IN PICTURES: Rabobank hosts informative sundowner at Wagin Woolorama

A good crowd gathered at the Rabobank Woolorama marquee in Wagin on Friday to share a drink and get some ag market insight from Rabobank analyst Edward McGeoch at a relaxed sundowner.

Mr McGeoch spoke with local primary producers and said that sheep prices, while set to be above the lows seen last year have steadied or fallen after rallying towards the end of 2023.

“The market is beginning to show signs of resetting following the high volumes of livestock which hit the market in 2023 and which, paired with the dry outlook, had depressed prices,” he said.

“We’ve seen sheep slaughter numbers fall slightly, however given the dry seasonal conditions we are looking towards the second half of the year for any significant correction in supply volumes, especially for lamb.

“And for the wool market — we saw wool prices slide marginally throughout February, with the demand outlook remaining bearish as retail sales growth flatlines in key markets.”