Live cattle exports increase
Rise in exports due to drought conditions
The LLPB noted that weaner prices are expected to remain on the decline until mid-August, but are expected to start improving as feedlots begin stocking for the festive season.
Cattle marketing increased by 28.8% during the second quarter of this year, with a total of 109 192 cattle marketed.Live exports also recorded an increase due to drought conditions.
According to statistics provided by the Livestock and Livestock Products Board (LLPB), live cattle exports recorded an improved performance, with a total of 51 665 heads exported, mainly due to drought conditions.
Weaner prices averaged N$24.45/kg, whereas the average price for beef of all grades was N$59.76/kg during the quarter.
“Weaner prices have generally been on a decline since the beginning of the year. Weaner prices are expected to be on the decline until mid-August, after which they are expected to start improving as feedlots will commence stocking for the festive season,” the LLPB stated.
It said the weaner/B2 ratio remained constant at 40.9% during the second quarter of 2023 and 2024.
“The low ratio below the 64% benchmark represents relatively stable producer carcass prices paid by abattoirs. Additionally, a healthy weaner/B2 ratio is crucial for reducing the market share of live weaner exports and is obtained by a continuous increase in producer carcass prices given a certain level of weaner prices.”
On the meat trading front, beef exports totalled 8 031 908 kg, growing by 59.4% during the second quarter and bringing the year-to-date total beef exports to various destinations to 10 968 092 kg, 69.7% higher compared to 2023.
During the first half of 2024, the EU accounted for 40.4% of total beef exports, while the UK, South Africa and Norway accounted for 23.6%, 21.3%, and 12.2%, respectively, as top destinations.
On the other hand, year-to-date beef imports are down by 5.6%, pointing to the improved availability of locally produced offal.
Sheep sector
The performance of the sheep sector during the second quarter was mainly driven by live exports of sheep to South Africa.
According to the LLPB, the sector recorded growth during the period under review.
A total of 310 481 sheep were marketed during the second quarter of 2024, 10.9% more than the 279 816 sheep marketed during the second quarter of 2023.
Although recording a decline of 3%, sheep prices have remained resilient during the second quarter of 2024, with the lamb dorper producer price averaging N$30.63/kg in comparison to N$31.58/kg in the comparable period of 2023.
The sheep all-grade carcass producer price averaged N$47.26/kg during the second quarter, while the average A2 carcass producer price came in at N$70.63/kg.
The LLPB said that year-to-date exports of lamb and mutton fell by 21% due to poor slaughter activity.
Lamb and mutton exports declined by 34.8% during the second quarter compared to the same period last year.
The second quarter of 2024 recorded 247 561 kg of mutton exported to South Africa, compared to 379 858 kg exported in 2023. Similarly, mutton imports remained relatively low, declining by 23.4%.