commodities

New and improved agricultural levies legislation will replace the existing framework next year, making the levy system more user friendly for participants and making it easier for them to understand their obligations. More than 50 pieces of legislation governing over 110 levies and charges – across 75 commodities and 18 bodies that receive levies – are being streamlined into five Acts and subordinate legislation.

Qld and WA farmers reported improved optimism heading into the end of the year, while sentiment was more subdued in other states, the latest Rabobank Rural Confidence Survey has found ... on a national basis farmers were becoming increasingly cautious about the outlook for the agricultural economy, with nearly half (47 per cent) attributing their concerns to dry seasonal conditions, while rising cost pressures are also a worry.

Cattle prices surged by 6.3 per cent month-on-month in August, highlighting strong demand and boosting the NAB Rural Commodities Index*, which remained unchanged overall despite significant variability among individual agricultural commodities. NAB’s August Rural Commodities Wrap, released today, notes that while the overall index held steady, global dairy prices also partially recovered after sharp declines in July, contributing to the positive momentum in cattle prices.

Confidence has returned to Australia’s farming sector following a mid-year dip in sentiment, as more favourable livestock markets and beneficial rain in some cropping areas fuel renewed optimism. The quarter three Rabobank Rural Confidence Survey ... found sentiment among the country’s agricultural producers had rallied heading into spring, although farm sector confidence remained just shy of net ‘positive’ levels...

Australian agriculture is set to benefit this financial year, as the gross value of agricultural production is forecast to increase by 4 per cent. ​The ABARES Agricultural Commodities and Crop Reports show a significant growth in the sector, from $82.5 billion in 2023-24 to $86.2 billion in 2024-25.

Mixed seasonal conditions across the country – coupled with economic pressures – have seen the nation’s farm sector confidence take a U-turn in the latest quarter, declining after a resurgence in optimism at the start of the year. he quarter two Rabobank Rural Confidence Survey ... found sentiment among the country’s agricultural producers had dipped into ‘negative territory’ – with fewer farmers expecting a better year ahead than those holding a negative outlook.

Production in Australia’s agriculture, fisheries and forestry sectors remains on track to be the third highest on record in 2024-25, supported by an improved seasonal outlook ... Executive Director of ABARES Dr Jared Greenville said this quarter’s Agricultural Commodities and Australian Crop Report show an expected improvement in agriculture following drier conditions seen in 2023-24.

Rising prices for a range of rural commodities including cattle, cotton and dairy have seen the NAB Rural Commodities Index* increase for the fourth month in a row. NAB’s March Rural Commodities Wrap ... reports the Index increased 2.2 per cent month-on-month in February and is back up around levels last seen in April 2023.

Australia’s farmers are approaching the end of the year with a hint of improving optimism as rural confidence levels nudge slightly higher in the latest quarter. The Q4 Rabobank Rural Confidence Survey, found net level farmer confidence across the nation edged up marginally…

After 2 record years, broadacre farm incomes are forecast to fall significantly in 2023–24 due to drier conditions and lower prices for agricultural commodities, especially livestock. ABARES Executive Director Dr Jared Greenville said that, at a national level, average farm cash income for broadacre farms is expected to decrease 41 per cent to $197,000 per farm in 2023–24, representing a fall in incomes back to levels seen 3 years ago.