The national average weaner calf price for animals between 200 and 250 kilograms has decreased and is trading at R34.22 per kilogram, with “out-of-hand” sales now at R35.64 per kg. Lighter calves between 160 and 200 kilograms have risen to R33.62, while heavier calves between 250 and 300 kilograms have increased to R32.98 last week. Bulk calves, averaging 224 kg, are priced at R33.78, with varying calves averaging 220 kg now at R31.95. Prices have also risen in the different regions, with the average price in the Free State at R34.98, while the price in the Northern Cape is trading at R33.94.
As discussed last week, calf prices have now reached a turning point and could potentially decline further until the beginning of March, and may stabilize around R32.50. From March to April, prices could move sideways again, but calf prices are expected to come under further pressure during May, when we usually see higher supply. It currently seems that the average price should remain above the R30 mark, with a low point expected by the end of June. The good news is that slaughter prices have stabilized, with the A2/3 carcass price now at R55.96, while the C-grade price drops to R48.33 per kilogram. Slaughter prices could potentially stay at a lower level until the end of February, and then start rising again from March to May. The average cow price stands at R11,686 per head, with cows and calves now at R14,222.
In the sheep industry, the average feeder lamb price has risen to R40.56, with the slaughter lamb price higher at R42.05 per kilogram. Direct or “out-of-hand” sales prices are rising, with the direct feeder lamb price at R40.62 and direct slaughter lamb prices lower at R41.16 per kilogram. The average store lamb price in the Free State has increased to R42.12, with the price in the Northern Cape at R37.24 per kilogram. Our expectation is that the price should not move much over the next month, but we might see better prices from March to mid-July.
The A2/3 price is rising and maintaining good levels at R96.61, while the C2/3 price continues to rise to R68.49 per kilogram. Ewes traded at an average of R1,525 per head, with rams averaging R1,970 per head. We also don’t expect much further price decreases for now, but slaughter prices could reach a low point by mid-March, after which they may sharply rise again until the end of June, when we traditionally reach a peak every year.
The RWS wool clean price rises to R177.69 per kg, while non-RWS wool prices also rise to R174.88 per kilogram. Wool prices in Australia are rising, with the average price at AUS $12.15 per kilogram. There has been much better demand at the Australian auctions, with strong competition among buyers pushing prices up. This could further boost our market this week.
The frozen ex-abattoir price rose last week to R32.97, while fresh prices dropped to R35.00, and the IQF price also dropped to R32.25 per kilogram. The expectation remains that lower demand could put prices under pressure in the first few months of 2025, with prices potentially reaching a low point by the end of March for the year.
Pork prices remain very sideways, with the latest bacon price at R32.40, the meat pork price trading lower at R32.61, while the latest sausage pork price drops to R25.20 per kilogram. The expectation is that prices will likely remain in a systematic downward trend and then receive market support after winter, which is usually around mid-July.
Goat prices have had mixed results, with the latest large goat price lower at R37.56, small goat prices falling to R46.89, medium goat prices dropping to R45.33, while goat ewe prices, however, rise to R42.68 per kilogram. Prices are expected to decrease further now and then start rising again from early April in an upward trend.
The feed market remains under pressure, and we see that the latest average Grade 1 lucerne price has increased slightly to R3,100 per ton, while prime domestic lucerne is trading at R3,750, and Grade 2 lucerne was trading at R2,500 last week. The import parity price for soybean meal is trading at R11,051, while yellow maize drops to R5,215 per ton.
Chop prices remain under pressure due to higher demand from feedlots, with the average price falling to R3,750 per ton last week.
