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South Africa wool market remains strong
Dated- 25 Jan , 2012 - South Africa
The South African wool market held up well despite a stronger rand during trade this week, Cape Wools Merino said on Wednesday.
Company spokeswoman Ona Viljoen said Cape Wools' indicator closed unchanged at R102.47/kg (clean wool).
The local trend was in line with Australia, where prices were marginally dearer.
Viljoen said there was keen demand on the auction floor, particularly among grease-wool exporters, which helped to support price levels.
The prices of most micron category quality fleece wools (MF5) were up by between 0.5 and 2.5 percent. The exception was 21 micron wool, which was slightly cheaper.
This week saw a smaller offering than during the past two weeks of 10,186 bales, of which 97 percent were sold.
Major buyers were Modiano SA (3002 bales), Standard Wool SA (2542 bales), Lempriere SA (2113 bales) and Stucken and Co (1306 bales).
A much smaller offering of only 5500 bales would be auctioned at next week's national sale.
Source: The Citizen
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