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December 2017

Last week we looked at some long term trends in lamb and sheep trading enterprises. We identified that lamb trading margins were more reliable, but merino wether trading had the potential to offer very good margins, or on the rare occasion, losses. Price seasonality has...

The Christmas spirit continued this week in wool sales with buyers bidding strongly from the Tuesday opening, before becoming slightly more subdued on Thursday. This resulted in strong week-on-week increases across the board, with the 32 MPG in Melbourne the only one to miss out. This...

We are just on the brink of silly season, where the majority of the western world will effectively stop. There will be skeleton staff in most organisations (including Mecardo), and there will likely be little new activity. In this week’s comment, we have a look...

The last full week of sheep and lamb sales has seen 2017 finish as it began.  Streaking higher.  This week saw the Eastern States Trade Lamb Indicator (ESTLI) post a six month high, in spite of a record yarding. There is an old saying in markets....

Christmas presents came early for wool sellers this week with a strong “across the board” result in all three selling centres. The strongest evidence of woolgrower satisfaction was the low pass-in rate of just 3.1% nationally. It was noted in AWEX reports that “buyer interest intensified”...

A tough week in the grain market as the scaleof the global crop continues to bite hard. In this article, we will look at some recent WA forecast releases which paint a bearish tone. Let’s start with the futures market. In figure 1, we can see...

In last weeks comment we mentioned that the rain could provide a short-term boost to lamb prices, and indeed it did. We surmised that the extra moisture could see a pullback in supply with processors fighting it out at the saleyard, although that didn’t appear...

While lamb and sheep prices have reacted to the rain in Victoria and New South Wales, the heavy falls didn’t make it to Northern NSW and Queensland. As a lot of cattle come out of this area at this time of year, national indicators were...

It will come as no surprise that retail lamb prices follow the saleyard and with lamb prices holding their ground into Spring this piece takes a look at what that may mean for the end consumer into the coming season. Figure 1 highlights the price pattern...