Dome of Death
Ever wondered what keeps grain analysts awake at night? Irrational markets. We have seen at least two examples this week, where the market reacted to news in completely the opposite way you would expect. Last night, the US reported weekly sales of roughly 1Mmt of wheat, including sales to China and South Korea. This is […]
Late surge in Melbourne, a plus before the annual recess
We’re at the annual recess for the 2021/22 season and despite some promising signs on the final day of sales in Melbourne, most indicators were down, including the EMI which fell for the 3rd straight week. The Eastern Market Indicator (EMI) lost 19ȼ to 1388ȼ/kg, down 3% on the same time last year. The Aussie […]
EYCI crumbles below 1000
The EYCI was smashed well below 1000¢/kg cwt this week, and there it stayed, weighted down by a surge in supply this week. The rest of the market also suffered substantial losses in another horror week with all categories firmly in the red zone. Slaughter statistics for week ending 8th July, 2022 were down 2% […]
Lamb prices swinging on supply
A few missing buyers left competition lacking for finished stock in many eastern saleyards this week. The store market has also gone a bit quiet which has depressed prices in most states after last weeks’ bounce but Merino lambs came into their own. The Eastern States Trade Lamb Indicator (ESTLI) ended this week 7¢ lower […]
