Sheep and lamb markets are past the Easter break, but we’ll have to wait until next week to see how supply came through. The two Easter impacted weeks saw very low slaughter, and it will have picked up this week, with prices seemingly maintaining historically...
Key points: After a few discussions this week with producers excited about the latest BOM rainfall forecast I thought it prudent to issue a bit of a cautionary note. As outlined in my comment last fortnight US beef markets are in a free fall and keen...
Key Points The extraordinary times continue with crude oil crash into negative territory. In this update, we look at wheat futures (overseas and locally) and a brief discussion on negative crude oil. Wheat futures rose at the start of the week, as concerns mounted of dryness in...
It is now becoming clearer how the COVID-19 virus is impacting on the wool market. Bale clearance at auction is down with mills either not operating or at reduced capacity, finance of the wool pipeline more difficult, and retail demand uncertain or in lockdown impacting...
Key points: Since the start of the year, US Live Cattle futures have declined by 30% to trade below 200US¢/kg on a live weight basis this week. The spread discount between Australian Heavy Steer prices and US Live Cattle futures has narrowed from a 28%...
Easter usually leads to plenty of variation in saleyard indicators. With some sales not running due to the break and processors closing for some extra days, it is hard to get a handle on pricing. This week we saw some falls for slaughter cattle, but...
Originally this week was scheduled as the Easter recess, however, a decision was made to provide an additional selling opportunity for growers on the back of the malware attack earlier. After brokers encouraged clients only to offer if they were genuine sellers, 15.5% of the...
Lamb and sheep yarding and slaughter volumes entered into their Easter lull but the reduced supply was unable to provide support to prices. All MLA reported CV19 lamb and sheep indicators softened slightly, with the processor lamb category recording the biggest drop. A reduced trading week...
Key Points A month is a long time in markets. A lot can happen, and opportunities can be lost or gained if you wait a month before making a decision. In this weekly update, we take a look at what has happened over the past month. As...
Key Points The USDA released their April world supply and demand estimates report overnight. Although a bearish report, the market largely ignored the data and moved higher. The USDA report was bearish, and normally that would have led to a fall in pricing however we live in...