XE Market Analysis: Asia – Aug 23, 2019

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The Dollar Index fell to eight session lows of 97.67 in N.Y. on Friday, coming from 98.42 at the open. USD sellers stepped in after China announced 5-10% tariffs on an additional $75 bln of U.S. goods, and the Greenback was weighed down by a fairly dovish, but non-committal speech from Fed chair Powell. Volatility perked up later when Trump went after China on Twitter, saying “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA,” Trump said on Twitter.

Source: XE news feed
XE Market Analysis: Asia – Aug 23, 2019

XE Market Analysis: Europe – Aug 23, 2019

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The New Zealand Dollar outperformed and China’s Yuan weakened, while the U.S. buck traded modestly firmer against most currencies as market participants anticipate Fed Chair Powell’s address at the Jackson Hole Symposium later today. Regarding Powell, market participants are evidently not overly hopeful he will signal a clear and strong commitment to sustained rate cuts following hawkish-leaving remarks by Fed members George and Harker yesterday, and the not-so-dovish FOMC minutes from the day before.

Source: XE news feed
XE Market Analysis: Europe – Aug 23, 2019

Markets: Should southern states vendors hold on to weaners to sell as feeders?

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In the current market, should southern states vendors try to hold on to weaners to sell as feeders? It has long been industry convention that a c/kg premium is received for weaner cattle, when compared to feeders, but the current drought conditions have seen a shift in this premium throughout 2019 towards feeder stock.

Source: Beef Central
Markets: Should southern states vendors hold on to weaners to sell as feeders?

Last call for young industry stakeholders to enter for the 2020 Zanda McDonald Award

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Flying around Australia and NZ in a private jet, and being mentored by some of the greatest leaders in the agriculture industry might sound like a bit of a pipe dream, but it will be a dream come true for one young Kiwi or Aussie again next year. The search is on to find talented and passionate young individuals working in the ag sector to apply for the prestigious 2020 Zanda McDonald Award, and while nominations close in a week, it’s still not too late to file an entry.

Source: Beef Central
Last call for young industry stakeholders to enter for the 2020 Zanda McDonald Award

Are you getting enough? Red meat should be embracing World Iron Awareness Week

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A lack of dietary iron is the world’s most prevalent nutrient deficiency. Iron remains red meat’s most powerful consumer marketing weapon in a nutritional sense, and the Australian beef and sheepmeat industries ought to be embracing World Iron Awareness Week, starting next Monday, 26 August.

Source: Beef Central
Are you getting enough? Red meat should be embracing World Iron Awareness Week

XE Market Analysis: Asia – Aug 22, 2019

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The Dollar was lower through N.Y. morning trade on Thursday, seeing the DXY fall from pre-open highs of 98.39 to lows of 98.08. The bulk of losses came following the Markit manufacturing PMI outcome, which dipped under the 50 bust/boom line for the first time since September of 2009. Activity slowed at mid-morning, as market focus shifts to Jackson Hole on Friday morning, (10:00 EDT) when Fed chair Powell will deliver a speech to the KC Fed’s Economic Symposium: Challenges for Monetary Policy. The event has potential to shake up markets.

Source: XE news feed
XE Market Analysis: Asia – Aug 22, 2019

XE Market Analysis: The US Dollar Steadies Ahead of Jackson Hole Party

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OVERVIEW The Dollar Index is flat near a 2019 high, waiting for the big Central Bankers’ meeting we’ve been mentioning over the past few days.  Soft PMI readings send the Euro below the 1.11 handle. WTI Crude oil gained another 1.20% but commodity-currencies remain on the defensive. HIGHLIGHT

Source: XE news feed
XE Market Analysis: The US Dollar Steadies Ahead of Jackson Hole Party

XE Market Analysis: North America – Aug 22, 2019

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EUR-USD more than reversed gains seen following above-forecast Eurozone PMI data, dropping back to the 1.1175-80 area, leaving the post-data high at 1.1113, which matched the one-week peak seen earlier in the week. The common currency saw a similar U-turn lower against the yen, Swiss franc and other currencies.

