XE Market Analysis: Asia – Oct 16, 2019

The Dollar was lower on Wednesday in U.S. trade, leaving the DXY at one-month lows of 97.90, from opening highs of 98.39. Weaker U.S. retail sales dented USD sentiment, while a flat business inventory outcome put some downward pressure on Q3 GDP expectations. Treasury yields slipped lower, while Wall Street took a break from recent gains, leaving stocks moderately under water. EUR-USD rallied to 1.1085 from 1.1023 lows, while USD-JPY was range bound between 108.55 and 108.85. USD-CAD topped at 1.3231 following cooler Canada CPI, later falling to 1.3185.

Source: XE news feed
XE Market Analysis: Asia – Oct 16, 2019

XE Market Analysis: EU Officials Burn the Midnight Oil, But An Exit Plan Remains Elusive

OVERVIEW The USD wasn’t among the many Democratic candidates debating last night, but it is under pressure.    GBP is having a long-overdue day in the sun even after EU and UK officials were unable to come to terms on a Brexit agreement before the pre-summit midnight deadline. Several countries reported their inflation numbers yesterday. Canada’s CPI rose by 1.9%.   HIGHLIGHT

Source: XE news feed
XE Market Analysis: EU Officials Burn the Midnight Oil, But An Exit Plan Remains Elusive

XE Market Analysis: North America – Oct 16, 2019

The pound corrected some of its recent gains, and the Australian and New Zealand dollars came under some pressure amid a restive and risk-wary sentiment in global stock markets, while EUR-USD and USD-JPY, and most other pairings, held in narrow ranges. Sterling was off lows but still showing a decline of 0.3% against the dollar, as of the early London afternoon sessions. Volatility has been high in the UK currency amid mixed messaging from ongoing last-minute Brexit negotiations.

Source: XE news feed
XE Market Analysis: North America – Oct 16, 2019

XE Market Analysis: Europe – Oct 16, 2019

The dollar majors have been trading narrowly so far today. The pound has been consolidating after rallying yesterday as markets were tantalized by the prospect of a Brexit deal, which had until last week looked like a remote possibility. Cable posted five-month peak at 1.2800 just after the London fixing, subsequently correcting to the lower 1.2700s before turning back higher, with the bid presently at 1.2776. The EU had set a deadline of midnight yesterday for a draft of the deal to be legally documented, but that looks to have come and gone.

Source: XE news feed
XE Market Analysis: Europe – Oct 16, 2019

Collapse of the wool market is simple and logical – Small

NO funny business is in play with Australia’s currently volatile raw wool auction markets – just over-priced stocks, a lack of global consumer confidence and a failure to address rising non-mulesed wool demand, writes Western District wool producer and garment manufacturer Peter Small in his perspective on the current market conditions.

Source: Sheep Central
Collapse of the wool market is simple and logical – Small

Red Meat 2030 plan aims to double red meat sales value in 10 years

A PLAN to guide and grow Australia’s red meat industry over the next 10 years has been released this morning, setting an ambitious goal to double the value of industry sales to $57 billion and triple the amount of capital invested in the sector within the next decade.

Source: Sheep Central
Red Meat 2030 plan aims to double red meat sales value in 10 years

Red Meat 2030 released, with goal to double red meat sales value within 10 years

A plan to guide and grow Australia’s red meat industry over the next 10 years has been released this morning, setting an ambitious goal to double the value of industry sales to $57 billion and triple the amount of capital invested in the sector within the next decade.

Source: Beef Central
Red Meat 2030 released, with goal to double red meat sales value within 10 years

XE Market Analysis: Asia – Oct 15, 2019

The Dollar was mostly lower in N.Y. on Tuesday, led by gains in both Sterling and the Euro, which came following reports that an EU/U.K. Brexit deal may be close. Cable vaulted to near five-month highs just under 1.2800, while EUR-USD topped at 1.1045. USD-JPY rallied on another risk-on session, with trade talk hopes weighing on the risk-sensitive Yen. USD-CAD fell to 1.3197 lows, as oil prices rose. Bigger picture, the Dollar may come under some pressure in the coming sessions, especially if the Brexit issue is somehow solved, and positive news continues on the U.S./China trade front.

