The Merino indicator increased 1,8%, or 316 points, to close at R177,27 (clean) at the latest auction, while the Australian eastern market indicator (EMI) lost 0,1% at the corresponding auction.
“Demand for Merino wool remained strong across all micron ranges, with the finer and broader ends benefiting most,” said Louis de Beer, CEO of Cape Wools.
“The mid-micron ranges showed smaller gains for long wool. Surprisingly, medium lengths did better,” he said.
Buyers competed vigorously for the 8?665 bales on offer, in a market driven by positive consumer sentiment towards Merino wool, along with a weaker rand. According to Pierre de Lange, wool marketing manager at OVK, price percentage increases were as follows: 18,7?micron (μ) and finer gained 2%, 19μ was up 3,5%, both 20μ and 21μ groups were 2,5%…