Last week we updated the forecast model for annual young cattle prices to 2022 and this week it is the sheep producers turn to get an insight as to what the Mecardo model for the Eastern States Trade Lamb Indicator (ESTLI) and National Mutton Indicator...
The Eastern States Trade Lamb Indicator (ESTLI) continues to hold above the 800¢ level as the Victorian flush shows no sign of getting underway yet. However, a jump in sheep yardings in recent weeks has seen the National Mutton Indicator (NMI) take a bit of...
The WASDE report was released overnight by the US Dept of Agriculture and it points to a continued global glut of wheat. Current conditions in Australia mean that what happens overseas will have little downward pressure on local pricing. December CBOT wheat futures have risen A$10...
The August drop in greasy wool prices was substantial, with drought conditions increasing the sensitivity of farmers to lower wool prices at a time of high feed costs and high sheepmeat prices. This article takes a look at the average Merino micron price during the...
The wool market had a small reprieve from the exhaustive losses that began in June. We did see a similar pause a fortnight ago, although reports from the auction floor suggest that this time around it might be the point of recovery as glimpses of...
Increasing cattle slaughter and yarding levels heading into early spring have seen cattle prices continue to soften this week for most categories. Further weighing on the general sentiment was the updated three-month rainfall outlook from the Bureau of Meteorology which points to a long dry...
The Northern hemisphere is largely complete, with little in the way of uncertainty to move the markets. The focus is now on what happens locally. The risk is definitely back on the table in Australia. In the past week, Chicago wheat futures have declined by A$7....
The main ovine indicators have found some sort of support in the last fortnight, with the Eastern States Trade Lamb Indicator (ESTLI) spending a second week just above 800¢. Mutton has maintained its position in the 99th percentile.Figure 1 shows the ESTLI remaining steady this...
The new key support level of 800¢ has held this week for the Eastern States Trade Lamb Indicator (ESTLI). Prices steadied in all states, but it was the sucker lambs coming out of NSW which were priced the best. After dropping like a stone for...
There was no sign of confidence in the wool market this week. Rostered bales were withdrawn left right and centre and much of those that made the sale were passed in. With another week of US-China tariff announcements and severe price declines, uncertainty is at...