17 March, 2020

::: Cape mohair sale 17th March 2020 :::

CAPE MOHAIR SALE CAT:  20/03        17/03/2020

Exchange rates – USD 1.00 = R 16.6700  /  EURO 1.00 = R 18.3203
Previous sale -   USD 1.00 = R 15.5250   /  EURO 1.00 = R 17.2328

954 bales offered, 858 or 90% sold.

BUYERS
SAMIL                     318/ 34
STUCKEN                349/ 32
MOS                         55/ 4
SUEDWOLLE SA      108/ 13
NE                          28/ 0

PASSED                    13

The South African government declared a ntional disaster on Sunday evening as 61 cases of Covid-19 were recorded in the country. This entails travel bans from eight high-risk countries including China, Italy, UK and the USA, the closure of certain points of entry, early closure of schools for the Easter holiday as well as a ban of large scale events. Factories and ports remain open and the movement of goods have not been affected.

The mohair market held up remarkably well considering the present uncertain global environment. Some Buyers took a cautious approach given the decline in economic activity in key export markets. Others utilized the opprtunity to purchase some stock given the decline in mohair production this summer season. The Rand remains extremely volatile against major currencies.

In comparison with the previous sale price movements were as follows:
Kids                     – 3%
Young goats         – 3%
Fine Adult            – 4%
Adult                   – 2%

The next Cape auction takes place on the 07th April with approximately 150.000kg on offer.