Commodities yanked lower by USDA
The US wheat market started the week closed for the observance of the Martin Luther King Memorial public holiday. It is probably just as well that we had some a break between trading and last Friday’s USDA report being digested. The headline screamed ‘bullish wheat’ because the report stated that the US winter wheat area […]
Feeders enter the fray
Whilst a week-on-week increase in supply is not a surprise as the trade returns from the break, it’s clear that the resurgence of restocker demand has motivated auction participation by those offloading cattle. East Coast yardings this week per the NLRS were reported at 56,836 head, which is 46% higher than the 5-year average for […]
Mutton makes a move
Despite more rain falling this week across the nation, it wasn’t enough to continue the price rise for lamb. All lamb indicators took a fall this week, ending the price rally occurring since late last year. Mutton on the other hand continued to climb, a welcome relief after not experiencing the same degree of a […]
Wool market wavers on supply
Another large offering proved too much for the Merino market to handle without a loss this week. However, the market on balance remains higher than the average trading range of the December quarter. The Eastern Market Indicator (EMI) lost 17¢ over the week to settle at 1196¢. As noted by AWEX, the first day of […]
