The Cape Wools Market Indicator increased 3,7% to close 821 points higher on R232,16/kg (clean) at the second sale of September. The firmer market was due to a slightly weaker rand and the end of the Chinese holiday season.
Modiano bought most of the 6 312 bales on offer, with wool of 20 to 20,5 microns trading up to 6,1% higher.
The highest price on the OVK sale was R231,40, achieved for a three-bale AFFH lot of 16,9 microns, from the clip of Doringkuil Farming, Middelburg, and bought by New England Wool. “The auction eased the nervousness that had crept into the market in recent weeks,” said Heinrich Victor, OVK’s operational manager for fibre. “There is still an obvious demand for good-quality, long, fine Merino wool.”
The worldwide decline in…