TOP NEWS: “Global chicken meat production for 2021 is revised 1 percent lower from April to 101.0 million tons driven by a sharp decline in China. China chicken meat production is forecast lower on weaker demand as the swineherd recovers and pork prices decline. Leading world exporter, Brazil will continue relatively robust expansion driven by foreign and domestic demand” – USDA, Foreign Agriculture Service
Tractor and combine harvester sales
“June tractor sales of 633 units were almost 43% more than the 444 units sold in June last year. Year-to-date tractor sales are now 27% up on last year. In June there were 30 combine harvester sales, 13 units more than the 17 units sold in June last year. On a year-to-date basis combine harvester sales are now almost 32% up on last year. With excellent summer crops, overall, and good prospects for winter crops, optimism within the agricultural machinery industry continues to be at a high level” – Karel Munnik, South African Agricultural Machinery Association
Grains and Oilseeds
” Maize: Local white and yellow maize prices have tracked global markets lower for the week ending 9 July. This has been offset, to some extent, by a weaker rand. Local white and yellow maize prices decreased by 6.6% and 7% respectively compared to last week. Wheat: Local wheat prices moved largely sideways compared to the week before but increased by slightly more than 2% compared to the corresponding time in June. This monthly increase is a result of a depreciating rand. Oilseeds: In the week ending 9 July, local soybean spot prices decreased by 3.7% on the back of lower global prices. Month on month movements was largely sideways with the weaker rand countering lower global prices” – Abrie Rautenbach, Marlene Louw & Nkhensani Mashimbyi, ABSA Agri Trends: Grains and Oilseeds Report.
“Beef: The average prices of class A2/A3 and AB2/AB3 decreased w/w by 1.9% and 3% to R51.97/kg and R50.78/kg, respectively. The average prices of class B2/B3 and C2/C3 decreased w/w by 2.8% and 6.5% to R48.53/kg and R43.26/kg, respectively. Lamb and Mutton: The average prices of class A2/A3 and AB2/AB3 decreased w/w by 2.1% and 4.9% to R98.21/kg and R83.40/kg, and prices of class B2/B3 and C2/C3 decreased w/w by 5.5% and 4.5% to R75.27/kg and R72.19/kg, respectively. The average mutton and lamb prices were about 17.5% higher y/y” – Miane Mofokeng, Standard Bank Livestock Bi-Weekly