Corn feeding the bulls
Over the past week, the wheat market welcomed a rally of 64US¢/bu on the back of some bargain buying but also a deteriorating corn production outlook. While the market conditions haven’t changed, last night saw some technical profit taking as investment sentiment soured. The Profarmer Crop Tour (for those on Twitter #pftour22) has been cutting […]
Sudden crash landing a quality concern
It was a horror week on the sheep & lamb markets, with the key indicators the ESTLI and NMI booking big falls, and all other indexes followed suit. The worrying issue here is that there are indications that this was demand driven, not supply driven. Commentary across some key markets about the general poor condition […]
True market recovery in sight
Prices advanced this week, but the exciting point of difference is that volumes in the yards have returned also, pointing towards underlying strength in demand to back it up this time. A lot of confidence seems to have returned to the markets compared to a month ago, probably fuelled by a return to La Niña […]
North balances out south
A much smaller offering due to no sales in the west saw strong buyer support across most indicators. There were some significant falls for the 17-18.5 MPG’s in Melbourne, but lifts in their Sydney counterparts saw the EMI stay put for a second week in a row. The EMI is at 1342ȼ/kg for the third […]
