Cape Wools Weekly Market Reports for 29 and 30 August 2023
After last week’s recess in auctions, the 2nd sale of the 2023/24 wool selling season took place on 29 August.
With catalogue 3 scheduled to take place tomorrow, a very small volume of 4 868 bales were offered, making price comparisons more difficult.
The market continued to experience negative pressure, with the stronger SA currency further adding to the difficult trading environment.
A better overall picture of the market will become available after the 30th August auction, as the Australian market showed some positive signs.
The non-certified indicator decreased by 5,5% to close on R149,45 p/kg, whilst the certified indicator declined by 6% to close on R162,37 p/kg. An overall sales clearance of 88,2% was achieved.
The Australian market traded slightly up by 0,8% (AU$) from their previous auction held on Wednesday23 August.
The major buyers on today’s sale were G Modiano SA (931), Tianyu SA (751), Standard Wool SA (662) and Stucken & Co (445).
The 3rd sale of the 2023/24 season took place on 30 August, with another small offering of 5 101 bales.
Another large percentage of certified sustainable wool was on offer, comprising 68% of the merino wools offered.
The market ended on very similar levels as the previous day, with the non-certified wools performing slightly better on the day. An overall sales clearance 86,8% was achieved.
The non-certified indicator closed up by 0,5% to close on R150,25 p/kg, whilst the certified indicator eased slightly by 0,2%, to close on R162,10 p/kg.
The Australian market ended marginally down by 0,4% (AU$) and unchanged in US$, from their sale held on 29 August.
The major buyers on today’s sale were G Modiano SA (1,707), Standard Wool SA (753), Tianyu SA (678) and BKB Pinnacle Fibres (458).
The next sale will take place on 6 September where approximately 5 842 bales will be on offer.
Source: (Cape Wool SA)