The London Fish Exchange

LFEX European Aquaculture Snapshot to 14th December, 2023

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The LFEX Norwegian Exporters Index for Week 50 2023 ended the week up +4.18%, +3.41 NOK to stand at 85.03 NOK (in EUR terms 7.21 / +0.27/ + 3.82%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended up at 11.80 to the Euro over the period Thursday to Thursday +0.04 NOK or +0.34%. The Fish Pool future December was reported down – 1.00 NOK, -1.18% at 84.0 NOK.

The index price opened on Friday at 83.2 NOK / +1.90 %, +1.58 NOK which was near the middle of the indicated range in early market price discovery (which had been a wide spread). However, predictions of weak prices during / towards the end of the week were not realised as some optimism pushed the market. Monday saw 85, flat Tuesday and a peak on Wednesday at 86.93 NOK. Thursday softened for the weeks close back at 85.03. This positive price out come was inline with the technical analysis signals showing strengthening pricing. What happened – stable volumes and stronger 5/6s brought the index higher along with more optimism midweek.

Next week is the last trading week before Christmas and the holiday season and is a difficult one to predict. The week 51 dance – sellers don’t want to be left with fish over, buyers don’t want to buy fish they can’t sell, there is the unknown around week 52 demand and week 51 is a full harvesting week. It may be a week of 2 halves with pricing depending on the harvest day. Currently price discovery from sellers is between 85.5 and 93.75 – which is quite a spread. This may change as the afternoon develops…updated index pricing for Friday as usual will be published later today and we will have more visibility.

Week 49 2023 fresh volumes were 22,243 vs 23,460 for the same period last year and the index stood at 80.67 NOK for WK49 – as a comparison albeit the EURO rate was 10.54. David Nye’s technical analysis report will be published on Monday.

David Nye’s technical analysis report will be published on Monday.

Did You Know?

The LFEX platform has been designed to allow you to manage your business in real-time from a single application.

It means not only is key information available at your fingertips to allow you to make the trading decisions you need to make, it allows you to act on those decisions effectively and efficiently. As a tool it matches systems found in financial markets where time and money are critical.

FAQ’s

Q. I have a certain amount of inventory I want to sell at a target price – how can I do that?

A. If you know how much you want to move, at what price and which potential customers you want to sell it to – you can configure this in seconds on the system. You can then manage this in real-time, chip away at the orders but always in control of where you are at. You can use the chat facility to engage with and encourage customers around your offer.