Volume light, demand tight, and a flat EMI
The Australian wool market stabilised this week, with the Eastern Market Indicator (EMI) down just 1 cent to 1,189 c/kg, despite currency swings impacting USD values. Offerings rose to 30,931 bales, with a pass-in rate of 8.9%. Season-to-date auction volumes total 1,410,070 bales, down 13.8% (226,420 bales) from last season, reflecting lower supply. Despite a […]
Northern needs support for restocker returns
The market was only headed in one direction this week, and that was down. Last week ended up being a record for yardings, so numbers did drop this week, but all indicators still lost ground. Rain still alludes many in the south, while the latest slaughter data showed Queensland figures down nearly 9000 head week-on-week, […]
Slaughter not slacking either
Supply eased this week after a frenetic fortnight of lamb and sheep liquidation. An 18% decrease in lamb throughput and keen interest for lambs coming off feed pushed lamb markets higher while mutton markets eased slightly despite 25% lower supply. In the last four weeks, Sheep slaughter has tracked below year-ago levels despite the big […]
Wheat bear is coming out of hibernation
The USDA poured cold water on the global wheat market this week as they increased global carryout by 5 mmt to 265 mmt due to reduced old crop demand. Stocks-to-use in the major exporters are now, based on these figures, at 17%, a slight increase from the previous year and bucking the recent trend of […]