Source: XE news feed
XE Market Analysis: North America – Aug 22, 2019

XE Market Analysis: Europe – Aug 22, 2019

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The Yen has been on the rise amid a backdrop of convulsing stock markets. Yesterday’s FOMC minutes rekindled a risk-off vibe for the simple lack of a signal that the Fed’s July rate cut was the start of an easing cycle. Fed Chair Powell will have opportunity to refine the central bank’s guidance at his speech tomorrow at the Jackson Hole Symposium. USD-JPY printed a two-day low, at 106.29, as did EUR-JPY, at 117.73. The biggest mover, not surprisingly, has been AUD-JPY, a forex market barometer of shifting risk-appetite patterns in global markets.

Source: XE news feed
XE Market Analysis: Europe – Aug 22, 2019

What can Australia expect, following’s Brazil’s beef access breakthrough with Indonesia?

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What are the implications for Australia, following Brazil’s breakthrough in gaining access to supply beef to Indonesia – the world’s eighth largest beef export market and Australia’s fifth largest in 2018? Brazil’s entry with up to 50,000t of frozen beef will apply competitive pressure to Australia, but both will continue supplying into an ever-expanding market, MLA concludes in a report published this week.

Source: Beef Central
What can Australia expect, following’s Brazil’s beef access breakthrough with Indonesia?

XE Market Analysis: Asia – Aug 21, 2019

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FX activity was extremely muted ahead of the FOMC minutes release, leaving major Dollar pairings largely inside of narrow ranges. Better U.S. housing data supported the USD some through the morning. Later, the dollar showed minimal reaction to the minutes, which didn’t reveal strong clues as to the rate path going forward. USD-JPY wiggled between 106.57 and 106.45, then settled to net unchanged near 106.50. EUR-USD meanwhile, dipped from 1.1094 to session lows of 1.1081, then bounced right back to 1.1095.

Source: XE news feed
XE Market Analysis: Asia – Aug 21, 2019

XE Market Analysis: North America – Aug 21, 2019

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The Dollar has traded mixed, holding near net steady versus the Euro, firmer against the Yen, Swiss Franc and Pound, and lower against the Australian and Canadian Dollars. The Yen traded moderately softer as stock markets in Europe and S&P 500 futures lifted into expected signalling of fresh monetary stimulus by major central banks at their upcoming jamboree at the Jackson Hole Symposium.

Source: XE news feed
XE Market Analysis: North America – Aug 21, 2019

Weekly Property Review: Demand remains strong in NSW Central west and Central tablelands

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While conditions in the NSW Central West and Central Tablelands are desperately dry, the area is still productive and property supply and demand remains good – fuelled to a large extent by buyers from Sydney, property editor Linda Rowley reports in this week’s property review.

Source: Beef Central
Weekly Property Review: Demand remains strong in NSW Central west and Central tablelands

XE Market Analysis: Europe – Aug 21, 2019

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The main currencies have been steady so far today amid a backdrop of sputtering stock markets as market participants wait on upcoming central bank signals from today’s publication of the FOMC minutes from the recent Fed meeting and from the upcoming gathering of central bank policymakers at the Jackson Hole Symposium. Investors are also monitoring trade negotiation, most likely with a degree of trepidation for the lack of concrete signs of progress, whether on the U.S. versus China, U.S. versus Japan or U.S. versus EU fronts.

Source: XE news feed
XE Market Analysis: Europe – Aug 21, 2019

Comment: Red meat reform process needs solutions, not just criticisms

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While there has been lots of talk so far from a relatively small number of people, where the ‘silent majority’ of levy payers stand on the red meat sector reform proposal put forward in early July remains a critically important, but as yet unanswered, question. 

Source: Beef Central
Comment: Red meat reform process needs solutions, not just criticisms

Former Alexandria manager wins NABRC producer medal

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Respected northern Australian cattleman and industry innovator Ross Peatling was awarded the 2019 North Australian Beef Research Council producer medal as part of the Northern Beef Research Update Conference in Brisbane last night. Other medalists came from the fields of research, extension and young achievement.

Source: Beef Central
Former Alexandria manager wins NABRC producer medal

Wool price risk – identify, quantify and mitigate it

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VETERAN wool marketer Mike Avery is understandably frustrated with the low quantities of the Australian clip being marketed forward to mitigate grower price risk – less than 2 percent of the clip has been hedged forward to counter price volatility — representing an opportunity in this low supply period that could have insulated growers against recent dramatic price falls. In this article, he puts the case for greater education, promotion and implementation of forward wool marketing strategies.

