Mid-January saw China and the USA sign off on phase one of a new trade deal, using pre trade war volumes from 2017 as a benchmark for expansion in trade volumes. While it is still early days in the negotiation a key aim of the Trump administration is to get China to import more US agricultural products, with US beef and pig farmers excited by this prospect.
Argentina is the main wool producer in South America, with a large proportion of merino wool. As such it is useful to understand what is happening in terms of production in the South American region since supply (under supply) has become an issue in the greasy wool market. This article draws heavily on the statistics published by the Argentine Wool Federation (FLA) to look at the Argentine clip in comparison to the Australian wool clip.
The latest Australian Bureau of Statistics (ABS) release of the November sheep and lamb slaughter data offered few surprises. The weekly slaughter data released by Meat and Livestock Australia has opened up at very similar levels to last year. There is likely to be some tightening to come however, at least for sheep.
It’s important when marketing grain to seize the opportunities that are available, normally January is a quiet time of year – not this year. The US futures market has provided an opportunity to start your 2019/20 with a futures price close to A$320.
Mecardo have created a series of regional rainfall charts across the nation in order to compare the current seasonal rainfall on a monthly basis to the long term average levels and the normal/extreme ranges.
Amongst the general price volatility of merino prices last week, prices for sub-14 micron wool (admittedly a small category by volume) lifted strongly. This article takes a quick look at this segment of the greasy wool market
The canola market has seen a surge in pricing levels since harvest commence. This has been beneficial to producers who generally wait until harvest before selling their canola. In this update we take a look at the basis between ICE canola futures and local pricing.
It’s been some time since the 7 day precipitation forecast has looked so promising, and we are even starting to see some impact at the yards. As we wait to see if the rains will indeed arrive, we’ll take a look at movements in export markets, as it might have stripped some of the potential upside out of the market.
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Mecardo information is provided to assist in your marketing decisions. It contains a range of data and views on the current market. It is not intended to constitute advice for a specific purpose. Before taking any action in relation to information contained within this report, you should seek advice from a qualified professional. The information is obtained from a variety of sources and neither Mecardo nor Ag Concepts Advisory will be held liable for any loss or damage whatsoever that may arise from the use of information or for any error or mis-statement contained in this report.
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