A rush to offload cattle this week has seen yardings surge and domestic cattle prices probe lower. Processors appear to be increasing their activity in response to domestic demand for red meat and offshore beef export prices lifted on supply chain concerns and consumer stockpiling....
Key PointsLast week the Australian dollar was the major discussion point. The dollar floated like a lead balloon to lows of 55¢, the lowest level since 2001. This meant that our local pricing and Swaps increased dramatically. As much as last weeks fall was impressive,...
Following last weeks drama, the wool market found support and when all is considered, performed well. The finer microns led the way with buyers keen to purchase in the wake of possible total auction room shutdowns in the future.Concern was noted in the AWEX report...
Key points An annual average National Heavy Steer price of 335¢/kg lwt during 2020 would suggest forecast National Feeder Steer price of around 385¢/kg lwt, provided grain prices continue to soften toward the 2020/21 harvest.A forecast of 345¢/kg lwt for Heavy Steers in 2021...
Early March saw an increase in throughput as sheep producers responded to record prices but in recent weeks levels have softened. No sign of processors looking to increase slaughter volumes though despite some anecdotal reports that supermarkets are keen to restock after a run on red...
The stellar run for the Eastern Young Cattle Indicator (EYCI) came to a halt this week, with increased yardings forcing the EYCI lower. What wasn’t taken into account, however, was the tanking Australian dollar seen late in the week, which should add support.As reported earlier in...
Key PointsThe markets have gone truly bananas. In a good way for growers but not necessarily for consumers. In the past week, Chicago wheat futures have risen to the highest level since 2012 (in A$ terms). This provides a great opportunity for farmers to start...
If last week in the midst of global turmoil the wool market caught a cold, this week it had “full-blown influenza”. Despite the Au$ free-falling, the wool market was hit hard with buyers reducing limits continuing the EMI downturn for the sixth consecutive day. From the...
Not a day goes by at the moment without a fresh picture on social media of empty supermarket shelves after a wave of panic buying. Despite record price levels for many categories of cattle saleyard throughput numbers remain fixed at the bottom end of the...
Oil is crashing, the stock market is crashing, the Aussie dollar is lower, there is a massive spend on stimulus, the whole country could go into lockdown, but what about sheepmeat? Well, people have to eat.The ‘people have to eat’ story is a good one,...