Wool market shows good demand

THE wool market traded at similar levels as before the Christmas recess and the Cape Wools Merino Indicator remained at R188.08 (clean).

The Australian EMI increased by 7.3% this week. The Cape Wools All Wool Indicator was also unchanged.

The good start to the second half of the season confirms the consistently good demand for good quality long and fine wool.

The market remained firm across all types and delivered good returns to producers.

The volumes received at brokers’ stores are still lagging the previous season receipts, but competition between buyers was keen.

The offering comprised 13 360 bales of which 97.8% was sold.

The major traders were Modiano (4 272), Standard Wool SA (3 170), Lempriere SA (2 119) and Tianyu SA (2 009).

The average clean prices for the selection within the different micron (μm) categories for good top-making (MF5), long fleeces were: 18μm decreased 1.5% to R227.40/kg; 18.5μm dropped 1.2% to R221.17/kg; 19μm lost 1.1% to R206.83/kg; 19.5μm weakened by 1.6% to R195.52/kg; 20μm was up 1.3% to R185.21/kg; 20.5μm increased by 1.5% to R175.97/kg; 21μm recovered 0.4% to R170.85/kg; 21.5μm increased 0.1% to R163.62/kg; 22μm was up 0.8% to R164.24/kg and 22.5μm 0.9% to R162.47/kg.

The next sale in Port Elizabeth is on Wednesday, when about 13 040 bales will be on sale.