Rough Market Remains Subdued – Tenders Outperform

Global rough markets remain relatively subdued as overall buyer sentiment remains more apprehensive than last month. Notwithstanding this, there is still good demand for larger better goods whereas smaller cheaper goods becoming harder to move causing the tightening of financial liquidity in this segment of the market. Grainer sizes in rough moving well due to strong demand pull-through for polished pointers. Tender results continue to outperform market with strong prices achieved across major tender houses last week in both Belgium and South Africa. Market looking towards this month’s Las Vegas trade show to judge expectant demand over the next few months.