Friday, March 22, 2019
Improving season reflected in prices
It looked like cattle prices were headed into the abyss, but then sellers and buyers alike saw a bit of rain on the radar and started to think they were a bit cheap. And up prices go, quicker than they came down in fact.
Friday, March 15, 2019
What the... rainfall?
When the Bureau of Meteorology (BOM) say their forecast accuracy at this time of the year is poor they aren’t kidding. Just a fortnight ago I was lamenting the poor rainfall forecast issued by the BOM in late February and just yesterday they issued a complete turnaround. Too bad it hasn’t flowed through to cattle market prices yet.
Friday, March 08, 2019
Autumn is tanking time
We’ve hit autumn and cattle producers who were holding out have hit the button. Cattle supply has ramped up, as a dry summer and the spectre of a dry autumn sees the Eastern Young Cattle Indicator (EYCI) heading back toward 400¢.
Friday, March 01, 2019
A nasty turn around
A fortnight ago the Bureau of Meteorology’s rainfall outlook wasn’t shaping up as too bad at least for the Southern parts of the country – how quickly it can all change. Yesterday’s release of the three-month outlook now points to a delayed Autumn break and much lower chance of rainfall exceeding the median across much of the Eastern half of the nation during March to May.
Friday, February 22, 2019
Market pays no heed to supply warnings
With everything pointing towards lower cattle supply, and grain prices on the wane, we would think the market should start taking heed at some stage. It was not this week though, with the downward trend in cattle prices extended.
Friday, February 15, 2019
I see red, I see red, I see red, and it’s not Valentine’s roses.
Softening cattle prices across the board this week and all major NLRS reported categories of cattle across the East coast are now below levels recorded this time last season, including Heavy Steers, albeit marginally. However, some respite may be on the horizon thanks to an improved BOM outlook.
Friday, February 08, 2019
What will northern rain do to the market?
There have been floods in Townsville and massive rains across large swathes of Northern cattle country. There has, however, been no relief for much of the Murray Darling Basin. The wash-up, so to speak, was a little bit of support for cattle prices this week.
Friday, February 01, 2019
As January goes...
Back in 2016 MLA put out an interesting piece that looked at the Eastern Young Cattle Indicator’s (EYCI) performance over the month of January and compared it to the rest of the season. As each January ends it makes me think of this piece. Let’s hope for our beef producer’s sake it doesn’t hold this season.
Friday, January 25, 2019
Cattle on the slippery slope
Cattle prices continued to slide this week, but managed to show some positive signs on Thursday. There were falls across the board on the east coast, as supply continued to overwhelm demand.
Friday, January 18, 2019
Not the greatest start to 2019
The first full week of cattle sales for 2019 provides limited cheer after the festive break with all key reported categories along the east coast registering price falls. There was a glimmer of hope in offshore markets, but the Bureau of Meteorology (BOM) compounded the sad start by giving us a below average rainfall forecast for much of the summer.