Lower numbers stop the drop
After the heat has taken some of the shine off cattle indicators in the last few weeks, a 21% week-on-week drop in supply has halted downward pricing momentum this week. The wet spring that was forecast on the East Coast hasn’t really eventuated. Elevated stocking rates in the North, and patient restockers in the south […]
Soft sentiment and high supply test the market
The wool market softened again this week, with the Eastern Market Indicator falling 29¢ to finish at 1,427 ¢/kg clean. It was the third straight weekly decline following the strong rally through early spring, though the EMI remains 26 % or 296 ¢ higher year-on-year. A total of 29,404 bales were sold nationally, with 12.8 […]
NSW leads sheep and lamb demand
The sheep and lamb market showed some resilience this week as yardings backed off slightly but remained at their second-highest level since June. Merino lambs were the only major category to close lower, falling by close to 50¢/kg. NSW maintained a premium over national prices and showed the strongest demand. Nationally, 197,000 lambs were yarded […]
Trade tensions, sanctions and silence from the USDA
Without the usual run of USDA trade data to generate headlines, the wheat market has been rela-tively subdued this week. In the absence of meaningful fundamentals, politics has once again tak-en the wheel in driving market direction. Early in the week, attention was focused on renewed trade tension between the US and China. Following last […]