Chinese pig herd rebuild to impact global red meat demand
Official statements from China’s National Bureau of Statistics (NBS) last month are that the pig herd grew by 31% in 2020; and breeding sow numbers have surged 35%, putting the pig herd at 407 million head as of the end of 2020. However, 2020’s pork production was low, and pork prices are still high, so […]
Global lamb demand undeniable
Lamb exports are expected to power through the impacts of both drought and pandemic, thanks to the growing population and level of wealth of consumers in our biggest markets – primarily Asia. Meat and Livestock Australia’s Global Sheep Industry & Trade Report released this month forecasts global sheep consumption would grow at an average of […]
Regional Rainfall Update January 2021
Mecardo’s regional rainfall update for January 2021. Click here to view the latest update This report highlights: Current season’s monthly rainfall trend Last season’s monthly rainfall trend Average monthly trend over 50 years 70% range in monthly rainfall over last 50 years 95% range Rainfall within the 70% range would be considered reflective of a […]
High spot prices and lower futures
The usual shape of the forward curve in wheat markets is what they call contango. Contango is where future prices are higher than the spot market. The opposite of contango is backwardation, and this is where we are at currently. Grain prices are usually higher in the future. The obvious reason is that it costs […]
