Red meat prices could skyrocket in 2017

To meat, or not to meat? That is the question!

South African consumers should brace themselves for a massive hike in red-meat prices as livestock farmers battle to rebuild their herds after a three-year drought, warned Agri Eastern Cape analyst and national vice-chairman of the Red Meat Producers Organisation, Pieter Prinsloo.

Prinsloo noted that beef prices were expected to increase well over 30 per cent this year.

ALSO READ: More culled animals to be processed in Kruger abattoir for meat gifts

“This decrease in animals sent to the slaughter has led to a price hike in beef of approximately 30 per cent, which is unfortunately much higher than the year-on-year hike of between five and six per cent,” he said.

“This is expected to rise even further in the near future due to the limited availability of slaughter stock.”

Prinsloo added that sheep are typically not affected as much by drought conditions and have a shorter reproduction cycle, which means that the recovery of the herd is a lot faster than cattle’s.

However, he noted that while price increases for lamb and mutton would be less than the hikes for beef, consumers could still expect an increase of five per cent, which is on par with the annual price increases.

ALSO READ: Meat prices expected to increase before December

According to Absa’s agricultural outlook for mutton in 2017, the increase is similar to its expectations and noted that consumers should also expect similar to above-average increases to the price of pork in 2017.

Absa’s report accounted that the price of eggs and poultry was not likely to increase or even see a decrease over the course of the year due to an overabundance of stock on the market.

Adjusted 2017 price table (beef)

*Please note that this guide is just an estimate