Shear relief as wool turns bullish
The Australian wool market found its footing this week, with the Eastern Market Indicator (EMI) posting a solid 14-cent gain to close at 1,203 cents per kilogram. This marked the first meaningful recovery after four consecutive weeks of declines. With a pass-in rate of 8.9% and just 27,169 bales offered nationally, this week’s offering was […]
Competition heats up for heavies
Lower throughput and some positive rainfall forecasts pushed the sheep and lamb market in the right direction this week, with most sectors experiencing a significant rise. Increased buying support was reported at several yards, as both supermarket and export processors look to secure the lambs they need, at the weight they need, before they run […]
Will cattle stay or will they go?
The dry conditions in the south and lush conditions in the north currently look like providing balance to the seesaw of saleyard cattle supply and demand. The musical chairs of heavy turnoff cattle might be starting to ramp up, so how will processors pivot? Easing supply pressure and more northern rainfall have contributed to an […]
Wheat waves short squeezes and trade teases
As always, the wheat market is treading a fine line between supply-driven fundamentals and technical signals that drive the algorithms used by fund managers. This week, concerns over production in a few areas – namely Northern Europe and China – sparked a moderate clearing of some of the short (sold) positions held by the funds. […]