Agriculture
Good gains at first wool sale of the year─── SABRINA DEAN 10:02 Fri, 13 Jan 2017
Port Elizabeth - The first wool auction of the year got off to a running start as prices closed more than 5% higher on average than at the previous sale.
The latest BKB Wool Market Report states that the Cape Merino Wool Market Indicator increased 5.2% to close on over R154 per kilogramme.
Meanwhile, the OVK/CMW wool market report reveals that prices for 19-20 micron wool rose by as much as 8%.
OVK/CMW Fibre Manager James de Jager says wool auctions both locally and in Australia started the year on an extremely positive note, showing good gains on the closing auctions in 2016.
He says they believe this is a positive indication that export levels will be maintained, even for the duration of the Chinese New Year. He adds that Australian wool production is forecast to increase 2.2% to reach 332 million kilogrammes.
Click here to view the reports under the OFM agriculture reports and notices link.
- OFM News
