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Improvement in the cattle market to uphold sectoral growth says Agribank

Improvement in the cattle market to uphold sectoral growth says Agribank

Signs of recovery from the prolonged drought are starting to emerge, as the beef market recorded a 20% growth in cattle marketed for the first half of 2022, according to Agribank’s monthly market watch released this week.

According to the report, about 20,000 more cattle were sold by June 2022, adding to the year-to-date total number of cattle marketed of 121,555 compared to the 101,016 during the same period of 2021.

“The improvement is as a result of a 17% surge in live exports to 67,262 in the half year 2022 compared to 57,262 during the same period in 2021. Farmers in the Southern Veterinary Cordon Fence are leaning towards weaner live exports for higher returns. Therefore, the number of cattle marketed to local abattoirs in the S-VCF reduced by 28% to 15,166 cattle in the half year 2022, compared to 18,933 in 2021,” the report noted.

Progress is noted at abattoirs, North of the Cordon Fence, with a 146% increase to 2,048 cattle marketed in the first half of 2022 compared to 831 in 2021. This is in line with upbeat cattle activities, resulting from the reopening of the Katima Mulilo abattoir and the export of beef to Ghana and Angola.

Double-digit growth in the small stock industry

The small stock marketing performed relatively well in the first half of 2022, recording a 33% increase to 378,008 heads from 284,778 in 2021. Live sheep export continues to be the major driver of this sector, due to favorable market conditions. Therefore, sheep slaughtering was reduced by 15% in the first half of 2022, to 53,821 from 63,505 in the same period in 2021.

The pork market is set to realize its full potential

During the first half of 2022, at least 22,863 were slaughtered by Meatco registered abattoirs a 4% increase from the 21,921. Stable growth in the industry can be attributed to the Meat board’s initiatives under the Pork Market Share Promotion Scheme, to assist local producers with market access amidst cheap imports.

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