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LFEX European Aquaculture Snapshot to 19th October, 2023
The LFEX Norwegian Exporters Index for Week 42 2023 ended the week down -3.34%, -2.84 NOK to stand at 82.17 NOK (in EUR terms 7.03 / – 0.35 /- 4.75%) FCA Oslo Week ending Thursday vs previous Thursday.
The NOK rate was higher at 11.69 to the Euro over the period Thursday to Thursday +0.17 NOK or +1.48%. The Fish Pool future October was reported up + 2.00 NOK, +2.50% at 82.0 NOK.
Index prices opened up on the Friday at 87.73 NOK / +3.1% in line with the initial indications with an even 1 NOK spread between sizes 3-6. The story of the week was bad weather reducing volumes and pushing up prices, as supply was cancelled at the beginning of the week. Prices went (too) high and came off sharply as the week progressed. Top to bottom down -5.50 NOK / -6.27%. Further NOK weakness contributed to larger falls for EURO buyers. Fresh volumes for week 41 were 24,679 (vs 25,537 wk41 2022). Looking forward to next week potential for more bigger fish 5+. Early pricing is limited still, but general feedback is pricing to be a little lower than Thursday which closed at 82.17.
David Nye’s technical analysis report will be published on Monday.
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