Swings in supply disrupt the balance
Supply pulled back significantly this week, likely in response to last week’s cheaper market. After the excitement of a rising market, it appears to be searching for its new level which should reveal in the weeks ahead. The Eastern States Trade Lamb Indicator (ESTLI) on Thursday is up 9¢ compared to the close of last […]
Wool market wavers on supply
Another large offering proved too much for the Merino market to handle without a loss this week. However, the market on balance remains higher than the average trading range of the December quarter. The Eastern Market Indicator (EMI) lost 17¢ over the week to settle at 1196¢. As noted by AWEX, the first day of […]
Straight to the moon
NASA may have decided to push back its moon mission this week, but this lamb market certainly has a rocket under it. Most indicators in the east have opened 2024 higher than the same time last year, driven by renewed processor demand, tighter supply, and plenty of rain. Since the middle of December, lamb prices and […]
Plenty to be gained for croppers in using urea
Amid the lower grain and oilseed prices this harvest, at least some inputs have also come off their extreme highs thanks to more stability in supply. When urea was expensive, we looked at the cost and benefit of applying it to crops. Now that it’s cheaper it’s worth checking on the tradeoff with the outlook […]
Eyes on the skies
The lamb market performance was varied this week, with a modest uptick in prices for some categories. New season lamb numbers are on the rise, and the increase in supply of restocker types was evident this week which added pressure. However, it’s the upcoming forecast that is of particular interest and could set the stage […]
Restockers revved up by rain
Rainclouds gather on the horizon, and the cattle market is mustering some hope for a shift in fortunes. Supply numbers ebb, slaughter rates rise, and the Eastern Young Cattle Indicator paints a tale of restocker activity improving. Many of the key saleyards noted a slight pullback in cattle supply this week. Preliminary reports indicate that […]
Wool supply heading higher
The largest national wool offering to the market since August allowed buyers to relax their bidding and resulted in prices dipping slightly. Shearing is well ahead of year-ago levels, and the extra supply is likely to test the market before Christmas arrives. The Eastern Market Indicator dropped 10¢ over the week to 1,129¢/kg, settling once […]
Cattle in a holding pattern
There were no changes of significance to sway the cattle market dynamics in either direction this week. Most of the country was clear of rain, many processors are backed up with supply and the turnoff numbers are creeping higher. However, it’s the long-range forecast that’s now a source of some relief. As we mentioned last […]
New season lambs attract more energetic buying
Saleyard supply slipped back this week which forced buyers to increase their bids and sent the lamb market higher. Presentation of good quality new season lambs has also attracted competition and helped spur on the improvement. The Eastern States Trade Lamb Indicator (ESTLI) lifted to 497¢/kg cwt, which was a 40¢ gain on the week […]
Feeders feel for lows
The feeder cattle market is riding a slippery slope, as high feed grain prices and strong cattle supply allow feeder buyers to test the lower limits. Some other markets are showing more stability now, with prices in balance with supply at least for the meantime. The Eastern Young Cattle Indicator held its own, slipping just […]
Nothing quite like an October rain
Rain was exactly what the market needed and despite the glaring El Nino signs, a front moving across the southeast delivered the good stuff. While the headwinds facing the market remain, we will welcome any price bounce with open arms. Figure 1 shows where the rain fell, and although it could be considered too much […]
Feedlots fail to fuel
Cattle numbers continue to rise in the north as dry weather sends stock out of the paddock. While temperatures are rising and no rain is on the short-term forecast, the BOM has given us a slither of hope in their long-range forecast. Up North, Feedlots remain in the driver’s seat and this week feeder cattle […]
