SA wool markets sustains prices

Port Elizabeth - The South African wool market this week was virtually unchanged amid a small offering, Cape Wools said on Wednesday.

Company spokesperson Lizelle Delport said Cape Wools' Merino indicator closed up on a marginal 0.5% at R120.77/kg (clean).

"This is a 18.5% increase on the opening sale and is up 4.4% on the corresponding sale last year."

Delport said a smaller offering of good quality wool translated into higher prices for better style wools. Traders were of the opinion that this shortage of good wool was helping to sustain the current wool price. READ MORE

Source: Fin24.com #IFAMAFRICA