Withdrawals up as winter approaches
Wool markets opened to underwhelming demand across all centres as the trade approaches Winter and the end of the 2023/24 selling season. Although it is common for wool market volumes and prices to begin to decline, the drop was particularly steep for the finer end of the offering. This week’s AWI market report detailed a […]
44% drop in supply springs market into action
A short week, and closed saleyards on Thursday has culminated in some relief on the supply front as combined lamb and sheep yardings nationally dropped 44% week on week. The Eastern States Trade Lamb indicator (ESTLI) improved 39¢ to 673¢/kg cwt this week which was 6% higher week on week. The trade lamb price bounce […]
Exchange rate pain is wool markets gain
Sydney and Fremantle markets made up for lost time with big improvements across both the broad and merino fleece categories this week. The lower Aussie dollar spurned strong bidding, and sellers sensing they might be on the best wave of the set were keen to take advantage as the national pass-in rate reached a seasonal […]
All hands on deck clearing cattle
Young cattle prices have bounced back after the recent rain, improving 28ȼ to 626ȼ/kg cwt. While rain helps limit the flow of cattle at one end of the supply chain, at the other, plenty of beef is on deck and headed overseas. The story at Roma and Dubbo was big yardings and keen demand for […]
A good week before Good Friday
It was a good week before Good Friday as most indicators improved. With processors being very busy the last few weeks, the appetite for both heavy and light lambs appears resilient in a dearer market. Restocker lambs much like the rainfall in South-Eastern Australia was lower than hoped. At the time of publishing, Light lambs […]
The cattle market bungee jump
In the last 6 months, the cattle market has acted like a bungee jump. Big supply on the way down and big demand on the way back. With signs out of the US getting more positive by the week, many will be wondering why we are still on the way back down. The throughput to […]
Cheaper Tuesday halts market gains
The Sydney pass in rate for the week averaged 2.1% in an indication that buyer demand is strong at this level of supply and sellers are happy to part ways at the current market pricing. With the southern market enjoying the public holiday break,demand was strong in Sydney on Monday, with the broader categories achieving […]
$146 million worse off
Smaller volumes this week meant that the national offering total year-to-date is essentially on par with the same time last year. As per AWEX reports, the value of wool sold at auction this year to date is now $146 million less than last year which highlights the impact of the decline in fine wool premiums […]
Wool market catches its breath
Prices at the finer end easing and broader categories firmer was a characteristic of both the Sydney and Melbourne markets this week, as has been the case (for the most part) this season. With all micron categories declining recently, it becomes easy to lose sight of the underling trends driving the market and become fixated […]
The Endless (Supply) Summer
Despite another drop in throughput, the lamb and sheep market this week was showing signs of supply fatigue in what has been a red-hot start to the year. On the East Coast, combined lamb and sheep yardings for the calendar year to date have already exceeded 2 million head which is significantly higher than the […]
Feeder Frenzy
Strong Queensland cattle supply hasn’t dented the market as the uplift in confidence continues. Whilst we are seeing a “Feeder Frenzy” at the yards, Processors have followed suit as YTD East Coast slaughter has grown 10% Year on Year so far in 2024. After weather interruptions last week, the saleyards in Queensland were chock full […]
Foot off the gas?
Auction volumes to begin the calendar year have been elevated but market activity on both sides looks to be easing as we approach a period of seasonal supply and demand growth. Just 8,431 bales were offered in the Northern market this week which contributed to the relatively low 7% pass-in rate. Bidding held firmer at […]
