South Africa Wool Market Report (4 October 2023)

South Africa Wool Market Report (4 October 2023)

The 7th sale of the 2023/24 wool season took place today, with another small offering of 6 561 bales, after 557 bales were withdrawn prior to the sale.

 The majority of the offering consisted of fine, long length wools, with sustainably certified wools comprising 60,5% of the merino wools on offer.

The market delivered steady results today, with the good quality merino fleece wools once again experiencing better competition and pushing the overall sales clearance up to 91,1%.

The ZAR started off at weaker levels against the US$, but strengthened and traded variable throughout the day.

 The non-certified indicator eased slightly by 0,7% to close on R152,71 p/kg, whilst the certified indicator closed almost unchanged on R167,36 p/kg.

 The Australian market closed marginally up by 0,3% (AU$), but still ended in the red in US$ terms, compared to the previous sale held on Thursday, 28 September

 The major buyers on today’s sale were G Modiano SA (1 503), Tianyu SA (1 090), Standard Wool SA (1 081) and BKB Pinnacle Fibres (925).

The next sale will take place on 11 October 2023 where approximately 6 085 bales will be on offer.

Source: Cape Wool SA