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LFEX European Aquaculture Snapshot to 26th July, 2024
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Published: 26th July 2024 This Article was Written by: John Ersser |
The LFEX Norwegian Exporters Index for Week 30 2024 ended the week down -1.97%, -1.59 NOK to stand at 79.25 NOK (in EUR terms 6.56 / – 0.31 / -4.48%) FCA Oslo Week ending Thursday vs previous Thursday.
The NOK rate ended up, at 12.08 to the Euro over the period Thursday to Thursday +0.31 NOK or +2.63%. The Fish Pool future July was reported down – 0.45, -0.58% at 76.70 NOK with August showing 80.70 NOK.
Last Week
Pricing opened fractionally up +0.11 NOK / 0.14% at 80.95 as compared to the prior weeks close to set the high for week 30 trading. The market has found stability at these NOK levels for this part of the summer. Again, calm pricing with no large volatility swings. Prices dropped a tickle Monday to 80.61, Tuesday 79.96 and Wednesday flat and closed on the low of the week at 79.25. The real story is the NOK weakness which made the market 4.5% cheaper this week for the Euro buyers as the EURNOK rate moved 2.63% and breached the 12.NOK level.
Spread showing around 4.5 NOK 3/4s – 5/6s a slight rise on last week.
Next Week
Pricing for next week is looking at a further softening off of the back of last week, with Index pricing coming in around 77.5 NOK offered / 6.49 EUR currently]. A quiet summer market, and fish are available. There is also cheaper fish left over from last week which may further influence pricing.
Volumes
Volume figures for week 29 (2024) were 18,177 tons versus a lower 17,898 in 2023. Volumes for weeks 30 and 31 (2023) were 19,604 and 20,649 respectively for comparison.
Historical Price Guidance
A year ago, Week 31 2023 prices ended down -4.43%, -3.68 NOK to stand at 79.36 NOK FCA Oslo while the Euro stood at 11.26 and Fishpool August showed 73.5 as prices continued their summer slide as volumes continued to build.
David Nye’s technical analysis report will be published on Monday.
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Market Data (Click Each to Expand)
LFEX Prices | FX Rates | LFEX Indicative Exporter Prices (4 Week) | EUR / NOK FX Rate (4 Week) |
Prices Ending 26th July, 2024 For Friday's Price For Next Week, Offers & Trading Please Register |
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