Strong demand from Italy for better-quality wool

11 Mar 2016

The wool market traded 1.5% lower this week and the Cape Wools Merino Indicator decreased by 230 points to close at a value of R151.99 (clean).

Peter van der Sluijs via Wikimedia Commons

On the Australian market, the Eastern Market Indicator dropped 2.1%. The Cape Wools All Wool Indicator weakened by 1.8%.

There was a strong demand from Italy, in particular for the better-quality wool.

The buyers reported that the rest of the market was more subdued and the decline was mostly the result of the foreign exchange fluctuation.

This week saw the Rand at R15.43 to the US dollar. The rand strengthened by 1.6% against the US dollar compared with the average rate at the previous sale.

The rand strengthened 0.6% against the euro, trading at R16.92. The offering comprised 7,090 bales, of which 96.7% was sold. Major traders were Lempriere SA (2,029), Standard Wool SA (1,980), G Modiano SA (1,474) and Stucken & Co (926).

Source: Herald

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za