South African wool prices rose sharply at the final national sale before the Christmas break, Cape Wools said on Wednesday.
Company spokeswoman Ona Viljoen said Cape Wools’ Marino indicator reached an all-time high when it gained seven percent on the previous week to close at R109.91/kg (clean).
“This was not only higher than last season’s highest level, but it also represents a 25.8 percent increase on the opening sale and was up almost 12 percent on the corresponding sale last year.”
Viljoen said in Australia the wool market also posted considerable increases this week.
There was excellent competition in the sales room from all sectors of the trade, despite the large offering of 15,723 bales, the largest of the past two seasons.
Ninety-nine percent of stock was sold. Prices rose across the board with 19-micron long fleece wools rising by almost eight percent.
Major buyers were Modiano SA (4726 bales), Standard Wool SA (4288 bales), Lempriere SA (3039 bales) and Stucken & Co (2136
Local sales would resume on January 9 next year. -Sapa