South African  Weekly Market Report (10 January 2024)

The 2023/24 wool season resumed after the Christmas recess, with the 16th sale of the season taking place.

A total of 6 567 bales were on offer, with sustainably certified wools comprising only 16,4% of the merino wools on offer.

Due to the composition of the offering, comparisons between certified and non-certified wools are not possible in most micron categories.

The market opened on a solid note, following the recent good gains in the Australian market, amidst better market sentiment from China, achieving an overall sales clearance of 94,8%.

The non-certified indicator increased by 4,2% to close on R 160,62 p/kg , whilst the certified indicator gained 4,6%, to close on R182,37 p/kg.

The Australian market delivered some good results since the last South African sale held on 29 November 2023.

Their market also edged up by 0,4% (AU$) this week from their previous sale held on 14 December 2023.

The major buyers on today’s sale were G Modiano SA (1 723), Standard Wool SA (1 256), BKB Pinnacle Fibres (990) and Tianyu SA (797).

The next sale will take place on 17 January 2024 where approximately 13 319 bales will be on offer.

Source: Cape Wool SA