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High cattle numbers bring optimism for Meatco

Meatco recorded increased cattle numbers coming through the Windhoek abattoir, resulting in good performances which generated between N$1207 million and N$290 million in revenue in May and June, respectively.

According to a statement issued by the company on Tuesday, this provides hope that this performance could lead to a consolidated recovery for the company’s financial year, running from January 2023 to February 2024.

“Meatco aims to accomplish its commitment to pay producers on time, while managing and paying suppliers to ultimately maximise returns from the lucrative niche markets where we market our premium meat products. Going forward, Meatco projects another profit for July,” said the statement.

According to the Meat Board of Namibia, livestock and meat marketing rebounded during the second quarter of 2023. The growth was mainly driven by the increase in exports at the export abattoirs.

Cattle marketed increased from 78 212 representing an increase of 8,0% of total cattle marketed during the second quarter of last year.

Meatco says the ratio between live exports and slaughtering in the country improved, with 53,0% of all cattle sent to A, B and C class abattoirs, while live exports market share reduced and averaged 47,0%, a decline of 5,9% of total marketing.

The company said producers responded well to the good prices paid by A-class abattoirs. The B2 producer prices paid by export-approved abattoirs south of the veterinary cordon fence (SVCF) averaged N$61,06/kg, a 0,5% increase from the average N$60,77/kg paid during the same period last year.

A total of 38 401 animals were slaughtered at Meatco abattoirs, with 2 079 slaughtered in the northern communal areas and 36 322 south of the veterinary fence as of end July. The average slaughter weight for January was 250,3 kg and the average price was N$58.84.

“In February, the average weight slaughtered was 259,96 kg against an average slaughter price of N$60,30, while in March the average weight was 250,36 kg with a N$60,31 average slaughter price,” said Meatco, adding that for April, an average weight of 251,64 kg was slaughtered with an average N$60,24/kg paid to producers, whereas in May the weight was 253,22 kg with a N$59.67 average price paid for the month.

The company said for June, the average slaughter weight was 253,63 kg, while the average price was N$60.13.

Meatco has budgeted to slaughter 50 000 animals SVCF and 10 000 NVCF for the 2023/24 financial period.

The total marketed volumes for the period January-June were 5 515 metric tonnes, which generated a total value of N$444 million derived from local, regional and international markets.

The Ministry of Industrialisation and Trade in collaboration with the Meat Board approved a quota allocation of 75% (1 200 tonnes) to Meatco for export to the lucrative Norwegian market during 2023.

Meatco has already filled the quota with 893 metric tonnes as of the end of July. The quota has been effective from 1 January and must be fulfilled before 31 December.

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