Due to the 29th of May being declared a public holiday in South Africa, the penultimate sale of the 2023/24 wool season was held today.
A smaller volume of 7 156 bales were on offer, with nearly 60% of the merino wool offering being certified as sustainable. There was almost an even split of long and medium length wools on offer.
The market delivered positive results today, supported by a weaker SA currency. All micron categories ended in positive territory, with an overall sales clearance of 89,2%.
The non-certified indicator increased by 1,3% to close on R149,05 p/kg, whilst the certified indicator rose by 1,1% to close on R165,80 p/kg.
The Australian market had a solid performance today, coupled with a good overall sales clearance and closed 0,1%(AU$) up from their previous sale held on Wednesday, 22 May.
The major buyers on the sale were Standard Wool SA (1 501), BKB Pinnacle Fibres (1 423), G Modiano SA (1 107) and Tianyu SA (1 083).
The next sale will take place on 5 June 2024 where approximately 8 743 bales will be on offer.