Lighter lambs dominate supply as prices decline
Supply crept higher this week to 392k head for lamb and sheep through to the yards, and prices retracted as harvest in the south and heat in the north impact the market. New season lamb numbers are still 7% lower YoY for the spring flush, retracting again this week (Figure 2). Quality and weight of […]
Restockers show support in the north
National cattle yardings jumped 13% week-on-week, unsurprisingly putting downward pressure on prices, but the market still showed a level of resilience considering the increase in throughput. Most categories dipped only between 3¢/kg and 9¢/kg, with restocker steers bucking the trend and closing the week stronger. The latest official Australian Bureau of Statistics slaughter figures released […]
Thanksgiving caps a flat week
Another ‘geopolitic’ type of week, with little fundamental news but lots of political intrigue to keep the market ticking over. News that the US President had issued a 28-point peace plan to finally end the dispute in Ukraine was met with wheat prices initially tumbling on optimism that an end was nigh. The fall stalled […]
Firmer west offsets eastern softness
The market steadied this week after recent gains, with the Eastern Market Indicator easing 10¢ to 1504¢/kg clean. Fremantle was the only centre to gain, with the Western Market Indicator lifting 4¢ to 1665¢. Supply rose to 39,161 bales offered and 35,404 sold, with the pass-in rate at 9.6%, still well below the high pass-ins […]