4 June, 2024

::: Cape mohair sale 4th June 2024 :::

CAPE MOHAIR SALE            04/06/2024
CAT 24/ 07

Exchange rates -                       USD 1.00 = R 18.6370     EURO 1.00 = R 20.2472

Previous sale (14/05/2024)         USD 1.00 = R 18.4045     EURO 1.00 = R 19.8585

1339 bales offered, 1205 or 90% sold

BUYERS
SAMIL                           461/ 14
STUCKEN                      492/ 24
SUEDWOLLE                   50/ 0
VBC WOOL SA                55/ 0
MOSENTHALS                 39/ 1
CONNACHER                   22/ 0
STANDARD WOOL SA       0/0
PASSED                           93

The auctioned opened firm with keen competition from most buyers. The market eased later in the day as quantities were filled. As per the previous sale good quality super kid bales fetched substantial price premiums.

The quantity offered on auction during the summer season increased by up to 10% compared to the previous year which reflects a remarkable recovery in Cape Mohair production.

South Africa’s national and provincial elections took place on the 29th May. The ruling party, who enjoyed an outright majority since the dawn of democracy in 1994, only managed to obtain 40% of the votes. With no clear majority a coalition needs to be established within the next two weeks. The uncertainty surrounding the trade-offs and possible coalition partners contributes to a sell-off in the stock market and volatility in the local currency.

Price movements
Kids                   – 2 %
Young goat         – 2 %
Fine Adult           – 2 %
Adult                  – 1 %

The first Cape auction of the winter season will take place on the 20th of August with approximately 120 tons on offer.

Summer season’s purchases

8531 bales offered, 8042 or 94% sold

BUYERS
SAMIL                         3255/ 66
STUCKEN                    3304/ 95
MOSENTHALS               851/ 8
SUEDWOLLE                384/ 18
VBC WOOL SA             137/ 2
CONNACHER                105/ 1
STANDARD WOOL SA      6/ 0
PASSED 299