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