Mohair prices up, but wool shows decline

THE wool market came under pressure at yesterday's sale, while the mohair sale showed further growth.

The Cape Wools Merino indicator shed 5.4% compared to the previous sale to close at R108.59/kg (clean).

This is 6.5% higher compared to the opening sale of this season and down 2.8% compared to the corresponding sale of the previous season.

Cape Wools SA appraiser Ria van Rooyen said a weaker demand from China had contributed to the price decrease. "The Australian market followed a similar trend and decreased by 4.2% this week. It was encouraging that there was good competition for the better quality wool.

"Inferior quality wool was most affected through the lack of demand. The sale resulted in a 95% clearance of the 13020 bales on offer."

The most active traders were Standard Wool SA (3822), Lempriere SA (2723), G Modiano SA (2596) and Stucken & Co (1419).

The average clean prices for the selection within the different categories good top-making were: 18 microns (µ) were down by 5.4% to R118.10/kg, 18.5µ weakened 1.8% to R116.89/kg, 19µ shed 5.5% to R113.34/kg, 19.5µ dropped 5.4% to R110.68/kg, 20µ lost 5.5% to R109.22/kg, 20.5µ were down 5.6% to R108.89/kg, and 21µ weakened by 6.4% to close at R107.99/kg.

At Tuesday's third Mohair SA sale of the summer season, 98% of the offering was sold. The market indicator gained 3% to close on R147.43/kg.

This is 11.6% higher than the opening sale and 31% higher from the corresponding sale last year.

A highest price of R530.00/kg was paid for 24µ good style kid mohair.

Compared to the previous sale prices were: kids (summer) up 5.4%, young goats (summer) up 6.9%, fine adults up 7.6% and strong adults up 3.7%. – Business Reporter