Wool prices softer as euro crisis deepens
According to Cape Wools the drop came despite a softer rand against the US dollar.
The rand weakened on mounting concerns about the outcome of a European Union leaders' summit on the euro-zone debt crisis, said Cape Wools.
At R8.33, the rand was down 5.7% against the greenback compared with the average rate at the previous sale.
This week's offering comprised 8,271 bales of which 93% was cleared. Major buyers were Standard Wool SA (3,182 bales), Lempriere SA (1,668 bales) and Modiano SA (1,240 bales).
No sale has been scheduled for next week. The final sale of the season will take place on 6 June when approximately 12 000 bales will be offered.
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.zaRelated
