5 November, 2019

::: Cape mohair sale 5th November 2019 :::

• CAPE MOHAIR SALE CAT:  19/14        05/11/2019
• Exchange rates – USD 1.00 = R 14.6930  /  EURO 1.00 = R 16.3019
  Previous sale -   USD 1.00 = R 14.8800  /  EURO 1.00 = R 16.3382715 bales offered, 671 or 94% sold.

  BUYERS
  SAMIL                     256/ 15
  STUCKEN                281/ 12
  MOS                        73/ 8
  SUEDWOLLE SA       58/ 2
  NE                            3/ 0

  PASSED                    7

  It is estimated that Cape mohair offered on the auction system for the winter season of 2019 will decrease by 6% compared to the previous year. The production area is in the grip of one of the worst droughts in decades which has resulted in poor yields. While some producers continue to spend money on supplement feed others are forced to reduce goat numbers. Given the significant price difference between fine and coarse mohair most farmers prefer to sell their older animals subsequently reducing the quantity of adult mohair offerred in the market.

  By analysing the supply side of the market the upwards price movement on today’s auction does not come as a surprise despite sluggish demand from most export markets.

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

  The next Cape sale will take place on 19th  November with approximately 90.000kg on offer.