Stop the roller coaster – I want to get off
The slump in wheat prices over the past two weeks has been something out of the box. Since the resumption of the Black Sea Grain Initiative, the technical traders have significantly increased their bearish bets by increasing their short (sold) positions in wheat. The news of unimpeded Russian exports and a monster Australian crop has […]
How to stop a falling market
A week of tighter lamb and sheep throughput put an end to the tanking prices. All categories managed to improve week on week, as competition returned for what was on offer. The Eastern States Trade Lamb Indicator (ESTLI) decline came to a stop, bouncing 11¢ this week to end at the 700¢/kg cwt mark. The […]
Cattle market stabilises
A combination of soft prices discouraging sellers, and a typical seasonal pattern of lower supply reduced the number of cattle on offer this week, leading to prices in the market stabilising somewhat. A spark of optimism emerged though a slightly higher restocker price this week; indicating some bargain hunting might have been happening by those […]
China Covid announcement lifts market
The importance of China to the Australian wool market was dramatically reinforced this week, with an announcement by the Chinese government that the hard-line approach to CV 19 would be modified. This caused mills to quickly increase orders via their exporters to secure supply for an expected ramping up of mill activity as a result […]