Source: Sheep Central
Wool price risk – identify, quantify and mitigate it

Australia could triple grainfed exports to China, says bank research

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Continued growth in beef consumption in Asian countries, particularly China – along with Australia’s strong market access and competitive supply chain – will provide the opportunity for the nation’s total grainfed beef exports to increase 65pc to more than 500,000t by 2030, new Rabobank research suggests.

Source: Beef Central
Australia could triple grainfed exports to China, says bank research

XE Market Analysis: Asia – Aug 20, 2019

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The Dollar was broadly lower in N.Y. trade on Tuesday, taking the DXY from 98.45 highs in early trade, to 98.13 lows into the close. Another dive in Treasury yields weighed on the Greenback, with market participants placing bets on a dovish set of FOMC minutes on Wednesday, and a just as dovish speech from Fed chair Powell at the Jackson Hole symposium on Friday. Wall Street was lower on the back of lower yields, as the fear factor set in. EUR-USD rallied from 1.1066 to 1.1107, while USD-JPY topped at 106.46, before falling back to 106.25.

Source: XE news feed
XE Market Analysis: Asia – Aug 20, 2019

Regional ag businesses harvest the fruits of broadband internet

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When two large Queensland lotfeeding operations invested in broadband internet, questions were posed around whether the service would really help the businesses increase productivity, and whether it was ‘only going be used for social media and Netflix by staff.’ But according to feedback from both, improved connectivity has not only boosted productivity and staff retention, but also reduced maintenance, service costs and labour costs.

Source: Beef Central
Regional ag businesses harvest the fruits of broadband internet

XE Market Analysis: North America – Aug 20, 2019

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The Dollar has headed into the New York interbank open on a mixed footing, showing gains versus the Pound while changing hands at near net unchanged levels against the Euro and Canadian Dollar, and showing losses against the Yen and Australian Dollar. Sterling’s underperformance saw Cable print a three-day low at 1.2074, which was the product of a tweet from UK Prime Minister Johnson reminding us of his no-deal-and-I-mean-it Brexit threat.

Source: XE news feed
XE Market Analysis: North America – Aug 20, 2019

XE Market Analysis: Europe – Aug 20, 2019

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The Australian Dollar has traded firmer and, to a lesser extent, the New Zealand buck. The gains came despite Chinese stock markets sputtering, although other equity markets across the Asia-Pacific region performed better, continuing the recouperation from last week’s acute phase of risk-off positioning. AUD-USD printed a five-day high, at 0.6795, as did AUD-JPY, at 72.36.

Source: XE news feed
XE Market Analysis: Europe – Aug 20, 2019

XE Market Analysis: Asia – Aug 19, 2019

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The Dollar was rangebound in N.Y. on Monday, leaving the DXY between 98.18 lows at the open, and 98.27 after the London close. There was no data to drive the market. Wall Street was higher on trade negotiation hopes, while Treasury yields edged higher as well. EUR-USD slipped from 1.1104 to lows under 1.1090 later in the session. USD-JPY topped at 1.0670 into the open, later easing to 106.46 lows before turning sideways on either side of 106.50. USD-CAD bottomed at 1.3251 into the open, later rallying over its 200-day moving average to highs near 1.3330.

Source: XE news feed
XE Market Analysis: Asia – Aug 19, 2019

Opinion: How do we fund Australia’s herd rebuilding when the bank account is empty?

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Beef Central’s guest commentator Simon Quilty ponders how the Australian cattle industry will rebuild after drought, with an empty bank account. He estimates that $800 million to $1 billion of additional finance will be needed in the first year of the rebuilding phase.

Source: Beef Central
Opinion: How do we fund Australia’s herd rebuilding when the bank account is empty?

