South Africa Wool  Market Report (6/7 February 2024)

A total of 13 799 bales were on offer, after 1 735 bales were withdrawn prior to the sale, on the 20th sale of the 2023/24 wool season.

Although the average micron of the offering was slightly stronger than the previous sale, 62% of the offering still tested 20 micron and finer. Certified sustainable wools comprised 58,4% of the merino wools on offer.

The ZAR traded weaker against the US$, but stronger against the EUR and GBP. The market continued to experience downward pressure this week and the overall sales clearance averaged at 90,2%.

The non-certified indicator decreased by 1,4% to close on R148,99 p/kg, whilst the certified indicator declined by 2,3% to close on R168,85p/kg.

The Australian market continued to suffer losses this week, closing down 0,7% (AU$) from the previous sale held on Wednesday, 31 January, with higher passed in rates recorded.

The major buyers on this week’s sale were G Modiano SA (3 508), Tianyu SA (2 507), Standard Wool SA (2 440) and BKB Pinnacle Fibres (1 763).

The next sale will take place on 14 February 2024 where approximately 10 794 bales will be on offer.

Source: Cape Wool