Mutton price bounces despite processor shutdowns
The lamb & sheep market bounced back strongly this week after a series of depressing weeks marred by high supply. The upbeat mood this week was driven by stiff competition for a greatly reduced offering. Most key indicators booked solid price increases, with the ESTLI recovering 4.2% for the week, and the NMI up 6.2%. […]
Tanking commodity prices doesn’t help
Supply overwhelmed the first week of the new selling season as a big offering of wool for sale was met with a softer market. The cheaper Australian dollar wasn’t enough to overlook the concern with commodity prices tanking around the globe. The Eastern Market Indicator dropped 23¢ or 1.6% over the week, settling at 1407¢/kg. […]
Caution in the market
There were some mixed results in the cattle markets this week but overall the sentiment was one of caution amongst buyers, who are, as commented by AuctionsPlus last week, becoming (if they weren’t already), “increasingly aware of expenses and rising costs.” While the seasonal conditions are still good for most cattle producing areas, it seems […]
How to catch a falling knife
The ag commodity complex has gone through a remarkable correction. The value of most commodities in that basket are now at, or lower than, pre-war values when we saw a huge pile on of technical positions. The correction has been triggered by the event of new crop supply, but this on its own hasn’t been […]