XE Market Analysis: North America – Aug 19, 2019

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Moderate weakness in the Yen and the Pound has characterized early-week trading so far. The Yen nudged lower against the Dollar and Euro, tracking a rise in U.S. Treasury and Bund yields, which were accompanied by gains in Asian and European stock markets to complete a risk-back-on picture. USD-JPY printed a two-session high at 106.66, returning last week’s two-week peak at 106.97 back into scope, and EUR-JPY also lifted into two-session terrain. The pound took a rotation lower during the London morning session. Cable posted a low at 1.2116, which is 56 pips down on the day’s peak.

Source: XE news feed
XE Market Analysis: North America – Aug 19, 2019

XE Market Analysis: Europe – Aug 19, 2019

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The Dollar majors have been plying narrow ranges in early-week trading so far, with principal pairings and associated cross rates showing less than a 0.2% net movement heading into the London interbank open. EUR-USD settled in the upper 1.1100s. The pair was lifted on Friday from levels around 1.1170 by reports that Germany will shift to deficit spending should the country enter recession. EUR-JPY has similarly consolidated Friday’s Euro-driven lift; ditto for other Euro crosses.

Source: XE news feed
XE Market Analysis: Europe – Aug 19, 2019

More than $90 million paid in QLD flood recovery grants

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More than $90 million in recovery grants has been paid to flood victims in North and North West Queensland in the six months since unprecedented weather devastated the region in February. About 1500 applications for financial assistance were approved for primary producers, totalling more than $82 million, while $7.8m was paid to flood-affected small businesses. Maxwelton’s Robert and Ruth Chaplain were among the recipients.

Source: Beef Central
More than million paid in QLD flood recovery grants

Weaners and yearlings continue to dominate larger AuctionsPlus offering

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Cattle numbers totalled 9985 head on AuctionsPlus this week, up three percent or 312 head on last week. Weaners and yearlings continue to dominate the offering, totalling 7888 head. Impacts from the seasonal conditions remain present, with clearance dipping 13pc to total 64pc across all cattle offered.

Source: Beef Central
Weaners and yearlings continue to dominate larger AuctionsPlus offering

XE Market Analysis: Asia – Aug 16, 2019

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The dollar headed mostly lower in N.Y. on Friday, dented by a softer consumer sentiment report, and news that Germany will shift to deficit spending should the country enter recession. The latter gave the euro a boost from two-week low of 1.10667, to 1.1106 highs. USD-JPY remained supported by general risk-on conditions, topping at 106.43, after falling to 106.21. USD-CAD idled near its 200-day moving average for mush of the day, later dipping to 1.3275 on pre-weekend position squaring. Cable managed a one week high of 1.2175, following decent U.K. data this week.

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

XE Market Analysis: North America – Aug 16, 2019

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EUR-USD has declined for a fifth consecutive day, earlier pegging a two-week low at 1.1074. A stop-loss and long-covering decline in EUR-GBP, which has fallen by nearly 1%, has driven a broader underperformance in the Euro. EUR-USD’s ebb today has extended the fall the pairing saw following yesterday’s firmer than expected U.S. retail sales and productivity data, which tipped the balance of Fed versus ECB easing expectations a little (especially with ECB’s Rehn arguing for “impactful and significant” stimulus in a WSJ interview).

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

XE Market Analysis: Europe – Aug 16, 2019

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Narrow ranges have been prevailing amid a restive mood in global markets. Hopes for more central bank stimulus have been winning out in equity markets, for now, though this is juxtaposed by fears that a number of major economies are simultaneously heading for recession, with a number of developing-world economies with high dollar debt levels are particularly exposed to the shifting financial cycle. Given these fears, further conciliatory remarks are likely from both China and the U.S. with regard to their trade spat, which may help maintain investor spirits.

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

Recruitment: The importance of workplace culture for success

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NOW, more than ever, employees are choosing red meat industry supply chain workplaces where they feel valued and believe in the overall mission of the business. It’s not surprising, then, that the most successful agribusinesses will always have a solid workplace culture in place.

Source: Sheep Central
Recruitment: The importance of workplace culture for success

Casino veal supply chain wins national food industry award

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One of Australia’s most successful and enduring veal supply chains has won a major national food industry award. Northern Cooperative Meat Co’s Three River Farms veal brand won a major accolade in the annual Food and Beverage Industry awards held at Darling Harbour in Sydney last month.

Source: Beef Central
Casino veal supply chain wins national food industry award