Price dynamics of red meat types in South Africa for the period 2013 to 2017

Abstract

The agricultural product market is changing from a producer-orientated to a more consumer-orientated market. Consumer rely on the classification system within the red meat types. Different red meat types and carcass classifications influence the prices of red meat. This study was conducted to determine the price dynamics of different red meat carcasses and carcass classes. It was theorised that the different red meat classification classes and number of carcasses sold influence the price and demand of red meats. It was also theorised that specific meat classes have a greater influence on meat prices and demand than others. The results of this study supports the hypothesis that red meat carcass type and specific meat classes within carcass type influence red meat carcass prices. There is a differentiation among classes in terms of the degree to which class influences price, since classes were identified that had no influence on price dynamics of other meat types.