Light lambs higher again
Return to a normal sale week but the rainfall and economic conditions have changed. Light lambs continue to track higher to both processors and restockers. It was a mixed week for saleyard indicators. The National Mutton Indicator (NMI) dropped 11¢ to 792¢/kg cwt despite flat supply. Lamb indicators all averaged single digit gains or losses […]
Markets are now pricing in higher energy costs?
I’ve spoken before about the role of speculators and managed money in agricultural markets. Realistically, something like 96% of participants in CBOT—or any other trading venue for that matter—couldn’t tell a wheat plant from a power plant. One of the key factors that had been capping prices and limiting rallies was the large net short […]
Prices correct with another strong offering
After a strong run, this week saw some correction in pricing across all sale centres, sending the EMI down 32¢ to 1751¢. For the second week in a row the offering was above 42,000. Strong supply and uncertain economic conditions impacted buyer sentiment this week which saw pass in rates reach 13.5%. Local market indicators […]
NSW cattle still streaming to market
More rain falling across the country this week didn’t slow the flow of cattle turnoff, with the biggest yarding this year putting the brakes on the rise of the cattle market as all categories closed lower. All major national indicators recorded higher throughput and lower prices, as the sales which were cancelled due to the […]