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Wool prices hit new highs
![Wool prices hit new highs](https://biz-file.com/c/1211/117441.jpg)
It also means that the indicator has risen by 23% during October.
The sale was marked by keen competition from the various sectors of the trade‚ which helped to push prices up.
The rand‚ at R8.62 was 1% stronger against the dollar compared with last week's average rate‚ and at R11.19‚ it had gained 0.8% against the euro.
A total of 9‚906 bales was offered of which 99% was sold. Major buyers were Standard Wool SA (2‚719 bales)‚ Modiano SA (2‚684 bales)‚ Stucken & Co (1‚825 bales) and Lempriere SA (1‚525 bales).
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 AH wool of 15.9 microns‚ while John Muller from Cathcart got R110.20/kg (greasy) for 6 bales BH wool of 16.5 microns.
Prices rose across the board but the finer end of market again posted the biggest increases.
Source: I-Net Bridge
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