South African Wool Prices Are Low

On Wednesday, the Merino price of the Cape wool market fell 5.1% on Wednesday, with 49.18 RAND / kg (skim wool) on the day of the global economic turmoil.

For the first time since December 2006, the price of wool fell below 50 RAND / kg mark.

Although the average price has fallen by 14% so far, it is still 10% higher than the 2007/08 average price.

The buyer reported that due to economic and exchange rate instability, customers refused to buy, and orders fell sharply.

Australia's market price fell 2.2%.

Unlike last Wednesday, Rand was quite stable on Wednesday morning. The exchange rate for the US dollar was 9.15 Rand, which was basically stable against the euro exchange rate in the 12.47 Wednesday.

Prices are all sluggish.

Long Merino wool prices are the most affected, especially 22 micron and 23 micron wool, down more than 6%.

The offer is 6171 packages, with a turnover rate of 86%.

The main buyers are Modiano (1216 pack), South Africa standard wool (1016 pack), Stucken (973 pack), and Chargeurs wool (784 pack).

AWEX wool MF4 and MF5 (70 mm-80 mm) average price trend is as follows: 19 micron down 1,9% reported 65,49 blue RT /kg, 20 microns fall 4,9% 4,9% 53,80 Rand /kg; 21 micron fall reported MF5; 22 micron drop reported in the blue, and 23 micron drop reported in the blue.

24 microns and 25 microns without quotations.

The sale volume is about 10500 packs.