Supply surge hits cattle markets
May marks the month when supply traditionally peaks for the winter, and true price direction is revealed after the disruption of April’s holidays. The result has been the biggest weekly surge of supply seen since November 2020, and young cattle prices have dipped accordingly. The Eastern Young Cattle Indicator (EYCI) buckled under pressure, shedding 24¢ […]
The art of diplomacy
It has been a theme on high rotation. The one where market analysts say the market can’t go down forever. The one where analysts point to the huge, short/sold position in wheat and shake their collective heads at the quirks of the market. As the unhealthy size of the short position became unwieldy, all it […]
Tale of two supply streams
Right now, the lamb market is heading in a few different directions. On one hand trade lambs are abundant which is dragging the price down. Store lambs and mutton are also plentiful, and demand is uninspiring. But on the other, heavy lambs supply is tighter and holding prices steady. The Eastern States Trade Lamb Indicator […]
Vegetable matter matters
A smaller offering with a reduced percentage of low vegetable matter (VM) wool has pushed the Eastern Market Indicator upward this week. Further price support was found from gun-shy Western sellers and Eastern market buyers scrambling for low VM. The Eastern Market Indicator (EMI) ended the week at 1310ȼ/kg, up a modest 8 ȼ ( […]
