Post USDA blues
After the excitement of last week’s USDA report and the undeniably bullish enthusiasm it generated, this week has been a little more subdued. The past week has seen a fairly sharp correction with CBOT Dec ’21 giving up all its gains to be down 22ȼ/bu for the week In AUD terms however, the dip has […]
Cattle market treads water
The market for young cattle continues to show sustained strength as the Eastern Young Cattle Indicator holds its ground above the 1,000ȼ mark just below all-time record levels. Processor steer prices fell heavily however, possibly related to reduced domestic demand stemming from COVID lockdowns. The outlook for export beef, particularly to the US, remains bright, […]
Now that’s a bounce!
The lamb market had us fooled into believing we’d passed the winter price peak and were well and truly on the downward run towards spring. How wrong we were. This week prices rallied hard in NSW and Victoria, pushing the Eastern States Trade Lamb Indicator (ESTLI) just shy of a record. The ESTLI ended the […]
Clearance collapses as market continues weaker
Sales continued on from the negative opening post-winter recess, with exporters reporting that a lack of confidence was dampening their activity. Sellers responded to the falls of last week reducing the offering by 15,000 bales which no doubt assisted in limiting the damage this week. Across the week, the Eastern Market Indicator (EMI) gave up […]
