In 2022, the importance of relative price differences between meat products became apparent when pork traded below chicken in selected months and captured increased market share in the meat complex. There was also firmer demand for Class C beef which caused the price differential between Class A and Class C beef to shirk somewhat. Our view is that these shifts were underpinned by a consumer under pressure where ongoing income pressures made consumers more receptive to relative price changes than would normally be the case. Within this context, we explore what livestock market prices could look like over the months to come.
Price indices in the meat and livestock complex over time
Beef Class A Index Beef Class C Index Lamb Index
Porker Index
IQF Index
160 150 140 130 120 110 100
90 80 70 60
Beef Class A Index
Beef Class C Index
Lamb Index
Porker Index
IQF Index
Source: Absa AgriBusiness, 2023
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