Livestock market surges in January: Cattle sector leads growth
In January 2024, livestock marketing activities surged to 66,897 head, showing a significant rise from the previous year and a slight dip from December 2023, according to Simonis Storm Securities (SSS) analysis.
Cattle marketing notably rose, with 20,398 head marketed, compared to 12,659 in December 2023. The Livestock and Livestock Products Board of Namibia attributes this growth to increased exports of weaners to South Africa, driven by anticipated improvements in grain harvests.
Goat marketing also saw an uptick, with 6,596 goats marketed in January 2024, compared to 5,554 in January 2023.
The pig sector experienced growth as well, with 4,306 pigs marketed, marking a 13.6% increase from January 2023. However, sheep dominated the market with 35,597 heads.
Analysts from SSS noted Europe as the primary destination for Namibian beef exports, securing 79.6% of the total 640,650 kilograms exported in January 2024. South Africa remained a significant African market, importing 105,716 kilograms, while China emerged as a key market in the ‘rest of the world’ category.
SSS emphasized China’s role as a growing market, showcasing Namibia’s success in diversifying export destinations. This underscores the strength of Namibian beef in international markets and strategic export initiatives.
Meanwhile, fish exports maintained their status among the top five exported items, contributing 9.6% to total exports. With primary destinations including Spain, Zambia, and Mozambique, fish exports contributed to a trade surplus of N$1.1 billion in December 2023.
