The market report

Reports on the past week's wool sales held in Port Elizabeth, South Africa:

Port Elizabeth –The wool market ended the season lower at this weeks’ auction and the Cape Wools Merino Indicator decreased by 2,2% and by 341 points to close at a value of R152,18 (Clean).The Australian EMI lost 0,9% this week.The Cape Wools All Wool Indicator lost 2,2%.The final auction of the 2016/17 wool growing season delivered few surprises as market demand for longer wool in the mid micron groups remained firm with both the finer and coarser ends softening.

 
South Africa is a vast and beautiful country with a rich history of sheep and wool farming. This long history has established woolgrowers who have a keen appreciation of how to care for their animals and the environment. As a result, the industry consistently generates a high quality, environmentally sound product for international markets.

The first Merino sheep arrived at the Cape in 1789, and the sheep and wool industry on a commercial basis was soon established. During the whole of its colonial period, the Cape province remained the most important wool producing area in Southern Africa and although the sheep industry subsequently spread rapidly throughout virtually the whole of the country, 'Cape Wool' has become the international generic trade term for all wool produced on the sub-continent.

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