Cape Wools Weekly Market Report (29 March 2023)

The 2022/23 wool season continued, with an offering of 8 344 bales, after 794 bales were withdrawn prior to the sale.

The bulk of the offering consisted of fine micron longer length wools, with 50% of the merino wools on offer being certified as sustainable.

Although the market had to contend with a stronger SA currency, the market had a buoyant performance, especially for the sustainably certified wools.

The non-certified indicator rose by 1,3% to close on R172.82 p/kg and the certified indicator gained 1,7% to close on R186,69 p/kg, with an overall sales clearance of 92%.

The Australian market also had a positive performance this week, closing 0,6%(AU$) up from the previous auction held on Wednesday, 22 March.

The major buyers were: G Modiano SA (2,617), Standard Wool SA (1,365), Tianyu SA (1,285) and BKB Pinnacle Fibres (839).

The next sale is scheduled for 5 April 2023.