ISSUE # 700, 16th September 2016 Pig Prices c/kg HSCW, Trim 1 Head on (average indicative prices). W/E 16/09/ kg 60kg (Buyers)

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1 ISSUE # 700, 16th September 2016 Pig Prices c/kg HSCW, Trim 1 Head on (average indicative prices). W/E 16/09/ kg 60kg (Buyers) Male Female Barrows Male Female Barrows QLD NSW VIC SA WA EASTERN SEABOARD* NATIONAL kg 60kg (Sellers) Male Female Barrows Male Female Barrows QLD NSW VIC SA WA EASTERN SEABOARD* NATIONAL kg 75kg (Buyers) Male Female Barrows Male Female Barrows QLD NSW VIC SA WA EASTERN SEABOARD* NATIONAL kg 75kg (Sellers) Male Female Barrows Male Female Barrows QLD NSW VIC SA WA EASTERN SEABOARD* NATIONAL

2 75.1kg 85kg (Buyers) Male Female Barrows Male Female Barrows QLD NSW VIC SA WA EASTERN SEABOARD* NATIONAL kg 85kg (Sellers) Male Female Barrows Male Female Barrows QLD NSW VIC SA WA EASTERN SEABOARD* NATIONAL kg and above (Buyers) Male Female Barrows Male Female Barrows QLD NSW VIC SA WA EASTERN SEABOARD* NATIONAL kg and above (Sellers) Male Female Barrows Male Female Barrows QLD NSW VIC SA WA EASTERN SEABOARD* NATIONAL Backfatter Sows (Buyers) AVERAGE PRICE QLD NSW VIC SA WA EASTERN SEABOARD* NATIONAL Backfatter Sows (Sellers) AVERAGE PRICE QLD NSW VIC SA WA EASTERN SEABOARD* NATIONAL : Denotes change from previous week. *Eastern Seaboard: Includes QLD, NSW, VIC & SA states only. Page 2 of 6

3 SALEYARD PRICES (Buyers) Baconer price Porker Price Numbers Sold LW TW LW TW LW TW Toowoomba (QLD) N/A 300 N/A (43) Ballarat (VIC) N/A N/A N/A N/A N/A N/A N/A N/A Dublin (SA) N/A N/A N/A : Denotes change from previous week. N/A: Denotes no data provided. Pork Wholesale Prices (Sydney c/kg) (Source: APL Market Reporting TW: This Week LW: Last Week RAA: Rolling Annual ) 16/09/2016 CARCASS BROKEN SALES Pork Bacon Legs Legs Ham Trim Saddles Loin Forequarters Bellies TW LW September 2016 Rolling Annual /09/2016 CARTON SALES US Ribs Boneless Legs Fillets Boneless Middles mm fat Boneless Middles mm fat Boneless Shoulders Pork Neck Trim 90CL TW LW September 2016 Rolling Annual Page 3 of 6

4 Weekly Grain Comments (Source: Profarmer) To the point: Global grain markets remain buyers markets. Local sellers remain unenthused by the values on offer in the current market. International and National Over the past week Egypt, the world largest wheat importer, received no offers for their latest two wheat tenders (where they were seeking offers of wheat). This came in response to the Egyptian government re-introducing a zero ergot policy, denying cargos with any sign of contaminants. Egypt s recent change in policy has seen a lack of offers for recent tenders, with sellers unwilling to risk rejection, hence no supplier guaranteeing ergot free wheat. Although global values showed little response to this news it does continue to send strong signals to the global market remains a buyer s market. Recent wet weather in the US is hindering the harvest of soybean and corn crops, and giving way to some concerns about diseases in these crops. However, strong export appetite combined with delays to the harvest, which is tightening the supply for US soybeans, has triggered a lift in US and global oilseed values, with Aussie oilseed (namely canola) values remaining strong compared to other crops including wheat and barley. This week, wet conditions across Australia are making some noise around the globe, with excessive rains raising concerns about crop losses and end quality. Despite this yield potential continues to climb, despite these conditions, however some concerns about the end quality prolife remain in play. With the quality profile of global wheat stockpiles perhaps currently below average, in terms of protein content etc, global markets are more acutely monitoring the expected quality profile of this year s Aussie crop, compared to other years, to see if it is able to fill the gaps in the global quality profile. Page 4 of 6

5 Wheat Sth QLD/Nth NSW The drag on values created through burdensome global supplies of wheat continues to be reflected in these markets. While the expectation of Australia harvesting a bumper crop this year remains in play, sellers continue to remain reluctant to engage with the market. However many sellers who are engaging with the market are doing so as they believe the current price environment is likely to stick around for a while longer. Sth NSW/VIC/SA Further south similar factors are keeping pressure on values however recent rains have made it difficult to access some grain that is stored on farm. As a result some buyers who have short term commitments to meet (such as for feeding stock) have had to look elsewhere to secure the tones they are after. Some sellers have benefited from the heat that has been added to the bid side, in order to get this grain moving. Barley Sth QLD/Nth NSW Feed barley values in these areas have come under pressure over the past week. As is the case with wheat expectations of a bumper Aussie harvest combined with limited export appetite continues to place pressure on local values. Sellers are also engaging with the market on the basis of the ongoing negative outlook for values. Sth NSW/VIC/SA Looking further south many sellers remains reluctant to engage the market given the current values on offer. However the lack of depth on the bid side continues to frustrate some sellers who have bitten the bullet and looked to get at least some tones moving. Sorghum A lack of export appetite for Aussie sorghum is continuing to keep a lid on local values, and as the US corn harvest continues to bolster global feed grain stocks this trend looks set to continue, much to the dissatisfaction of sellers of sorghum. Page 5 of 6

6 Weekly Grain Table (Source: ProFarmer) Delivered Darling Downs Deliverd Brisbane Delivered Northern NSW LW TW LW TW LW TW LW TW Feed Wheat Feed Barley Sorghum Soy meal Canola meal Cotton seed LW TW LW TW LW TW LW TW Feed Wheat Feed Barley Triticale Soy meal Canola meal Delivered Geelong Delivered Adelaide Delivered Fremantle LW TW LW TW LW TW Feed Wheat Feed Barley Soy meal NA NA - Canola meal Feed Oats Delivered Newcastle Delivered Southern NSW Delivered Port Kembla Delivered Goulburn Valley Delivered Central VIC DD = Darling Downs Bris = Brisbane Nth NSW = Northern New South Wales New = Newcastle Sth NSW = Southern New South Wales Pt K = Port Kembla GV Goulburn Valley Central Vic = Central Victoria Geel = Geelong Adel = Adelaide Freo = Fremantle. LW = Last week TW = This week = Change N/Q = No Quote Due to the volatility of the grain market, caution must be used when valuing data. Disclaimer: The information contained in this report cannot be forwarded to, or used by, any third party without prior written consent from Australian Pork Limited (APL). This information has been collected and processed by APL and has not been prepared for any particular individual or entity. The information contained in the report may not be an accurate reflection of market prices or of changes in market prices. The report does not constitute a recommendation by, or opinion of, APL. While APL has no reason to believe that the information contained in this report is inaccurate, APL is unable to guarantee the accuracy of the information at any point in time and, subject to any terms implied by law which cannot be excluded, accepts no responsibility for loss suffered as a result of any party s reliance on the accuracy or currency of the content of this report. The information contained in the report should not be relied upon for any purpose, including as a substitute for professional advice. Nothing within the report constitutes an express or implied warranty, or representation, with respect to any future matter or as to the value of or demand for any good. Page 6 of 6