Week 43 – 44
From the above graph we learn the following :
- It is safe to trade between R45.25 and R46.22 for A2
- It is safe to trade between R38.73 and R40.82 for B2
- It is safe to trade between R36.00 and R36.75 for C2
Local Meat market
Week on week, beef prices moved negatively across the different classes due to subdued demand. The average Class A price was 0.2% lower this week at R45.25/kg. Class C prices moved 0.9% lower at R36.75/kg. The average weaner calf prices over the past week traded 0.8% lower at R29.77/kg. The South African Weather Service’s latest release indicated a poorer rainfall outlook over the coming months. Below normal rainfall is expected over the eastern regions of SA however, the western regions of the country could possibly receive above normal rainfall between November 2019 and January 2020. Higher day temperatures are expected over this period, which could lead to damage of crops due to very hot conditions and high evaporative demand. All this is painting a poor picture of the prospects for the upcoming summer crop production season, which could spill over into the livestock sector. The number of cattle slaughtered decreased by 6.6% month on month, however increased marginally by 0.97% year on year.