Wool News has provided a SA Wool Market review which was published on the 23rd of October 2014 which reported the following:
The wool market continued its lacklustre performance with the Cape Wools Merino indicator shedding 0, 8% to close at R112, 00/kg (clean). This is 0, 3% higher compared to the opening sale of this season and 1, 1% down compared to the corresponding sale of the previous season.
The softer wool prices reflected global market sentiment and the Australian market performed similar with its indicator shedding 0, 9%. Traders report that the large offering recently sold on the Australian market contributed to current price levels.
The Rand at R11, 02, was 0, 3% stronger against the US dollar and at R14, 00, it had depreciated with 0,1% against the Euro compared with last week’s exchange rates. The offering comprised of 10 250 bales of which 97% was sold. Major buyers were Lempriere SA (3 055), Standard Wool SA (2 676), G Modiano SA (1 389) and Stucken & Co (1 131).
The average clean prices for the selection within the different categories good top-making (MF5), long fleeces were as follows: 18 microns were down by 2,6% to close at R122,71/kg, 18,5 microns weakened by 3,4% to R119,67/kg, 19 microns shed 2,1% to close at R116,39/kg, 19,5 microns dropped with 0,9% to close at R114,28/kg, 20 microns lost 0,9% to close at R111,89/kg, 20,5 microns were unchanged at R111,31/kg, 21 microns declined 0,3% to close at R111,23/kg, 21,5 microns strengthened by 0,2% to R110,86/kg and 22 microns dropped with 2,2% to close at R108,25/kg.
Approximately 9 800 bales will be on offer at the next sale scheduled for 29 October.