Port Elizabeth - The South African wool market put up a lacklustre performance this week, Cape Wools said on Wednesday.
Company spokesperson Lizelle Delport said Cape Wools' Merino indicator shed 1% to close at R114.22/kg (clean).
"Traders report reluctance from some clients to buy at current price levels, while demand from other areas remains firm."
Nevertheless, Delport said prices remained at high levels with the indicator up almost 12 percent on the opening sale.
This week's national offering was fairly small with 8879 bales, of which 97 percent was sold.
Major buyers were Lempriere (2389), Standard Wools (2290), Stucken & Co (1336) and Modiano (1107).
The next national sale was scheduled for February 26 when approximately 6500 bales would be on offer.