What goes up, must come down.
There has been a car crash in the ag markets this week as the weather forecast for the US turned wetter for key Mid-West states. After weeks of building risk premium into wheat and the row crops, all three markets tumbled – hard. The forecast has been gaining confi-dence over the past couple of days. […]
EYCI stays strong & AUD drops
After reaching a new all-time high last Thursday, the Eastern Young Cattle Indicator ran out of steam momentarily early this week, before reverting back to 913ȼ/kg again. With the Aussie dollar losing ground against a strengthening US greenback, and the outlook on the season still very positive, not to mention strengthening US beef prices, slaughter […]
Rain backs a price boost
Lamb and sheep markets were broadly stronger this week. Noteworthy gains were made on store lambs and those at trade weights. Mutton managed to move higher again, remaining at around a 20% spread to the Eastern States Trade Lamb Indicator. Last week was another busy one for processors. East coast lamb slaughter was up 1% […]
Steady start becomes buy frenzy
It was a steady but solid start to the selling week, however this soon changed as buyers became animated, bidding strongly across all categories. This initial positive market was nothing on what happened on Thursday, AWEX reported a “forceful opening” that saw immediate lifts in the merino fleece types, with clearance rates above 99%. The […]
