Woolmark Strengthens
published 28 Apr 2021

Port Elizabeth – The wool market continued to strengthen on the 30th sale of the season and gained 3,7% from the previous sale, to close on R162,74 p/kg.

A total of 9 483 bales were on offer, with the majority of the offering consisting of merino wools, falling in the medium length category.

The market followed the upward trend in the Australian market this week, with better all-round buyer sentiment driving prices upward.

All micron categories delivered positive results, with the medium microns performing the best on the day, amidst good competition from the buyers.

An overall sales clearance of 96,06% was achieved, with good after sales assisting in achieving these good levels amidst some seller reserves not being met.

The Australian market closed up 1.75% (AU$) from the previous sale and the SA rand traded slightly weaker by 0,4% against the US$, returning a positive 3,27% in US$ terms.

The major buyers on today’s sale were: Modiano SA (2 607), Standard Wool SA (2 254), Lempriere SA (1 787) and Stucken & Co (1 114).

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 R213,45/kg; 18,5 microns moved 1,9% up to close at R201,36/kg; 19 microns gained 1,6% to close at R189,58/kg; 19,5 microns strengthened by 1,6% to close at R173,60/kg; 20 microns was 2,5% stronger to close at R156,94/kg; 20,5 microns won 3,3% to close at R152,93/kg; 21,0 microns recovered 3,3% to close at R150,20/kg; 21,5 microns improved by 4,8% to close at R144,21kg; 22 microns rose 3,2% to close at R139,46/kg and 22,5 microns climbed by 0,3% to close at R129,93/kg.

The next auction is scheduled for 5 May 2021 where approximately ± 4 672 bales will be on sale.

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