The market report

The wool market closed 3,1% (466 points) down at a value of R145,03 c/kg (Clean).

The Australian EMI moved 2,0% down this week.

This week saw the Rand at 1,8% 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 1,3% in US Dollar terms. The Wool market continued today, with the sale of part one of catalogue 27, consisting of 7 709 bales.

Under continuing difficult trading conditions, all buying houses participated actively in the auction, with the market retracting by 3.1% from the previous sale and achieving a 77% sales clearance. The Australian EMI decreased by 2% this week, with added pressure on the South African market from the stronger SA currency of 1,8% against the US$.

The offering consisted of more medium length wools, with fine long merino fleeces once again performing better than the market average, and over strong and short wools experiencing the most downward pressure. The major buyers on today’s sale were: Standard Wool SA (1 549), Lempriere SA (1 402), Modiano SA (1 029) and Stucken & Co (819).

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 5,5% to close at R168,89/kg; 18,5 microns moved 4,1% down to close at R162,16/kg; 19 microns lost 4,4% to close at R156,22/kg; 19,5 microns weakened by 1,4% to close at R155,71/kg; 20 microns was 3,4% weaker to close at R147,08/kg; 20,5 microns lost 1,4% to close at R146,19/kg; 21,0 microns lost 5,8% to close at R141,85/kg; 21,5 microns tumbled by 3,8% to close at R149,62kg; 22 microns fell 6,5% to close at R133,32/kg and 22,5 microns declined by 2,9% to close at R141,52/kg. .