Top News: “In order to minimize the risk of cold spell impacts during the winter season, farmers should also practise preventative measures with regard to livestock hypothermia and frost damage on crops” – Agricultural Research Council, Umlindi Watchman
Tractor Sales: “May tractor sales of 518 units were almost 13% more than the 459 units sold in May last year. Year-to-date tractor sales are now 24% up on last year. In May there were 35 combine harvester sales, four units more than the 31 units sold in May last year. On a year-to-date basis combine harvester sales are now 24.0% up on last year. There is continuing optimism in the industry, with several of the crop estimates having been increased by the Crop Estimates Committee in their latest estimate in May. The overall maize crop is now expected to be almost 6% up on last season and the soya bean crop, the largest ever, over 50% up on last season” – Karel Munnik, South African Agricultural Machinery Association
Pork: “During May 2021, retail prices of selected pork products (incl. Bacon products), reached an average of R107.74/kg, a month-on-month decrease of 0.02%. Compared to the same month during 2020, a year-on-year increase of 11.2% was reported” – SAPPO, Retail Price South African Pork Industry Report, May 2022
Crude Oil and the Exchange Rate: “Comparing May 2020 to May 2021, y-o-y, the price of crude oil increased by 106.6% while the exchange rate appreciated by 21.4%. This represents a rebound from the 2020 average price of crude oil, but it is still lower than pre-COVID levels. The gains reflect improving oil demand due to progress in recovering global economic activity. In May 2021, the price of crude oil and the exchange rate reached levels of US$68.50/barrel and R14.23/$, respectively” – National Agricultural Marketing Council, Macro Economic Digest.
Beef and Lamb: “Beef and sheep carcass prices were firmer on resilient demand and supply tightness while the weaner calf and lamb markets came under pressure and eased lower by 2.4% and 2.6% respectively week-on-week (w/w) at R37.54/kg live weight (LW) and R48.08/kg LW. The current weaner calf and lamb prices are however sharply higher by almost 34% and 20% relative to the 2020 levels. The combination of limited availability and the resilient consumer demand helped maintain prices in the meat complex elevated across the board with the pork and baconer categories being the biggest gainers” – Paul Makube, FNB Agri Weekly