Source: XE news feed
XE Market Analysis: Asia – Oct 15, 2019

XE Market Analysis: Brexit X-Factor Helps Sterling Hit a 5-Month Peak

OVERVIEW There is breaking news of a draft Brexit deal pushed the GBP up to 1.2750 Reports from the US and China are conflicting as far as how close the world’s two largest economies are on a trade deal.  HIGHLIGHT The GBP is up 0.5% on the day with Brexit X-factor dictating market sentiment. WTI Crude oil at $52.80 a barrel, is trading lower (-1.5%), extending yesterday’s decline over weak Chinese data.

Source: XE news feed
XE Market Analysis: Brexit X-Factor Helps Sterling Hit a 5-Month Peak

XE Market Analysis: North America – Oct 15, 2019

The dollar has traded mixed so far today, while a rise the pound has been the biggest mover out of the main currencies. The pound pared gains, having remained below the respective highs seen last Friday against the dollar and yen. The UK currency did managed to eke out a fresh five-month peak in the case against the euro, however. The mood music on the Brexit front has been upbeat, though non-committal.

Source: XE news feed
XE Market Analysis: North America – Oct 15, 2019

African Swine Fever drives global protein shortage to a critical level in 2020

In 30 years of meat trading I have never seen such a global protein deficit before, and I know of no other precedent in the last 100 years that rivals the situation brought on by African Swine Fever, independent analyst Simon Quilty writes in his latest ASF update. “To me these are uncharted waters that is likely to see many records broken, whether it’s for protein prices, protein volume flows to certain countries, or changes in consumer buying patterns of proteins. Nothing will ever be quite the same again after August 4 last year when Swine Fever first appeared in…

Source: Beef Central
African Swine Fever drives global protein shortage to a critical level in 2020

XE Market Analysis: Europe – Oct 15, 2019

Both the pound and the euro are up against most other currencies on an increased perception that there will be another Brexit delay, which would take the deadline out to January 31 or later. There is also increasing signs that Prime Minister Johnson has a stab at winning sufficient parliamentary support on his plan should he manage to reach a deal with the EU. But it’s a tall order, as Johnson would be relying on Labour members and members he ousted from his party.

Source: XE news feed
XE Market Analysis: Europe – Oct 15, 2019

XE Market Analysis: North America – Oct 14, 2019

The biggest mover so far today has been the GBP-JPY cross, which has dropped by nearly 1%, reflecting about two parts sterling underperformance amid reports of a lack of progress in Brexit negotiations over the weekend, and about one part yen outperformance, which rebounded as the optimism over the yet-to-be-signed-off U.S.-China trade deal faded. The dollar traded most firmer, rising versus the pound and dollar bloc currencies, holding at modestly firmer levels against the euro, while losing a little ground to the yen.

Source: XE news feed
XE Market Analysis: North America – Oct 14, 2019

XE Market Analysis: Europe – Oct 14, 2019

Currencies have opened the week in undramatic fashion, with the major dollar pairings and cross rates plying range ranges so far. Sterling has drifted lower, correcting some little after seeing the biggest two-day rally in 25 years at the tail end of last week. Opposition parties have poured cold water on the government’s Brexit plan, Northern Ireland’s DUP, not surprisingly (being unionists and given the plan to keen Northern Ireland aligned with the EU customs union post Brexit, which would insert customs border between it and the rest of the UK), and also many Labour Party members.

Source: XE news feed
XE Market Analysis: Europe – Oct 14, 2019

Beef industry today ‘almost unrecognisable’ from 2005, SmartBeef forum told

Highlighting the change and innovation that has occurred in the Australian meat industry during a panel session at ALFA’s SmartBeef conference in Dalby, Teys Australia’s Tom Maguire said the industry today was almost unrecognisable from the industry he joined 14 years ago.

