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