Mutton crashes to earth again

Last week’s relative optimism about mutton prices was short-lived, with prices freefalling to levels seen a fortnight ago. Trade lamb prices held, however, restocker demand appears to be waning, with a big fall in the index being recorded. An increase in supply exacerbates the situation. Hopes were dashed on the sheep front with the National […]

Supply surging, market holding

Close up of two cattle in yards

Despite the extreme pressure of the highest weekly yardings of young cattle seen in the last seven months, and probably for years, prices have held remarkably well. The Eastern Young Cattle Indicator (EYCI) only backtracked a few cents while other indicators also displayed considerable resilience. A spike in 90CL prices also indicates that the US […]

Technical twists and turns

We saw a nice little bump in wheat futures to start this week. It is presumed that the expectation of a Russian spring offensive into Ukraine was enough to shake loose some of the short (sold) positions held by the fund managers. It is thought that 10-20k contracts were bought back which more than accounts […]

Wool volumes approaching high tide?

Bales of wool in shed

Buoyed by the recent market activity, a significant wool clip was put forward this week including a feature sale of Tasmanian wool. There was a lot for buyers to sift through and the result was a downturn in the Eastern Market Indicator (EMI) and an increase in pass-in rates nationwide. Despite this, the market still […]