Cape Wools Weekly Market Report (14 September 2022)

Cape Wools Weekly Market Report (14 September 2022)

After a week’s recess in wool auctions due to shipping backlogs, the 4th sale of the 2022/23 season took place on 14 September.

The smaller offering of 6 204 bales consisted mainly of medium length wools, with 49,4% of the total merino wools on offer being certified as sustainable.

The longer length wools experienced good competition, but the shorter length and mixed wools dragged the overall sales clearance down to an average of 81.1%.

An improved trading environment and a weaker South African currency assisted in yielding positive results on this sale.

The non-RWS market indicator gained 3,8% to close on R166,31 p/kg. with the RWS indicator increasing by 1,2% to close on R174,76 p/kg.

 The Australian market closed marginally down by 0,99% (AU$) from the previous sale held on Wednesday, 7 September.

The major buyers at this sale were: Modiano SA (1 543), Lempriere SA (1 301), Standard Wool SA (1 076) and Stucken & Co (632).

The next auction is scheduled for 28 September 2022 where approximately ±5 903 bales will be on sale.

Source: Cape Wool SA