South African wool prices increased for a fifth week in a row this week, Cape Wools said on Thursday.
Company spokeswoman Ona Viljoen said Cape Wools’ market indicator gained another four percent to close at a high of R108.63/kg (clean).
“This is an increase of 24 percent on the opening sale and up 3.3 percent on last season’s highest level.”
It means the indicator has risen by 23 percent during October.
Viljoen said the sale was marked by keen competition from various sectors of the trade, which helped to push up prices.
A total of 9906 bales was offered, of which 99 percent were sold.
Major buyers were Standard Wool SA (2719 bales), Modiano SA (2684 bales), Stucken & Co (1825 bales) and Lempriere SA (1525
A new seasonal record price was achieved when Eastern Cape fine-wool breeder Mike Palmer fetched a greasy price of R112.45/kg for a bale of AH wool of 15.9 microns.
Another breeder, John Muller from Cathcart, obtained R110.20/kg (greasy) for six bales BH wool of 16.5 microns.
Viljoen said local wool prices rose across the board, but the finer end of the market again posted the biggest increases.
An estimated 10,000 bales would be offered at next week’s national sale. - Sapa