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Port Elizabeth - Wool prices continued to hold steady at last week's price levels this week, Cape Wools said on Thursday.
Company spokesperson Lizelle Delport said Cape Wools's Merino indicator remained unchanged to close at R114.81/kg (clean).
"This was a 12.6% increase on the opening sale and a 0.5% increase on the corresponding sale of the previous season."
Delport said buyers reported decent competition for better style long-fleece wool, especially on the finer micron end.
She said it seemed the local market was following the international trend as the Australian market decreased by 1.1%.
A total of 8467 wool bales were offered, of which 98% was sold.
Major buyers were Standard Wool (2542 bales), Lempriere (1916), Modiano (1267), and Stucken & Co (1212).
An estimated 13 000 bales would be on offer at the next auction on the March 26 2014.
