Much ado about nothing (apologies to W Shakespeare)
The past week has seen the wheat market rally on Black Sea tension. It has been a slow burn, but the potential for conflict is now headline news. Politicians, media experts, newspapers are all trumpeting the potential for war. And this is likely feeding the fire – keeping a risk premium building into wheat (and […]
EYCI falls along with restockers
Last week the Eastern Young Cattle Indicator (EYCI) was nearing the $12 mark, but this week it’s closer to $11 – down 72¢ or 6% to 1119¢/kg cwt. With one less sale of day this week and as Meat & Livestock Australia (MLA) reported, ‘weaker QLD restocker demand’ took effect, the market softened for many […]
Small offering does the trick
Volatility at the saleyards has driven producers to hold their stock back in the paddock. This week the limited offering drove up the saleyard price for most categories of lamb and sheep. We looked into what’s happening with supply in yesterday’s analysis (view here) and found that sheep and lamb slaughter is tracking around 30% […]
Steady start then a strong finish
Initial concerns from buyers over the size of this week’s offering were evident in the steady market on the opening day, however these concerns were blown away on the final day as buyers competed strongly to fill new orders. The Eastern Market Indicator (EMI) improved 15ȼ for the week to close at 1,407ȼ. The Australian […]
