A very un-USDA-like report
The much anticipated USDA supply and demand (WASDE) report did not fail to disappoint. Most in the trade were expecting the USDA to publish fairly conservative numbers – adopting a moderate approach to whittling down their estimates. I think it fair to say no-one expected the razor job they performed on the wheat market. For […]
Market opens with falls across the board
The final sale before the three-week recess had an air of confidence with over 42,000 bales sold into a market that was fairly solid. The opening sale post the winter break was anything but solid, large falls across all categories as well as big grower withdrawals and pass-in rates. Across the week, the Eastern Market […]
Supplies ramp up and prices do the opposite
New season sucker lambs are coming to the fore in NSW, and processors have also powered through the week. With the number of lambs yarded last week breaking a record for August, prices were bound to fall. The yardings figures show a lift in throughput in east coast yards of 17% to see 208,533 lambs […]
Heavy steers reach for the moon
The Eastern Young Cattle Indicator (EYCI) has continued on its recovery trajectory, cracking 1,000¢/kg again. Heavy steer prices also jumped an incredible 9% in the past week, reaching a new all-time record. This lent solid fundamental support to the current high valuations of young cattle, lets hope those prices can hold well down the track […]
