mag
20-6-2005, 09:08 pm
With the cattle futures showing some strength at the moment, especially in the September contract where is is currently at 39.25 cent premium to the physical indicator, looks like a good indication of a stronger market to come, this maybe a reaction to the confirmed case of BSE in the US.
We have received some reports of cattle poisoning caused by plant toxicity, being so dry in the east some cattle are subject to this at this time of year after such a bad season.
Exports of live cattle and sheep are likely to rise where growers need the funds, have a few clients who are now starting to rebuild stocks after such a prolonged dry spell, and good rains have given them enough feed at last.
On the export front, with rains in Australia, NZ is expecting to gain market share as more rural producers hold onto stocks, rather than sending them to slaughter, however boxed beef prices have fallen slightly this week, and the strengthening NZ dollar is working against the export market in the NZ market at the moment this coupled with the expected reduction of the kill figures out of NZ we would expect the international market prices to keep near their current record highs.
So all in all some positive news in between the lines for the cattle industry , but then again ABARE have forecast that saleyard price should ease 9.2% to 285 cents a kilogram, we await the events to come, so make your moves with caution and pick your market if you dare... :eek:
Cheers..
We have received some reports of cattle poisoning caused by plant toxicity, being so dry in the east some cattle are subject to this at this time of year after such a bad season.
Exports of live cattle and sheep are likely to rise where growers need the funds, have a few clients who are now starting to rebuild stocks after such a prolonged dry spell, and good rains have given them enough feed at last.
On the export front, with rains in Australia, NZ is expecting to gain market share as more rural producers hold onto stocks, rather than sending them to slaughter, however boxed beef prices have fallen slightly this week, and the strengthening NZ dollar is working against the export market in the NZ market at the moment this coupled with the expected reduction of the kill figures out of NZ we would expect the international market prices to keep near their current record highs.
So all in all some positive news in between the lines for the cattle industry , but then again ABARE have forecast that saleyard price should ease 9.2% to 285 cents a kilogram, we await the events to come, so make your moves with caution and pick your market if you dare... :eek:
Cheers..