A party mix of results for lamb and sheep
There were mixed results for the indicators this selling week as the season slows down. Mutton cleared the 300c/kg hurdle for the first time since February and restockers also had a price jump. Competition according to saleyard reports wasn’t as fierce as it has been, with buyers happy to sit back and not drive up […]
Jack tours Russia
To start the week, the wheat market got a very nice little push courtesy of Russian frosts, a bullish USDA report and technical short covering. As covered in this week’s analysis, the USDA released their May WASDE report (read more here). In summary, 2024/25 wheat and corn stocks fell well below previous estimates while soybeans […]
Lean supply fuels competition despite a rising dollar
The wool market rebounded in US dollar terms this week, coming off a two-week lull where it sat at the lower end of the recent trading range. A year ago, the AUD hovered at similar levels to where it is now, yet wool prices are roughly 10% lower. The Eastern Market Indicator (EMI) picked up […]
Someone let the bulls out
It could’ve been a post Beef Week high, or an adjustment in demand but this week’s market exuded a higher level of confidence. Sellers were met with a stronger market, despite a lift in cattle throughput. The Eastern Young Cattle Indicator (EYCI) rose by 20¢ over the week, settling at 625¢/kg cwt. The improving prices […]