Feeder Frenzy
Strong Queensland cattle supply hasn’t dented the market as the uplift in confidence continues. Whilst we are seeing a “Feeder Frenzy” at the yards, Processors have followed suit as YTD East Coast slaughter has grown 10% Year on Year so far in 2024. After weather interruptions last week, the saleyards in Queensland were chock full […]
Crossbred wools stand out of the flock
An increased offering of wool onto the market enabled buyers to be selective in their purchases. Merino fleece prices were mostly weaker, however, the crossbred segment resisted the trend and posted small improvements. The Eastern Market Indicator (EMI) slid 8¢ over the week to 1163¢. This is the fourth consecutive week that the EMI has […]
Another nail in the coffin?
Last night the USDA released their February WASDE report. The focus was mainly on South American production, which was cut, but nowhere near as much as the trade thought. Coupled with building US wheat stocks, the report was viewed as another bearish nail in the commodity coffin. Global ending stocks were trimmed slightly on improved […]
Has the music stopped?
All bar one of the indicators finished the week lower than the previous week, as the market continues to find its new normal following the rollercoaster of 2023. Yardings were down week on week by 9% and the previous week slaughter numbers were slightly higher for sheep and flat for lambs. Last weeks “biggest loser” […]
