Report prepared 13 October 2017.
Values are above export parity at the moment and appear unsustainable based on current domestic supply and demand estimates.
Producers have been looking to capitalise on the bump in barley prices induced by dry weather, with the recent increase in supply weighing on prices.
The recent rain has improved planting prospects and new crop prices have eased. Old crop prices remain steady with only small volumes being traded.
Source: Dairy Australia
The WASDE report showed global production, consumption and trade increasing slightly from the previous month, offsetting U.S production forecasts.
Source: Namoi Cotton
Winter conditions of the past continue to dampen expectations as crush capacity increases. NSW market to be in deficit for first time in years.
Source: Lachstock Consulting
Prices have fallen due to a lack of export demand, harvest selling pressure in Cent. QLD and an increased planted area for the Sub-Continent new crop.
Prices saw a slight recovery in the lead up to the Oct 17 expiry with slight weakness in the AUD/USD and hurricanes in the US supporting prices.
The cattle rally continues despite a significant increase in yardings, suggesting that producers are holding back cattle in response to recent rain.
On the back of higher cattle slaughter, Australian beef offal exports lifted 5% in September, from year-ago levels – totalling 12,391 tonnes swt.
Source: Meat & Livestock Australia
Firm prices were unable to be weighed down by increased saleyard volumes but prices are likely to adjust as the spring flush gains momentum.
The best quality super fine wools are still selling at a premium although the price gap between best and lowest quality has narrowed considerably.
Source: Australian Wool Innovation
A generally cloudy week ahead with a trough of low pressure is generating unsettled weather over the Nth East, with a low to medium chance of rain.
Source: Bureau Of Meteorology