Nothing quite like an October rain
Rain was exactly what the market needed and despite the glaring El Nino signs, a front moving across the southeast delivered the good stuff. While the headwinds facing the market remain, we will welcome any price bounce with open arms. Figure 1 shows where the rain fell, and although it could be considered too much […]
Quiet before the storm?
Welcome rain in some parts of the East Coast might cause some southern producers to roll the dice on holding onto stock. With yarding numbers down this week, producers evidently were willing to wait and see how the weather unfolded, causing mixed results in pricing. After some solid rainfall in the southern regions of the […]
Rumours, rain and bargain buying
The hits keep coming for the wheat market. Last weekend, the wheat market fell to fresh 3-year lows after the USDA released data showing the US spring wheat production was larger than expected (up 2.1mmt year on year). The increase in production probably didn’t justify the 30c/bushel move lower, just shows that the managed money […]
Crossbred types show the way
Small gains were at best the only moves in the Merino section this week. However, it was again the crossbred section that sustained its recent positive run and lifted the EMI to 1,138 ¢/kg , a 3¢ improvement. Medium and broader Merino fleece MPGs were favoured at the expense of finer MPGs across the country […]
