Wool market holding its own- and South Africa

The wool market closed 1,7% (342 points) down at a value of R202,42 c/kg (Clean), with the Cape Wools All Wool Indicator closing 1,7% lower. The Australian EMI moved 0,2% down/unchanged this week.

This week saw the Rand at 1,4% stronger against the US Dollar and 0,8% stronger against the Euro, compared with the average rate at the previous sale. The market weakened by 0,3% in US Dollar terms.

The wool market held up considerably well, considering the continued difficult trading environment, with the market shedding 1,7% from the previous sale and a sales clearance of 86,4%. Long, good quality merino fleeces held their price levels with medium and long wool once again experiencing downward pressure of up to 7%. The offering also consisted of a large volume of medium length wool.

The major buyers on yesterday's sale were: G Modiano SA (3 075), Standard Wool SA (2 945), Tianyu SA (1 147) and Lempriere SA (263).

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 2,8% to close at R228,09/kg; 18,5 microns moved 0,2% down to close at R224,97/kg; 19 microns lost 0,6% to close at R220,95/kg; 19,5 microns weakened by 0,2% to close at R217,80/kg; 20 microns was 0,7% weaker to close at R214,88/kg; 20,5 microns won 1,6% to close at R215,42/kg; 21,0 microns recovered 0,6% to close at R213,07/kg; 21,5 microns improved by 1,0% to close at R212,13/kg; 22 microns rose 0,4% to close at 208,12/kg and 22,5 microns declined by 2,3% to close at R199,79/kg.

The next sale is scheduled for 9 Mei 2019.