Wheat crashes and China dumps US corn
The bullish news is all unwinding, with a huge Russian grain crop expected and the weather improving in the US. Elsewhere China cancels a cargo of corn, causing cereal prices to fall, meanwhile, the EU is busy banning Ukrainian grain imports as local producers stage protests. It was a terrible week for wheat, with DEC-23 […]
An Autumn Fall
Processors were kept busy last week with the full work week, as East Coast lamb slaughter reached 377k head , the highest number since May 2019. In the short week that followed, the market has seen an overall dip in prices with mutton inching ahead but restocker lamb demand nosediving. The Eastern States Trade Lamb […]
Another strong clearance
While prices could be stronger, there is much to be said about the volumes that are flowing through the system. For April, in the 16.5 to 21.5 MPG range (where the bulk of merino wool sits), just 9,300 bales (or 9.3%) of the 100,000 bales offered were passed in. By contrast, in the 23 to […]
Is rosy US 90CL outlook grinding to a halt?
Both cattle supply and pricing softened across the country, with the EYCI hitting a new record low during the week. With ANZAC day this week causing some saleyards not to operate, and processors to skip a day; the minds of many turned away from the markets to honour our fallen veterans. The Eastern Young Cattle […]
