South African Wool Market Restores Weak Sales Price
The first sale of the South African wool market was weak this year, due to concerns about the global economy and the appreciation of Rand. The Cape wool Merino index closed 3.2% lower than its last sales in mid December. South African rand appreciated 3% against the dollar and reached 9.86 Rand in the morning. Rand appreciated 3.2% of the exchange rate with the euro.
The price of wool has mixed signs. Some of the quality merino wool gets higher prices than expected prices, while other types of wool prices drop. There has been good competition in all trade sectors, and the demand from China is strong.
This week, the number of wool available for sale reached 13028 packages, with a turnover of 95%. The main buyers are the standard wool South Africa Company (4331 bales); Lempriere Australia (2107 packages); Chargeurs Wool Company (2021 pack) Modiano company (1566 packages); SegardMasurel company (1183 packages);
The average price trends of 70 and 80 mm AWEX type MF4 and MF5 wool are as follows: 19 microns drop 1.2%, to 65.78 RAND / kg; 20 microns drop 1.4%, to 53.65 RAND / kg; 21 micrometers remain unchanged, maintain at 50.01 RAND / kg; 22 micron drop to 53.65, to RT / kg; the growth of the sink micron is up to, reaching to trand / kg; wool and Mu micron wool are not quoted. In the next week's sale, the number of wool available for auction is about 14000 bales.
Editor: vivi
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