South African Wool Weekly Market Report (23/24 April 2024)

After a week’s recess in auction sales due to the IWTO congress in Adelaide, Australia, the 29th sale of the season took place this week.

A larger volume of 12 507 bales were on offer and an overall sales clearance of 92,6% was achieved.

The majority of the offering tested 20 micron and finer, with an even split between long and medium length wools. Certified sustainable wools comprised 53% of the merino wools on offer.

The market took its cue from the recent improvement in the Australian market, further supported by the weakening in the SA currency. All micron categories delivered positive results on this week’s sale.

The non-certified indicator increased by 4,6% to close on R154,06 p/kg, whilst the certified indicator rose by 4% to close on R171,85 p/kg

The Australian market increased by 1,2% (AU$) this week from their previous sale held on Wednesday, 17 April.

The major buyers on the sale were BKB Pinnacle Fibres (2 845), G Modiano SA (2 788), Standard Wool SA (1 981) and Tianyu SA (1 396).

The next sale will take place on 8 May 2024 where approximately 7 283 bales will be on offer.

Source: Cape Wool