Cape Wools
“The wool market once again delivered good results this week and closed 2,1% up from the previous week on an average of R172,63 p/kg. A total of 9 640 bales were offered, with certified sustainable wools comprising 13% of the merino wools offered. The strengthening of the rand during the sale made trading more challenging, but the rand ultimately closed 1,7% weaker against the US, also delivering a positive return of 0,4% in US$ terms. All micron categories delivered positive results, with the fine micron and sustainable wools attracting strong competition from the buying houses.” – Cape Wools SA, Weekly Market Report
Tractor and Combine Harvester Sale
“January tractor sales of 445 units were significantly (28%) more than the 348 units sold in January last year. There are still quite a few variables which may affect summer crops, so there is some caution in the industry. Nevertheless, prospects look good in the short- to medium-term. Initial estimates for the 2021 calendar year are quite encouraging, with sales likely be up to 10% higher than in 2020.” – Karel Munnik, South African Agricultural Machinery Association
Grains
“Maize – The local maize market traded weaker yesterday on all the contracts listed for white and yellow maize. The white maize market traded lower for delivery in July 2021 at R 33 / ton for the day to close at R 3 127 / ton. The yellow maize market traded lower for delivery in July 2021 R 41 / ton to close at R 3 239 / ton. Soyabean – The local soybean market traded volatile yesterday and closed lower on all contracts currently listed. The local soybean market traded for delivery in May 2021, R 150 / ton lower for the day to close at R 7 880 / ton.
Wheat – The local wheat market lost support yesterday and ended weaker over all listed contracts. The local wheat market traded R 58 / ton lower for delivery in July 2021 and closed at R 5 301 / ton.” – Ikageng Maluleke, Grain SA Market Commentary
Livestock
“Tight supplies of beef and sheep from major regions were offset by heavy pig inventory and demand contraction for poultry in China which saw the meat price index advancing marginally by 0.4% m/m but still 4% lower relative to the 2020 level at 96.4 points. On the domestic market, the livestock made a huge contribution to the growth of 5.9% q/q (annualised seasonally and adjusted quarterly) in the agriculture GDP in the fourth quarter of 2020 which brough the overall performance to 13.1% y/y.” – Paul Makube,, FNB Agri Weekly
