South African Weekly Market Report (26/27 November 2024)

The final sale before the 2024 Christmas recess was held this week, with a large offering of 14 243 bales, after 1 922 bales were withdrawn prior to the sale.

Although the average micron of the offering was slightly higher than the previous sale, 65% of the offering tested 20 micron and finer, with sustainably certified wools comprising 51,2% of the merino wools on offer.

The market delivered better results today, with good competition for the better merino fleece wools resulting in an overall sales clearance of 98,8%. The ZAR traded marginally weaker against the US$ over the two-day sale.

The all-merino indicator gained 0,9% to close on R164,21 p/kg, whilst the certified indicator increased by 1,0% to close on R166,89 p/kg

A highest price of R282,22 (clean) was paid for a two bale lot of 15,5 merino wool.

The Australian market also had a better performance this week and gained 0,6% (AU$) from their previous sale held on Wednesday, 20 November.

The major buyers on this week’s sale were BKB Pinnacle Fibres (3 440), Standard Wool SA (2 722), G Modiano SA (2 608) and Tianyu SA (2 098).

The next sale will take place on 8 January 2025 where approximately 6 279 bales will be on offer.

Source: Cape Wool SA