Weather gives way to Politics
It has felt like a relatively quiet week in global markets — not entirely surprising given the time of year, or perhaps because other headlines have been stealing the limelight. The Arctic blast that swept into the US over the weekend certainly lived up to expectations, delivering a powerful winter storm. Heavy snowfall blanketed much […]
Temperature heats up processor demand
A short week teamed with plenty of cancelled sales due to soaring temperatures across southern Australia meant sheep and lamb yardings fell significantly this week, and in fact were the lowest they’d been since last April, when we had a week with two public holidays. Most sheep and lamb categories responded positively to this, however […]
Buyers cool off as temperatures soar
Supply was looking for shade as temperatures skyrocketed and saleyards shut the gate. Despite the lull in numbers, buyers were similarly backing off. The heat was brutal, with maximum temperatures across NSW and Western Victoria approaching 45 to 50 degrees Celsius, severely impacting the level of throughput this week across the east coast. Indicative NLIS […]
Currency surge stalls market momentum
The market retracted this week, with the EMI dropping 24¢ to finish at 1,665 ¢/kg. Despite the sea of red ink across the guides, results remained largely in line with currency movements. Robust buyer demand comfortably absorbed the volume with 40,987 bales sold nationally and a passed-in rate of 6.0%. In the North, the indicator […]