Agri-Market Synopsis is a weekly agricultural market economic insights sourced from various agricultural commodities.
“The penultimate sale of the 2020 winter season took place in Port Elizabeth today, 24 November 2020, with 101 761 kg on offer of which 90% was sold. The offering consisted of good quality mohair. The overall demand for mohair remains good, with good competition between the buyer houses, especially for the RMS-certified mohair. The market indicator decreased by 1% (gained 1% in dollar terms) from the previous auction to close on R244.70 per kg. A highest price of R590 per kg was paid for two different bales. One 24 micron and the other 25 microns. Both good style kid mohair bales. Compared to the previous sale, prices were as follows: Kids Down 1%, Young Goats Unchanged, Fine Adults Unchanged, Strong Adults Down 2%, Average Down 1%. The final sale of the 2020 winter season will take place on 8 December 2020” – Mohair SA, Market Report Catalogue: 202015.
“Maize – The local maize market mostly came under pressure on Friday and traded weaker for the day in most of the contract months of both white and yellow maize currently listed. The white maize market traded lower for delivery in July 2021 R29 / ton for the day to close at R2 907 / ton. The yellow maize market traded lower for delivery in July 2021 R26 / ton to close at R2 950 / ton.
Soyabean – The local soybean market was mostly volatile on Friday and traded mainly lower for the day in most of the contract months currently listed. The local soybean market traded R2 / ton higher for delivery in May 2021 for the day to close at R7 412 / ton.
Wheat: The local wheat market mostly found support on Friday and traded stronger for the day in most of contract months currently listed. The local wheat market traded for delivery in December 2020, R3 / ton higher to close at R4 836 / ton.” – Ikageng Maluleke, Grains SA Morning Grain Market Commentary
“In the meat subcategory, inflation continued to trend upwards by 1.6%m/m and 6% y/y on the back of resilient seasonal demand and improved production conditions that enhance herd rebuilding and stock retention. Meat inflation has trended below 6% since April 2020 but has bottomed out in the last two months and likely to retain the current momentum until the end of the year. The year trend in local meat prices still shows an upward trend across most categories except for poultry which remains mixed with fresh whole bird prices still under pressure while the IQF and frozen whole bird are now in positive territory in recent trades.” – Paul Makube, FNB Agri Weekly
“The Citrus Marketing Forum (CMF) adopted the Soft Citrus Variety Group’s (VFG) March 2020 estimate of 23.3 million cartons – a whopping 27% increase on 2019’s 18.3 million cartons. This increase was not unexpected – given the plantings over the past number of years. As the season ends, we look back on another excellent estimate by the VFG’s and CMF – the final packed figure is 23.7 m cartons – a mere 1.7% greater than estimate. However, estimation within regions was not as spectacular; Sundays River (-2.7%), Patensie (-3.5%) and Senwes (+3.5%) were under the 5% discrepancy which is deemed excellent; Boland was +7.2% which is considered good. Burgersfort/Ohrigstad could be forgiven for their -16.7% discrepancy as they complete their first year as a separate region, while the Western Cape underestimated the recovery from drought (+27.3%).” – Justin Chadwick, Citrus Growers Association, From the Desk of the CEO
Disclaimer: The information presented here is not a reflection nor endorsement by Mzansi Agriculture Talk. Some of the economic insights are estimates. Interested parties wishing to gain more insight should contact the mentioned individuals.