South African Weekly Wool Market Report (29/30 October 2024)

The 10th sale of the 2024/25 wool season took place this week, with an offering of 7 717 bales, after 1 411 bales were withdrawn prior to the sale. The bulk of the offering consisted of long length, fine micron wools, with 53% of the merino wools on offer being certified as sustainable.

The ZAR traded variably during the two day sale, but averaged nearly unchanged against the US$ compared to the previous sale.

The market followed the downward trend in the Australian market this week, but still managed a good overall sales clearance of 95.5%.

There was also good competition for the sustainably certified wools on offer, resulting in an improved price difference between certified and non-certified wools.

The all-merino indicator shed 0,7% to close on R159,47 p/kg, with the certified indicator easing by 0,5% to close on R161,80 p/kg.

A highest price of R313,93 p/kg (clean) was paid for a single bale lot of 14,9 micron merino wool.

The Australian market continued its downward trend this week and closed down 0,53% (AU$) from their previous sale held on Wednesday, 23 October.

The major buyers on this weeks sale were BKB Pinnacle Fibres (1 515), G Modiano SA (1 502), Tianyu SA (1 147) and Standard Wool SA (1 073).

The next sale will take place on 6 November 2024 where approximately 9 112 bales will be on offer.

Source: Cape Wool SA