South Africa’s wool market traded lower at this week’s auction. Sentiment on the wool market was heavily influenced by the volatility and strengthening of the rand.
The 2016-17 wool growing season is nearing its end and at this penultimate sale prices particularly on the medium and shorter length wool declined significantly.
Demand for good quality long fleece wool remains good. The fierce rivalry between Lempriere, Standard Wool and Modiano continues unabated.
The rand was four per cent stronger against the dollar compared with the average rate at the previous sale. Major traders were Lempriere, Modiano, Standard Wool and Stucken & Co.
The average clean prices for the selection within the different micron categories for good top-making long fleeces were as follows: 18 microns decreased 1.7 per cent; 18.5 microns decreased two per cent; 19 microns lost 3.1 per cent; 19.5 microns moved down 1,9 per cent; 20 microns decreased with 1.9 per cent; 20.5 microns moved down1.6 per cent; 21 microns weakened 1.2 per cent; 21.5 microns decreased 1.5 per cent; 22 microns lost 1.1 per cent; and 22.5 microns decreased 1.5 per cent.
The Australian EMI lost 2.4 per cent this week. The Cape Wools All Wool Indicator lost 2.3 per cent.