19 May, 2020

::: Cape mohair sale 19th May 2020 :::

CAPE MOHAIR SALE CAT:  20/04        19/05/2020

Exchange rates – USD 1.00 = R 18.2100  /  EURO 1.00 = R 19.9035
Previous sale -   USD 1.00 = R 16.6700   /  EURO 1.00 = R 18.3203

637 bales offered, 606 or 95% sold.

BUYERS
SAMIL                     295/ 8
STUCKEN                239/ 7
MOS                         33/ 0
SUEDWOLLE SA      39/ 0
NE                          0/ 0

PASSED                    16

The sale of Cape mohair continued today after auctions had been suspended for a period of eight weeks due to the national lockdown. The quantity on offer is manged by the brokers in order to insure an orderly flow of raw maerial to the market.

South Africa is following a risk adjusted approach to deal with the Covid-19 pandemic while infections in the country are steadily increasing. Export, agro-processing and manufacturing are allowed under stirct safety measures and restrictions.

There was less competition in the auction room today, especially from the buyers exporting directly to Europe. Prices for super kid types remained firm due to the seasonable availability of these types. Young goats, which accounted for nearly 50% of the offering , traded cheaper and lots with poor lenght and clean yields were discounted accordingly. The Rand continues to be volatile against major currencies, but has reversed some of the losses suffered during the last month as investors are starting to buy high yielding governement bonds.

In comparison with the previous sale price movements were as follows:
Kids                     – 2%
Young goats         – 6-7%
Fine Adult
Adult                   – 5%

The next Cape auction takes place on the 02nd June with approximately 85.000kg on offer.