WASDE, La Niná and an Elephant

Harvesting a wheat field

Last night the USDA released their December WASDE (World Agricultural S&D Estimates) report. In short, there was little for the wheat bulls to get excited about with increasing pro-duction and ending stocks dragging down prices. The market had been largely expecting the increase in stocks, with the USDA lifting Aussie production to match ABARES estimate […]

Solid week, that’s four in a row

Wool bales

The Australian wool market recorded its fourth consecutive increase, with AWEX reporting that all categories either posted a rise or at the least, were unchanged. The finer merino types along with the crossbred offering were the strongest performers. The Eastern Market Indicator (EMI) gained a further 14ȼ for the week to close at 1,360ȼ. Across […]

EYCI keeps on climbing up

Northern cattle and calf

Well here we are again, just when we thought the Eastern Young Cattle Indicator couldn’t go any higher, it’s jumped up by a 40 cents or 3.6% on last week, to a new record high of 1147¢/kg cwt. The EYCI is remarkably 45% higher than the same time last year. Taking a look at the […]

Market soaks up southern supply

Despite the extra supply of lamb and sheep, the market held its own and prices were slightly firmer across most categories. Lamb supply is tracking below last years levels due to the slow season, but it’s usually mid-December when numbers reach their peak. East coast lamb yardings lifted 4% last week to see over 240,000 […]