Pillars of support are crumbling
Grain markets started to get a bit choppy this week as forecast rains materialised in key production origins in the US, Russia and Brazil. A ‘winter’ storm has lashed parts of the key US HRW areas of Kansas and Oklahoma dropping between 5-6” of wet snow on previously very dry soils. This is expected to […]
Processor and Feeder steers lift strongly, AUD falls.
The EYCI just keeps on hitting new records, and fortunately, the AUD is falling to provide support to our export markets, though the 90CL frozen cow price continues to weaken. Processor steers and feeder steers have also broken out of their ponderously glacial pattern of movement and put on the first decent one-week gains in […]
All wet roads lead to home
Well, not quite all, but there were plenty of lambs locked up in the paddock last week on account of the rain. More wet weather and a falling market aren’t enticing reasons to fill up trucks and send lambs to the yards. This was reflected in the supply figures and it was enough for the […]
Fragility of the market exposed
The rally ended this week as the softer tone towards the end of last week translated to a full-scale retreat from the beginning of sales this week. While the end of last week trend was an indicator of what was to come, a significant jump in the offering was the final straw. To balance the […]
