James Mortimer 13.Aug.2012Getty Images
Meyer felt that the Chiefs maiden Investec Super Rugby title success gave the World Champions a big advantage, while the former Bulls mentor was wary about the depth of the New Zealand back division.
While the All Blacks take on the Wallabies in Sydney this weekend, the Springboks will play Argentina, but Meyer already had one eye on the South Africans biggest rivals over history.
He told rugby365.com they were the team to beat.
"I think they should be the favourites," Meyer said.
"They (the Chiefs) have won the Super Rugby competition, they are the World Cup champions and they have a lot of depth, especially their backs."
Meyer said the All Blacks were a good team, but said that key for Springboks success was to have an upward gradient of improvement over the tough competition.
"They (the All Blacks) are a quality side," he said.
"What is important for us is to improve every single game."
However the Springboks coach said that it was important that the Springboks did not just focus on the World Champions.
"You will make a huge mistake if you just concentrate on New Zealand. I have a lot of respect for Argentina, that first Test will be very tough," he said.
"You need to win every single game if you want to be the champions. Although New Zealand and Australia are great sides, Argentina is a huge obstacle as well.