Source: Beef Central
Beef industry today ‘almost unrecognisable’ from 2005, SmartBeef forum told

XE Market Analysis: Asia – Oct 11, 2019

With the exception of USD-JPY, the Dollar was lower in N.Y. trade on Friday. Save-haven flows seen into the USD over the past week or so have been unwound to a degree on positive trade news, while strength in the pound and Euro have stepped up on hopes for a Brexit resolution. GBP-USD rallied to three-month highs of 1.2707, up nearly 500 points from Thursday’s low. EUR-USD meanwhile, printed three-week highs of 1.1063. USD-CAD fell to one-month lows of 1.3171 following a strong Canada jobs report.

Source: XE news feed
XE Market Analysis: Asia – Oct 11, 2019

XE Market Analysis: Europe – Oct 11, 2019

Risk-on positioning has continued to be expressed in currencies, which has seen the yen edge out fresh lows and the dollar bloc and most developing-world currencies rise (even the Turkish lira has come off the lows over the last day). Markets are hopeful that the U.S. and China will reach a partial trade agreement. Trump said the first day of the 13th round of trade talk were “very, very good,” while a White House official cited by Reuters said the talks were “probably better than expected” and a U.S.

Source: XE news feed
XE Market Analysis: Europe – Oct 11, 2019

Agtech: eGrazor measuring cattle pasture intake

Working in collaboration with the NSW DPI, CSIRO has developed a monitoring device that determines pasture intake by cattle based on behavioural information. The solar-powered system’s sensors are worn by grazing livestock, and collect real-time behavioural data that can be interpreted to inform management and selection strategies for more sustainable livestock production systems.

Source: Beef Central
Agtech: eGrazor measuring cattle pasture intake

Vale Bill Loughnan

Bill Loughnan cared deeply for country people and the rural sector, a devotion that was reciprocated in the deep respect in which he was held throughout the industry.

Source: Beef Central
Vale Bill Loughnan

Rangers Valley’s Black Market wins 2019 Darling Downs Beef Battle + PICS

Rangers Valley’s premium Angus brand “Black Market” was last night crowned grainfed and overall champion of the 2019 Darling Downs Beef Battle following a blind taste test of sirloin steaks from 10 premier brands involving no less than 324 individual judges.

Source: Beef Central
Rangers Valley’s Black Market wins 2019 Darling Downs Beef Battle + PICS

XE Market Analysis: Asia – Oct 10, 2019

After fading overnight, the Dollar slipped further in N.Y.. trade on Thursday. Cooler U.S. CPI didn’t help the Greenback, while hopes for a U.S./China trade deal in one form or another pressured the USD, as recent safe-haven flows were reversed. Wall Street and yields moved higher after it was announced that Trump would meet China vice-premier Liu He at the White House on Friday. The DXY printed better than two-week lows of 98.63, from overnight highs of 99.06. EUR-USD meanwhile, touched three-week highs of 1.1035 into the open, later fading slightly to 1.1002 lows.

Source: XE news feed
XE Market Analysis: Asia – Oct 10, 2019

Recruitment: Research reveals what young ag recruits want

MANY companies along the Australian sheep meat or wool supply chain will look at putting on fresh and young talent as part of their 2020 recruitment strategies, to allow newcomers to learn the ropes from experienced co-workers and build core experience as part of a sustainable business. Here are some insights into how to harness their talents and retain younger recruits.

Source: Sheep Central
Recruitment: Research reveals what young ag recruits want

Recruitment: Research reveals what young ag recruits want in their careers

Many companies positioned somewhere along the Australian beef supply chain will look at putting-on fresh and young talent as part of their 2020 recruitment strategies, to allow newcomers to learn the ropes from experienced co-workers and help build core experience as part of a sustainable business in the future. Here’s some insights into how best to harness their talents, and retain younger recruits.

