Volume light, demand tight, and a flat EMI
The Australian wool market stabilised this week, with the Eastern Market Indicator (EMI) down just 1 cent to 1,189 c/kg, despite currency swings impacting USD values. Offerings rose to 30,931 bales, with a pass-in rate of 8.9%. Season-to-date auction volumes total 1,410,070 bales, down 13.8% (226,420 bales) from last season, reflecting lower supply. Despite a […]
Northern needs support for restocker returns
The market was only headed in one direction this week, and that was down. Last week ended up being a record for yardings, so numbers did drop this week, but all indicators still lost ground. Rain still alludes many in the south, while the latest slaughter data showed Queensland figures down nearly 9000 head week-on-week, […]
Slaughter not slacking either
Supply eased this week after a frenetic fortnight of lamb and sheep liquidation. An 18% decrease in lamb throughput and keen interest for lambs coming off feed pushed lamb markets higher while mutton markets eased slightly despite 25% lower supply. In the last four weeks, Sheep slaughter has tracked below year-ago levels despite the big […]
Wheat bear is coming out of hibernation
The USDA poured cold water on the global wheat market this week as they increased global carryout by 5 mmt to 265 mmt due to reduced old crop demand. Stocks-to-use in the major exporters are now, based on these figures, at 17%, a slight increase from the previous year and bucking the recent trend of […]
Volumes ain’t volumes
Weekly auction volumes of wool offered are often bandied around as a measure of whether supply is set to outstrip or fall short of demand, with the implication that prices will fall or rise as a consequence. This article takes a brief look at weekly sales volumes from a couple of perspectives. AWEX (see more […]
Record Crops, Tight Stocks
The new season United States Department of Agriculture (USDA) World Agricultural Supply and Demand Estimates (WASDE) report has dropped overnight. The May report is the most anticipated as it gives a first look at the 2025-26 production and consumption, which can obviously move markets. The headline numbers from the WASDE are for record production levels […]
Dry May, but there is cause for optimism.
There are a myriad of weather forecasts out there, and most farmers will know you can usually find one with some rain on it. At the moment, you can’t find a forecast for rain in the next fortnight for much of South Australia, Victoria, and Southern NSW. As such, producers are biting the bullet. Winter […]
Wheat walking a fine line
The wheat market is caught in a tug of war between two opposing forces. On one hand, the building supply numbers as good in-crop rains boost crop potential. On the other hand, there is a potential increase in demand as a key importers feels the pinch. Last week, we showed a map of Chinese key […]
Sheep running not walking to the yards
The mutton miracle we’ve seen over the last month brought forward a significant jump in numbers this week, taking some of the heat out of the market. The saleyards were inundated with sheep this week, with producers looking to cash in on the miraculous mutton prices seen in April. Mutton supply was 21% higher week […]
Market loses ground as autumn break still missing
The week started with a record number of cattle yarded at Wagga Wagga, with 8731 put through the ring on Monday. This followed on from the third-largest AuctionsPlus cattle offering on record last Friday, and the Wagga yards are again full today with store cattle going under the hammer. So, it comes as little surprise […]
Wool dips as quality slips
The Australian wool market softened this week as a firmer Australian dollar and a sharp decline in wool quality weighed on buyer sentiment. The Eastern Market Indicator (EMI) fell 19¢ to 1,191¢/kg, with all three selling centres recording losses. The national pass-in rate rose to 14.2%, despite a reduced offering of just 28,508 bales—the second […]
Where is lamb and mutton heading over winter?
Lamb and mutton markets have been on the move lately, with mutton finally returning to what could be considered a ‘normal’ discount to lamb. We’re not yet in winter, and May is usually a time of price pressure, which begs the question: where are we headed in winter, and what will be the starting point […]
