Encoder Cable?

Is Microphone cable good for hookin' up encoders? Or should I be
looking for another kind of cable? Cable is damned expensive
(especially since it tends to be sold in reels). Anywhere, here's
what I am looking to order:

4 core microphone cable, pvc sheath (50M reel!):
Four 14/0·12mm tinned copper stranded conductors, PVC insulated and
lapped with polythene tape. Core colours are white, red, green and
blue. Single screen close lapped 48/0·15mm tinned copper wire.
Overall sheath grey PVC. Capacitance 120pF/m. Dia 4·7mm.

What about the capacitance? Is that going to block encoder signals?

This is for use with Geckos and those big-big servo motors on Dan's
site. I'm going to use regular 3-strand electrical cable (the nice
bright orange type they use for outdoor stuff like electric
lawnmowers) high ampage, to deliver the power to the motors.