Market Synopsis

Agri Market Synopsis Week 26

GRAINS
Maize: “The Local Maize Market traded Weaker on Friday. The July white maize futures contract decreased by R43/ton and closed the session at R3048 ton. The July yellow maize futures contract fell by R56/ton and closed the session at R3180/ton. Wheat. The local wheat market traded mixed on Friday. The July wheat futures contract remained unchanged. The September wheat futures contract decreased by R10/ton and closed the session at R5010/ton. Soyabean. The local soybean market in mixed trading Friday. The July soybean futures contract climbed by 21/ton and closed the session at R7245 ton. The September soybean futures contract traded R5 / ton higher and closed the session at R7330/ton,” – Grain SA, Market Commentary.

MEAT
Beef: “The average prices of class A2/A3 and AB2/AB3 decreased w/w by 1.6% and 0.6% to R51.83/kg and R51.07/kg, respectively.
• The average price of class C2/C3 increased w/w by 1.1% to R44.49/kg. The weaner market was bullish w/w following higher demand in the market. The average weaner price increased w/w by 1.1% to R38.46/kg. Mutton and Lamb. The average mutton and lamb prices were bullish w/w with the average prices of class A2/A3 and AB2/AB3 increased w/w by 0.6% and 3.5% to R93.27/kg and R85.44/kg, respectively.  The average prices of class B2/B3 and C2/C3 increased w/w by 1% and 2.5% to R76.26/kg and R72.03/kg, respectively and with the average mutton and lamb prices were about 23% higher y/y,” – Maine Mofokeng, Standard Bank Bi-Weekly Report.

Fruits and Vegetables: “On the domestic market, this week so far saw downward pressure on vegetable commodities with butternuts posting the biggest decrease of 8% week on week (w/w) during the first four days of the week at R32.82kg which is still way below last week’s full week average of R4.09 kg. Onions followed closely with a decrease 6.4% w/w so far at R3.94 kg which is almost 4% below last week’s full week average of 4.08 kg. Potatoes, cabbages, and tomatoes have so far dropped by 3.7%, 3.7% and 1.1% relative to last week,” – Paul Makube, FNB Agri Weekly.

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