19 November, 2024

::: Cape mohair sale 19th November 2024 :::

CAPE MOHAIR SALE            19/11/2024
CAT 24/15

Exchange rates -                       USD 1.00 = R 18.0595     EURO 1.00 = R 19.0690

Previous sale (05/11/2024)         USD 1.00 = R 17.4332     EURO 1.00 = R 18.9813

1110 bales offered, 981 or 88% sold

BUYERS
SAMIL                           397/ 18
STUCKEN                      438/ 12
MOSENTHALS                 85/ 4
SUEDWOLLE                   44/ 0
VBC WOOL SA                16/ 0
CONNACHER                    0/ 0
L LOTTER TRUST              1/ 0

PASSED                          95

The Rand depreciated by 3.5% against a stronger USD in the aftermath of the American presidential election. The more volatile local currency did not have a significant impact on purchase prices today. Processing facilities in South Africa close by mid-December and production will only restart midJanuary. This result in slower stock turnover and increased interest expenses on stock purchased at the end of the year.

Some good news from a South African perspective is that Standard and Poor’s (S&P) credit rating agency upgraded the country’s credit outlook from “stable” to “positive” given increased political stability and reforms which could boost private investment and GDP growth.

Price movements
Kids                    -2%
Young goat         +2%
Fine Adult           unchanged
Adult                  unchanged

The final Cape auction for the winter season will take place on the 03rd December with approximately 120 tons on offer