Market Synopsis

Agri Market Synopsis Week 16

Top Market News: “The 4th mohair sale of the 2021 summer selling season turned out beyond expectations again. There was a lot of concern about financing the two big sales of the season, but again, the demand surprised everybody in a good way. Most price records were broken again except the summer kid record and the stronger adults. This time around the sale was stretched over 2 days and this experiment worked well, although the sale still finished at 18h00!” – House of Fibre 

MOHAIR
“The fourth sale of the 2021 summer season took place in Port Elizabeth today, 13 April 2021, with 173 039 kg on offer of which 97% was sold. The offering consisted of good quality mohair, with a highest price of R910 p/kg paid for a bale of 23 micron super style kid mohair. The competition amongst the buying houses were strong throughout the day as the demand for mohair remains consistently strong. RMS certified mohair was once again the most sought after mohair offered on the sale today. The average market indicator increased by 3% (increased by 6% in dollar terms) from the previous sale, to close on R406.93 p/kg despite the stronger SA currency. Compared to the previous sale, prices were as follows: Kids Up 3%, Young Goats Up 1%, Fine Adults Down 1%, Strong Adults Up 9%, Average Up 3%” –  Mohair SA, Mohair Market Report 

PORK 
“The Average Purchasing Price (excl. sows) reached R29.08/kg (in nominal terms) during Week 16 of 2021, up 1.7% from Week 15. The SAFEX Yellow Maize (R/kg) averaged R3 380/ton this week (+4.3%), resulting in the Purchasing Price to SAFEX Yellow Maize ratio reaching 8.6 (-2.6%). The quantity of animals sampled during this week amounted to 26 565 pigs (-17.5%)” – South Africa Pork Association, South African Pork Industry Report

WOOL
“Port Elizabeth – The wool market continued to strengthen on the 30th sale of the season and gained 3,7% from the previous sale, to close on R162,74 p/kg.  A total of 9 483 bales were on offer, with the majority of the offering consisting of merino wools, falling in the medium length category. The market followed the upward trend in the Australian market this week, with better all-round buyer sentiment driving prices upward All micron categories delivered positive results, with the medium microns performing the best on the day, amidst good competition from the buyers. An overall sales clearance of 96,06% was achieved, with good after sales assisting in achieving these good levels amidst some seller reserves not being met.” – Cape Wools, Market Report.

GRAINS
“In the grain markets: This week saw further strength in grain futures prices on rand weakness and spill over gains from the surging international prices amid weather challenges in the US and tightening global stocks. At levels above R3 000/ ton for maize, livestock feeding margins remain under pressure and currently yellow maize is trading at a premium over its white counterpart.” – Paul Makhube, FNB Agri Weekly.

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