Meatco prices stabilise livestock industry

Meatco prices stabilise livestock industry STAFF REPORTER

WINDHOEK

A Namibian livestock sector overview presented by the Meat Board of Namibia highlighted that the number of cattle marketed from January to August this year had decreased by 15.87% compared to the same period last year.

According to Meatco, this report indicates that 174 902 head of cattle were marketed by August 2020, compared to 147 146 marketed by August this year.

The company says that last year in August, export abattoirs contributed 21% to the cattle marketed, but there is a significant improvement this year to 26%.

According to the Namibian Statistics Agency (NSA), the agricultural sector performed relatively well in the bizarre shadow of the Covid-19 pandemic.

Official figures show that the sector’s contribution to the Gross Domestic Product (GDP) grew from 4.5% in 2019 to almost 6.6% in 2020, with primary livestock production accounting for more than 55% of this figure.

The Meat Board report clearly indicates that Namibian livestock producers continue to receive the best prices, just as their counterparts in Australia, the United States and the European Union, who are subsidised by their governments.

According to Meat Board statistics, during the months of April and May 2021, Namibia was paying a competitive price against Uruguay, Argentina and Brazil.

Namibian weaner prices this year are on average N$39.58/kg compared to South Africa’s N$37.90/kg. Because the Namibian herd has shrunk and slaughter-ready cattle are scarce, cattle prices have gone up. The average price of slaughter-ready cattle is N$51/kg, and Meatco continues to pay this price.