Extreme rain to dampen market next week
Prices for young cattle were overall subdued this week, as the influx of pent-up demand carried over from the holiday period dissipated. However, there are signs that the outlook for heavy cattle is strengthening, supported by a post-holiday recovery in slaughter. East coast cattle slaughter last week made up for lost ground caused by the […]
Wool woes continue
The Australian wool market has suffered 12 weeks in a row without lifting. There was a late big withdrawal of wool on offer this week, but buyers were still not overly excited, with nearly all indicators falling. The Eastern Market Indicator (EMI) fell 20ȼ this week, down to 1235ȼ/kg and with the Aussie dollar rising […]
When it rains, price roars
Another wet week has seen further improvement in lamb and sheep markets. Merino lambs had the biggest move higher, followed by trade lambs with reports of many buyers active interstate at saleyards. The Eastern States Trade Lamb Indicator lifted 30¢ on the week to finish at 767¢/kg cwt. The ESTLI is currently 1% or 7¢ […]
Slow US demand puts the brakes on wheat
After briefly flirting with $9/bu, wheat has again come under pressure to finish the week. Slow US exports and an uncertain economic outlook has managed to reclaim most of the gains seen after the USDA cut US ending stocks below what the market was expecting and continued Black Sea insecurity. Highlighting the lack of competitiveness, […]
