Merino wool market produces an up-lift
Keen competition for Merino fleece underpinned an 11¢ rise in the EMI to 1,139 ¢/kg clean this week. This encouraged sellers and resulted in good clearance with low pass-in rates across the auction centres. There was solid support for this week’s designated Superfine sale in Sydney, which produced solid price rises across the MPG range […]
Wheat punches on
Wheat has risen off the canvas, taken a standing eight and launched into a counter-punch. Having touched 540c/bu a couple of weeks ago, the CBOT Dec ’23 contract has pushed back above 590c/bu. It is a sight for sore eyes for those of us who have been shaking our heads at how far the price […]
Rising slaughter but no joy for price
Earlier this week on Mecardo we were bemoaning processing bottlenecks, and the impact it was having on demand at the livestock level. Things are improving however, with another lift in slaughter post the public holiday of the couple of weeks ago. After the lows of the public holiday week, cattle slaughter leapt higher last week. […]
New season lambs attract more energetic buying
Saleyard supply slipped back this week which forced buyers to increase their bids and sent the lamb market higher. Presentation of good quality new season lambs has also attracted competition and helped spur on the improvement. The Eastern States Trade Lamb Indicator (ESTLI) lifted to 497¢/kg cwt, which was a 40¢ gain on the week […]
