South African Weekly Market Report (11 January 2023)

South African Weekly Market Report (11 January 2023)

The 2022/23 wool selling season resumed this week after the Christmas recess, with a final offering of 8 926 bales, after a withdrawal of 1 948 bales before the sale.

 The offering consisted of a very limited volume of sustainable wool, with 21,4% of the merino wools on offer being certified as sustainable, driving prices up even further in some micron categories. Just more than 50% of the offering consisted of fine micron, long length wools.

 The market resumed on a buoyant note with all micron categories closing higher, whilst the ZAR traded at similar levels against the US$, with an overall sales clearance of 93,13%.

The non-certified indicator increased by 9,3% to close on R165,67 p/kg and the certified indicator jumped by 11% to close on R175,15 p/kg. (Kindly note that all sustainably certified wools are now quoted as certified wools)

 The Australian market closed slightly up this week by 0,2% (AU$) from their previous sale held on 15 of December 2022, but achieved even better results in US$ terms.

The major buyers on today’s sale were: Modiano SA (2 803), Standard Wool SA (1 489), Tianyu SA (1 393), and Lempriere SA (1 327).

The next auction is scheduled for 17 January 2023. Source: Cape Wools SA