South African Market Report (26 October 2022)

South African Market Report (26 October 2022)

The wool selling season continued, with the 9th sale of the season.

A total of 7 100 bales were on offer, with the offering once again consisting of good length fine micron fleece wools. Certified sustainable wools made up 64,7% of the merino wools on offer.

The market generally experienced some downward pressure today, with the strengthening of the SA Rand during the day further making for a difficult trading environment.

The non-RWS market indicator closed down by 1,9% on R164,36 p/kg and the RWS indicator eased by 1,2% to close on R177,46 p/kg, with 91% of the offering sold.

The Australian market also eased this week, with the market indicator shedding 1,7% (AU$) from the previous sale, held on 19 October.

The major buyers were: Lempriere SA (2 009), Tianyu SA (1 423), Standard Wool SA (1 318) and Modiano SA (974).

The next auction is scheduled for 02 November 2022 where approximately ±6 126 bales will be on sale.

Source: Cape Wools