Vast volume clears
The Australian wool market continued its decline for the 2nd consecutive week. The benchmark Eastern Market Indicator (EMI) declined by 8 cents to close at 1,184 cents, as the week started with a softer tone. Supply pressure did contribute to the slight easing in the market as the pass-in rate (8.2%) again surpassed the season […]
Higher quality brings higher prices
Lamb indicators grew week on week in value terms due to tightening supply. Quality and increased demand at the rail also contributed to the price rises, according to market reports. The Eastern State Trade Lamb Indicator rose 3% week on week in value, closing the week at 794¢/kg. Ballarat and Wagga made up 40% of […]
Weather market jitters
The start of the week saw CBOT wheat jump on possible freezing weather in the US Plains and Central Russia. The move higher was largely driven by speculators covering their short (sold) positions to cover against a major winter kill event. Top wheat producing state, Kansas, has already seen temperatures plummet to -25C, well below […]
Train back on the tracks as supply evens out
Cattle Supply is beginning to even out, and rain continues to fall on the east coast. The result has been a return to late 2024 form for cattle markets this week as the EYCI pushes upward again by 16¢ to 669¢/kg cwt. A dry summer and plentiful supply had contributed to an easing market on […]