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...
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...
May you live in interesting times. A phrase which absolutely applies to 2020. As well as Coronavirus, we are also an ‘oil war’ between OPEC nations. This has resulted in big moves in the oil industry.The oil market was falling in recent weeks due to...
There has been a run on toilet roll in Australia, however, we will likely have plenty of cereal. In this update, we step away from COVID-19 and look at some of the fundamentals driving the market. The December 2020 Chicago wheat contract has dropped 6% in...
Increased cattle yarding across the eastern seaboard hasn’t slowed demand for young cattle this week but concern over export markets and the prospect of tighter margins appears to be slowing meat works appetite for finished cattle. Figure 1 highlights the trend in weekly east coast cattle...
The market has become increasingly worried about the impact of a potential global pandemic of Covid-19. This has resulted in a risk off attitude to commodities. In this update, we take a look at the CBOT market and ASX. Until recently, Covid-19/Coronavirus was largely limited to...
In this grain market comment, we provide a short summary of Russian wheat pricing, ASX levels and fertiliser/chemical blockages in China. In yesterday’s analysis article ‘It’s relatively relevant’, we briefly discussed the rapid rise in wheat futures this week. This has had a limited impact...
Cattle supply is expected to wane, and prices are already on the rise. It is still worth having a look at how the tighter cattle supply is likely to play out on a seasonal basis, and what this might mean for prices.Last week we took...
Concerns over the Coronavirus spread has softened beef export prices in recent weeks, but tight supply and favourable rainfall has limited the impact on cattle prices at a domestic level. Australian beef exports for January were healthy, but an inability to get Corona under control...
With inspiring rainfall dropping on large tracts of the eastern states, confidence is increased in the capability of producing a 2020 crop. If the potential continues to improve then exports will be important. Our biggest export competitor (Russia) is on track to produce a very...