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 […]
Black Sea supply eclipses all else
Wheat futures prices have once again dipped this week, as Black Sea supply eclipses growing concerns about Argentina and Canada’s harvest. However, the Canadian outlook is yielding more price improvements in the canola market. Supply estimates for wheat have undergone reductions in several major producing nations. The EU Commission, for instance, has downscaled its expectations […]
Mutton near decade lows
Rainfall across Victoria and into south-eastern NSW over the last week offered a slight reprieve from the falling lamb market but did nothing to stop mutton prices. In fact, the National Mutton Indicator has fallen to a level that we haven’t seen since early 2014. The Eastern States Trade Lamb Indicator (ESTLI) pushed slightly higher, […]
Competition ramping up on home soil
Yesterday’s headlines become today’s footnotes and as for the wheat market, the rally driven by news that Russia fired warning shots at a grain cargo vessel lost its steam and was replaced by reports of harvest progress & export flows. It appears that we are going to need to see a genuine interruption to supply […]
Setbacks in the south
It was a disappointing week on multiple fronts for our friends in Victoria. A cheaper market from the get-go set the tone for the week, with large price falls in the south. Not all the usual buyers have been active in the market and the slaughter numbers are reflecting reduced processor activity. The Eastern States […]
Sheep settle while the dollar drives ahead
Sellers returned to the market this week, cautiously observing the price improvements from the previous week. They encountered mixed price directions, albeit with relatively milder fluctuations compared to the volatile swings that have become commonplace. This moderation in price movements provided some respite for market participants. In the Eastern States, the Trade Lamb Indicator experienced […]
Slim saleyard pickings send prices higher
Tighter saleyard throughput was enough to see the lamb and sheep market finally lift. With store lamb prices at some of the lowest levels in a decade, it’s easy to see why producers are dissatisfied enough to stay away from selling. The Eastern States Trade Lamb Indicator (ESTLI) gained 32¢ or 6% this week to […]
Spirits dampened by another cheaper market
Rain may have kept some lambs away from the saleyard, but this week buying interest was weak for the quality and weights on offer. Additionally, the market was burdened by wintry lambs in the southern regions, resulting in price indicators hitting their lowest points since 2013/14. The Eastern States Trade Lamb Indicator (ESTLI) experienced another […]
Supply keeping price in tow
The upward price trend proved short-lived, with an influx of lambs and sheep supply resulting in a sizeable drop in prices this week. Demand couldn’t keep up with big flows of stock in NSW and in SA compared to recent weeks. The Eastern States Trade Lamb Indicator fell 5% over the week to end at […]
A royal raise for restockers
The finished lamb market experienced a slight decline this week, however, the restocker market showed signs of improvement. The recent rain seems to have provided a small boost in the outlook. That and producers have been willing to hold back from the market at the lows of pricing we’ve seen recently. The Eastern States Trade […]
A ewe-turn in fortune?
It was no surprise that saleyard throughput would scale back, given the dissatisfactory price levels for sellers and the rain that fell across the country this week. A welcome pricing bounce has materialized across all categories, propelling most price indicators toward levels reminiscent of the end of May. In NSW and Victoria, trade lamb prices […]
