Finished cattle firmer
The Eastern Young Cattle Indicator (EYCI) may have fallen slightly this week; but after several weeks of downward momentum, signs of support for finished cattle are emerging from the shadows. Slaughter is down, so, demand must be down? Not necessarily, a solid clip of meatworkers were having a well-earned BBQ and a beer at home. […]
Sideways markets a welcome situation
This week saw yet more price stability, with the typical dip in supply during the Australia day week of January helping to maintain support. The EYCI barely budged, however, the gradual downtrend in finished cattle prices seems to be continuing, with the holiday weekend not helping demand. Last week’s slaughter numbers were a lot more […]
Young cattle prices stabilise & heavies miss out.
As we settle into the marketing year, young cattle yardings have grown mostly in line with historical patterns, and with it, demand, leading to relative price stability this week, as the Eastern Young Cattle Indicator (EYCI) crept up slightly. However, finished cattle prices fell, indicating that buyers are now adjusting their view based on what […]
Has the sky fallen on steers?
The start of 2023 has been marred by a huge fall in the EYCI- it’s not supply driven, as numbers are similar to when the markets closed in December 2022. Demand for young cattle, and restocking seems to have taken a hit- the question is whether it’s transitory, as buyers remain in holiday mode (which […]
Supply pullback lends support- but will it last?
A further retraction of supply in the key states of QLD and NSW lent support to the market this week, with both the EYCI and restocker steer indicators rising in response to the tighter market. However, there is little sign that demand has improved, with buyers seemingly content to wait it out to see how […]
Indonesia increases biodiesel mandate to B35
Indonesia has announced plans to implement a 35% (B35) biodiesel fuel blend program as early as January 2023 in response to stubbornly high crude oil prices. This will increase domestic Indonesian palm oil demand, providing support for palm oil prices, and, in turn, other oilseeds in the vegetable oil complex, such as canola. According to […]
Beef export backslide?
Australian beef exports to key Asian markets such as South Korea, and China continue to display worrying signs of weaker trends, while the US imported beef market continues to suffer from economic uncertainty and strong domestic supply. On the brighter side, ongoing FMD issues in Indonesia may just have encouraged demand for imported Australian beef. […]
US dollar shortages weigh on Chickpea outlook
Australian desi chickpea prices, ex Gladstone have risen $144(26%) in the last month. What has caused this rise, and what is the outlook for the 2022/23 season? Gladstone Desi CHP1 prices are currently bid at $700/ton. (figure 1) Further south, in Brisbane however, prices are trading at around $600/ton. The reason for this apparent location […]
Cattle market stabilises
A combination of soft prices discouraging sellers, and a typical seasonal pattern of lower supply reduced the number of cattle on offer this week, leading to prices in the market stabilising somewhat. A spark of optimism emerged though a slightly higher restocker price this week; indicating some bargain hunting might have been happening by those […]
Quick Grain Price update
A quick & simple grain & oilseed price update, with no extras for this week. No bells & whistles, or small talk for this week. The numbers in the table to the right say it all- falls in prices right across the board, both domestically and on the international stage. Next week You can expect […]
Cattle market in freefall
Last week’s price falls may have put off some producers, as supply reduced, but not enough to counter the prevailing lacklustre sentiment of soft demand. The result was another week of steep price falls; with the cumulative impact over the last month really starting to add up East Coast slaughter for the week ending 25th […]
Ongoing Svitzer tug of war threatens grain exports
In mid November, Tug boat operator, Svitzer attempted to lock out their employees indefinitely, leaving Aussie ports crippled, with export and import activities frozen. It didn’t happen this time due to legal action, but the problem hasn’t gone away. The immediate threat of a port lockout crisis has ended, but medium term risks to producers […]
