
The Sheep Processor Trading Conditions Index fell to 15 per cent in May after brief improvements in March and April. The decline was one of the steepest month-on-month falls in 18 months, driven by rising input costs and weaker co-product values.
Revised data lifted earlier March and April readings.
Weaker processor margins point to reduced livestock processing activity and pressure on rendered co-product returns, which can affect tallow and meatmeal supply. The impact on feed commodity prices is limited.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.