Earlier in the week we looked at the growing numbers of cattle on feed and surmised it was likely due to dry weather forcing cattle into feedlots. In this article, we take our semi-regular look at lotfeeder margins, and it’s not suggesting a lot of upside for feeder cattle values, especially in the south.
The Hay game has changed so much. At the starting point of the "frenzy" back at the end of January, there was ten parcels of Hay for every producer looking to buy, today it would be ten producers fighting it out for a single parcel, that's how it's changed.
The wheat rollercoaster continues to run its course. In the past month we have witnessed a large degree of volatility. In this article, we look at wheat from a seasonal point of view to determine the position of the market.
Last week Mecardo published an article on the subjective shorthand labels for micron categories (“fine, medium and broad”) in relation to potential confusion when hedging. A reader from Uruguay has raised a related issue about the range of different subjective labels applied to merino micron categories and the potential for confusion. This article takes a look at this issue.
Winter officially arrives next week, and with it, we expect lamb slaughter to decline from recent record highs. Traditionally lamb supply throughout the winter is sustained by the last of the old season lambs, and the arrival of new season spring lambs out of NSW in the second half of July. With the dry continuing, we ask whether these lambs will finished on time, and whether they’ll be there at all.
Cattle lotfeeders seem to have tried to take advantage of harvest to load up feedlots in the March quarter. By the end of March, the number of cattle on feed had risen back above the magic 1 million head mark, and just managed to slip into second place on the all-time rankings.
Mecardo have provided our subscribers with a monthly repository of deciles for a wide range of commodities. Decile tables are one of the most important tools to assist in pricing commodities. It has been a while since we discussed them in relation to wheat.
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