Agriculture
Wool prices continue to impress─── 08:57 Tue, 22 Nov 2016
Port Elizabeth - Wool growers continue to realise outstanding results with last week's sale showing price gains of between six and nine percent.
According to the OVK/CMW Wool Market Report, the better prices are largely due to the weaker Rand/US Dollar exchange rate, as well as a stronger Australian market.
Wool of 23 micron saw a price gain of 7.5% while wool of 20-22 micron gained as much as 9%.
According to Fibre Manager, James de Jager, there was excellent competition among buyers that resulted in 99% of the wool on offer being sold.
Commenting on the forecast, he says Chinese buyers who have not yet filled their wool quotas for the year are eager to secure their volumes within the limited period remaining to year-end, so as not to be penalised next year with a smaller volume quota.
You can download the full OVK/CMW Wool Market Report here:
20161122 CMWWOOLREP_CP13- 16 (Autosaved).pdf
Further information is also available in the BKB Report:
20161117 WolmarkP1316 CW ENG.doc
Source: Statement
