It’s all in the numbers
The real surprise from this week’s market didn’t come from the usual reports of price or supply but the ABS release of the 2023 cattle herd estimates at 29.9 million head. The new methodology employed by the ABS has found an additional ~4 million head to the cattle herd. While unexpected, this news shouldn’t impact […]
Supply surge
Week-on-week yardings for the indicators surged with all saleyards in operation following last week’s long weekend. Prices fell across the board, off the back of stronger supply. The Eastern States Trade Lamb Indicator (ESTLI) fell slightly by 1% (9 c/kg) to finish the week at 734 c/kg. Yardings were up 21% to 33.1k head which […]
Small offering, small interest
As the 2023/24 season approaches the finish line, the recent momentum of pricing has fallen short as the majority of fine and medium micron price categories finished the week lower despite easing supply. The Eastern Market Indicator (EMI) lost 10¢ this week, to 1160¢/kg in a quiet sales week resulting in the 2nd lowest number […]
Slippery slide for wheat
It is a ‘cut and paste’ type of report this week. The wheat market continues to be dragged lower by abundant old crop supplies and the glut of new crop coming in the pipeline. The market has effectively given back all of the gains made when Russian production was being cut. As the weather moderated and […]
