Heavier lambs throwing around their weight

Finished lamb values continue to push on an upward trend while store lambs lost some ground this week. Trade and heavy weight lamb numbers flowing into yards are thinning and there is concern about how many will remain for purchase in the later months of winter. The Eastern Trade Lamb Indicator (ESTLI) gained 30¢ over […]

Slaughter just keeps climbing

Cattle mob in a green paddock

This week there were a couple of ups and downs in price across cattle types as the market continues to operate in a more stable manner. Saleyard throughput was up week on week, with clear skies squeezing more cattle onto the market. However, competition remains steady with strong support from the export market. The Eastern […]

Minor movements paint picture of a mixed market

A slightly higher offering drove a slightly weaker price outcome for the wool market this week. However, more positive price movements did emerge later on Wednesday in the Merino fleece and Crossbred sectors. The Eastern Market Indicator lost 5¢/kg in AUD terms which is 84¢ or 7% lower year on year. A rebounding dollar meant […]

From Russia, with love again

Wheat crop blowing in the wind

Make no mistake. This wheat market is all about Russia. The month of May (to date) has seen CBOT rally 17% or nearly 90USc/bu as first dryness in the Russian south (Caucuses) region and then a series of frosts through the Central regions, took a bite out production forecasts. It has wiped about 8mmt off […]

Spinning the yarn on Alpaca prices

Given 2024 has been designated as the year of the camelids by the United Nations and a year has passed since the last article it seems a good time to check how alpaca prices have been going. Mecardo last looked at alpaca prices in May 2023. A good primer on the alpaca supply chain is […]

Summer rains impact cattle slaughter

The quarterly Australian Bureau of Statistics (ABS) Livestock Products report was released last week. Livestock Products is where we get our official slaughter numbers for the quarter, and despite the quarter finishing six weeks ago, it’s worth a look. March is traditionally the weakest slaughter quarter of the year, with a slow start and public […]

Another year, another increase in oilseed production.

The world is seemingly producing more oilseeds every year. At least for the last six years, the upward trend in oilseed production has been in place, and the United States Department of Agriculture are forecasting yet another record in 2024-25. The year on year changes in wheat and corn world production were relatively small, at […]

A party mix of results for lamb and sheep

There were mixed results for the indicators this selling week as the season slows down. Mutton cleared the 300c/kg hurdle for the first time since February and restockers also had a price jump. Competition according to saleyard reports wasn’t as fierce as it has been, with buyers happy to sit back and not drive up […]

Jack tours Russia

To start the week, the wheat market got a very nice little push courtesy of Russian frosts, a bullish USDA report and technical short covering. As covered in this week’s analysis, the USDA released their May WASDE report (read more here). In summary, 2024/25 wheat and corn stocks fell well below previous estimates while soybeans […]

Lean supply fuels competition despite a rising dollar

The wool market rebounded in US dollar terms this week, coming off a two-week lull where it sat at the lower end of the recent trading range. A year ago, the AUD hovered at similar levels to where it is now, yet wool prices are roughly 10% lower. The Eastern Market Indicator (EMI) picked up […]

Someone let the bulls out

Northern bos indicus cattle in yard

It could’ve been a post Beef Week high, or an adjustment in demand but this week’s market exuded a higher level of confidence. Sellers were met with a stronger market, despite a lift in cattle throughput. The Eastern Young Cattle Indicator (EYCI) rose by 20¢ over the week, settling at 625¢/kg cwt. The improving prices […]

Reassessing a ‘good’ price for mutton

Last week Mecardo looked at the mutton market, and how it related to the levels of last year. This week we take a deeper dive into pricing and long-term supply, and how we might have to reassess what is a ‘good’ mutton price. The anecdotal evidence suggests that mutton isn’t hard to move for exporters, […]