Source: Beef Central
Recruitment: Research reveals what young ag recruits want in their careers

XE Market Analysis: North America – Oct 10, 2019

The dollar bloc and the euro have been outperforming the dollar and yen, along with most other currencies. This came against a return to a sputtering price action in stock markets in Europe after gains in Asia and on Wall Street yesterday. The euro was showing respective gains of over 0.5% against the dollar and yen as of the early European afternoon, and a gain of around 0.2% against both sterling and the Swiss franc.

Source: XE news feed
XE Market Analysis: North America – Oct 10, 2019

XE Market Analysis: Europe – Oct 10, 2019

The dollar bloc currencies have lifted amid a cautious risk-on vibe in Asia, led by a rally on Chinese stock markets. AUD-JPY was showing a gain of about 0.5% as it printed a nine-day high at 72.81, while AUD-USD rallied to around the 0.6750 mark from the low 0.67s. USD-CAD retreated to the lower 1.3300s after posting a one-week high at 1.3345. Both the dollar and yen have been trading softer, which has nudged EUR-USD above 1.1000 for the first time in two weeks, and put EUR-JPY in 13-day high terrain. Investors appear to be giving out hope that both…

Source: XE news feed
XE Market Analysis: Europe – Oct 10, 2019

Trade agreements critical to Australia’s regions and red meat jobs 

The Australian red meat industry urged both sides of Government to proceed with ratification of two critical free trade agreements without delay, following today’s release of a Joint Standing Committee on Treaties (JSCOT) report.

Source: Beef Central
Trade agreements critical to Australia’s regions and red meat jobs 

A national drought policy should be an easy, bipartisan fix. Why has it taken so long?

In a country as dry as Australia, surely it is a no-brainer that we have in place a coordinated, national drought response that can be rolled out the same way that the Natural Disaster Relief and Recovery Arrangements, writes Linda Botterill in this cross-posting from The Conservation.

Source: Beef Central
A national drought policy should be an easy, bipartisan fix. Why has it taken so long?

XE Market Analysis: Asia – Oct 09, 2019

The Dollar turned lower ahead of the N.Y. open on Wednesday, with losses coming on the reversal of safe-haven flows seen on Tuesday, reversed following reports that China would consider a partial trade deal with the U.S. Later, the USD posted a partial recovery, seeing the DXY move from 98.90 lows to 99.15 highs after the London close. Wall Street and Treasury yields moved higher as well. Incoming data was light, with only the wholesale report on tap, which has little impact on the market. EUR-USD stalled under the 1.1000 mark, later easing back to 1.0970.

Source: XE news feed
XE Market Analysis: Asia – Oct 09, 2019

XE Market Analysis: China Signals it May Be Open to a Partial Trade Deal with the US on Agriproducts

OVERVIEW Brexit continues to give currency investors the jitters. China states it will be would be open to buying US agricultural products, giving new hope of more positive trends to come in US-China trade talks The euro, yen and Canadian dollar are only making modest gains as the USD succumbs slightly to pressure. HIGHLIGHT

Source: XE news feed
XE Market Analysis: China Signals it May Be Open to a Partial Trade Deal with the US on Agriproducts

XE Market Analysis: Europe – Oct 09, 2019

The dollar took a turn lower concomitantly with news, via Bloomberg sources, that China is open to agree a partial trade deal despite the U.S. blacklisting of Chinese organisations. This saw some unwinding in risk-on position as stock markets in Europe rallied. S&P 500 futures were showing a 0.8% gain heading into the New York interbank open. EUR-USD rose moderately, printing a high at 1.0990, though remaining shy of yesterday’s peak at 1.0996. The yen underperformed, lifted USD-JPY despite a broader bid tone in the dollar, which tilted the pair towards the mid 107.0s.

Source: XE news feed
XE Market Analysis: Europe – Oct 09, 2019