Livestock exports continue to dominate the cattle market share, with 67% of cattle marketed during the month of November being exported.
Only 3% of cattle marketed last month were slaughtered at local butchers, and 30% of cattle were slaughtered at export-approved abattoirs.
This according to the Meat Board of Namibia’s Beef Market Watch issued this month.
Cattle marketing has declined by 9.12%, it said. “This is mostly due to the decline in live exports between mid-August and October.”
The Meat Board further pointed out that November recorded a 17.61% decline in live exports of cattle, with only 12 908 heads of cattle exported compared to October.
Meanwhile, the number of cattle slaughtered at export-approved abattoirs saw an increase of 4.22%.
Prices
According to the Meat Board, the average carcass price at export abattoirs remained on an upward trend, and increased by 10 cents from last month’s price of N$60.53/kg.
“Weaner prices have increased due to higher demands as feedlots prepared for December,” it said.
The board added that weaner prices increased by N$0.98 from October and are expected to increase throughout December and January 2023.
“The November price of N$38.43/kg is a 4.24% increase from the dip experienced in August due to an over-supply of weaners as a result of the restriction of South African exports; and a 7.6% increase from the price of the previous year.”
Further, South African Futures Exchange (Safex) feed prices continue to rise due to the ongoing Russia-Ukraine war and dependence on imported raw materials.
The Meat Board added that Namibia exports the majority of its weaners to South African feedlots due to the incapability to raise slaughter-ready animals due to the operational costs involved.
Change in markets
“Feed prices are expected to decline during 2023 and will fluctuate around N$5 000 per tonne according to the futures markets.”
November saw a change in international markets, with the American beef price surpassing the Australian price by N$1.57/kg, it said.
According to the Meat Board, the top four beef export destinations for the year were the European Union, South Africa, Norway and China, holding a market share of 42.87%, 21.97%, 13.44% and 13.19% respectively.
Norway continued to dominate with the average price received between January and October being N$213.39/kg. The lowest prices received for beef exports among the top four destinations was China, receiving N$39.90/kg on average for the year.
[Source – Republikein]