by 0,5% to close at R170,93/kg; 20 microns was 0,7% stronger to close at R153,16/kg; 20,5 microns won 1,5% to close at R147,99/kg; 21,0 microns recovered 0,4% to close at R145,36/kg; 21,5 microns tumbled by 2,8% to close at R137,61kg; 22 microns fell 2,1% to close at R138,12/kg and 22,5 microns declined by 1,4% to close at R129,55/kg.

The next auction is scheduled for 28 April 2021 where approximately ± 9 224 bales will be on sale.

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