High feed prices and lacklustre economic conditions that are depressing consumer spending will conspire to yield a tough year for poultry producers.
The late and insufficient rainfall coincides with weak economic growth, which affects the ability of consumers to afford price increases for meat products. Above-average yields may not be realised in the summer grain production regions. This will lead to higher feed costs for poultry producers, who will eventually have to absorb the increased costs of production.
INCREASED MAIZE PRICES
The unexpected drought during the planting season for summer grain crops had a negative impact on the crop production potential of maize. The lack of rain led to a sharp increase in the prices of grain and oilseed. By the end of November, the price of yellow maize delivered in July 2019 was trading on the JSE at R2 400/t.
As uncertainty increased, the yellow maize contract price for July 2019 continued to rise, reaching R2 855/t by 21 December 2018. The price of yellow maize for delivery in March 2019 increased from R2 347/t to a maximum of R2 845/t by 21 December.
This story is from the January 25, 2019 edition of Farmer's Weekly.
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This story is from the January 25, 2019 edition of Farmer's Weekly.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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