Winter supplies yet to decline

It is in July when cattle slaughter historically starts to trend lower. With cattle being hard to finish on grass in the winter in the south, we usually see fewer cattle coming through the system. With cattle slaughter currently remaining very strong, prices aren’t going through their normal winter rally. Figure 1 shows East Coast […]
Are wheat prices too low for stocks?

Our look at the World Agricultural Supply and Demand Estimates (WASDE) report last week showed that despite close-to-record wheat production, the stocks-to-use ratio remained close to 10-year lows. We had a query as to why wheat prices were weak when supply was seemingly tight. Figure 1 shows the closing stocks-to-use ratio for global wheat, as […]
Sheep producers positive but keen to offload ewes.

Meat and Livestock Australia have released the latest Sheep Producers Intentions Survey Results with data collected throughout May. The May iterations of this survey now focus primarily on ewe flock and producer sentiment, rather than giving an insight into lamb numbers and potential sales, which we see in the October version. This survey shows the […]
Merino price in US and Aussie dollar terms

Wool prices, like the apparel fibre complex generally, are working their way through a period of low prices. There are a few bright spots in the apparel complex such as the linen price, driven higher by low flax supplies, and the very fine merino micron categories. This article looks at merino prices in Australian and […]