prices

Australian sugar, barley and feed grain prices were stronger in September, in contrast to cattle prices which have reached their lowest levels since late 2014, according to NAB’s October Rural Commodities Wrap ... the Wrap reports the NAB Rural Commodities Index* fell 4.6% in September and is now 34% below the peak in rural prices back in June 2022.

It's been a few seasons since Australian Rural & Regional News found out all about the innovative farm to plate online marketplace, Farmer to Fridge (formerly Half A Cow) from founder James Gilbert. Especially with prices the way they are, it's timely to find out how this young business is travelling, and what it has to offer meat producers and meat eaters too.

Australian agriculture, fisheries and forestry are set to have the third-highest yearly gross value on record in 2023-24, with production value predicted to reach $86 billion. Executive Director of ABARES Dr Jared Greenville said release of the ABARES Agricultural Commodities and Crop Reports shows the sector is remaining strong despite challenging conditions.

Even early removal of Chinese anti-dumping tariffs would not be enough to prevent Australia’s wine industry facing several years of oversupply, Rabobank says in its newly-released Wine Quarterly Q3 2023 report ... So large is the current oversupply, says Ms Piggott, that Australia has the equivalent of 859 olympic swimming pools worth of wine in storage.

Beef producers can expect a two-year holding pattern on cattle prices as drought conditions widen, processing sector labour shortages persist, and a huge stockpile of meat in Asian freezers start to thaw. While lightweight heifers will take the biggest price hit, the emerging El Nino may mean business opportunities for producing heavy Jap ox and heavy feeder steers, according to market analyst Simon Quilty, of Global AgriTrends.

CBOT (Chicago Board of Trade) wheat prices soared eight per cent overnight, after Ukrainian ports were hit by Russian missiles and Russia’s Ministry of Defence warned that all vessels travelling to Ukraine’s Black Sea ports will be considered as potential carriers of military cargo. This was the highest trading level of CBOT wheat since a spike in mid-June and previously in February this year, Rabobank senior grains analyst Dennis Voznesenski said.

Signs of weakening demand for dairy are spreading across markets. According to a new report from Rabobank, the cumulative effects of high food price inflation over the past 24 months, along with slowing economic activity in 2023, have translated into lower dairy demand in developed and emerging markets.

Australian farmer confidence has improved marginally thanks to easing concerns about commodity prices and input costs, however it remains in negative territory overall. The latest quarterly Rabobank Rural Confidence Survey, released on 13 June 2023, saw confidence lift nationally from -25 per cent in the first quarter of 2023 (the lowest level since late 2018) to now sit at -22 per cent.

Australian Winter crop production is forecast to fall from record highs due to below average rainfall for winter and spring. ABARES Executive Director Dr Jared Greenville said the Australian Crop Report forecasts total Australian winter crop production to fall by 34% to 44.9 million tonnes in 2023–24 following three consecutive record production years.

The overall value of the agriculture sector is set to contract by 14% in 2023-24 due to drier than normal conditions after three La Nina years ... “Looking further ahead, it’s likely we will see either El Nino or a positive Indian Ocean Dipole in the coming months, which will reduce crop yields": Executive Director of ABARES Dr Jared Greenville.