Friday, November 15, 2019
Strong supply meets rampant demand
Cattle supply has shown no signs of slowing in recent weeks, with slaughter still running hot, but prices continued to rise. As outlined earlier in the week, supply is outstripping demand at the moment, forcing counter seasonal price rises.
Friday, November 08, 2019
May I have some more please?
Isn’t it great to see rain falling to parts of NSW and Queensland that have been missing out for some time? Certainly, cattle markets have responded kindly, but we really need to see more rainfall to get the confidence of restockers to re-engage with the market in a meaningful way.
Friday, November 01, 2019
No real reaction to rain forecast -yet
This time last week we were bemoaning the lack of rainfall on the forecast, and predicted more sideways action in markets. They say a week is a long time in football, well it seems to take forever when rain comes on the forecast and we wait for it to fall.
Friday, October 25, 2019
Another week, another rise in export prices
The Aussie dollar was higher thanks to improving prospects for China/US trade, and declining chances of an interest rate cut next week. This had little impact on export prices however, with higher US value driving export prices higher.
Friday, October 18, 2019
Markets primed for rain
Measures of cattle supply across the east coast probe lows not seen in many months and prices across categories are mixed on the week. The reduced supply points to a chance for a rally but the lack of rain is hampering the bounce, despite solid offshore demand and strong export prices.
Friday, October 11, 2019
A new record for the 90CL
Cattle markets continued to track sideways this week, with very little in the way of major movements in most indicators. We did see the Bureau of Meteorology (BOM) update their three month outlook yesterday, which is a little more promising, but not much, while the record for 90CL to the US was finally broken.
Friday, October 04, 2019
A tale of two yardings
It was the best of yardings, it was the worst of yardings... well not quite (and excuse the Dickens pun), but in recent weeks we have seen cattle yarding levels diverging between the East and West coast with the differing supply levels flowing through to the respective cattle price sentiment across most cattle types this week in each state.
Friday, September 27, 2019
Cattle in a holding pattern
Cattle slaughter ticked up last week, but prices continued to track sideways. The market seems to be in a holding pattern in the east, while the WA premium remains strong.
Friday, September 20, 2019
Another gloomy forecast isn’t going to help
Recent cattle market trends continued this week. Young and store cattle remained on the slide, while support for finished cattle remains. The latest BOM three month outlook doesn’t offer a lot of hope for rising prices for the rest of the year.
Friday, September 13, 2019
Support for young cattle drying up
The young cattle price slide continued this week as the lack of rain saw price support dry up further. There were no falls for finished cattle however, as demand continues to respond to rising export cattle prices.