Good prices at opening wool sale

The first South African wool sale of 2017 year got off to a promising start, according to Cape Wools. The company’s Merino indicator increased by 761 points to close the day at R154,54 (clean), up 9% on the corresponding sale last year.

Good prices at opening wool sale
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According to Cape Wools CEO, Louis de Beer, competition amongst the buyers for the 12 213 bales on offer was fierce due to the limited supply of quality Merino wool on offer.

He added that although the finer end of the market did particularly well, the coarser wool also appreciated in value.

The highest price of R142,50/kg was achieved by Jaco Cloete Boerdery from Steynsburg in the Eastern Cape for a MF260 lot of 17,9 microns, bought by New England Wool.

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According to Cape Wools, average clean prices for the various categories of good, long-fleece wool (MF5) were:

18,0 microns (µm) up 6,6% to R176,29/kg;

18,5µm up 5% to close at R175,08/kg;

19µm up 5,6% to R169,64/kg;

19,5µm up 5,2% to R161,07/kg;

20µm up with 5,7% to R157,60/kg;

20,5µm up 5,3% to R148,04/kg;

21,0µm up 4,9% to at R146,73/kg;

21,5µm up 6,4% to R145,91/kg;

22µm up 6,3% to R144,12/kg and

22,5µm up 4,1% to close at R143,54/kg.

Sales will resume on 18 January 2017, when 14 392 bales will come under the hammer.