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Stars align for Australian agri sector
Farmers believe 2021 is shaping up to be an “instrumental” year in the long-term prosperity of the Australian farming sector, as commodity prices and seasonal conditions buoy confidence across the country. Despite a small fall from the previous quarter, Rabobank’s latest quarterly Rural Confidence Survey showed almost 90% of Australian farmers are expecting the “generally excellent” business conditions currently being experienced in the agricultural sector to either continue or improve over the year ahead.
Elders upbeat on earnings with a positive crop outlook
Agribusiness Elders, reporting a strong lift in sales and profit for the half year to March, is upbeat on the rest of the year with improved winter cropping conditions and good cattle prices. Sales at Elders were up 22% to $1.1 billion and statutory profit was 31% higher at $68.2 million.
Local land values go gangbusters
Narrandera, Lockhart and Temora shires are among the hot button areas in regional NSW for rural dryland property with prices reaching a staggering $12,000 per hectare. According to the Rural Bank’s overview of 2021 Australian farmland values released on Tuesday, cropping land in the Riverina is highly sought after.
Locals purchase Brooms Head store
Geoff Helisma. ... The Browns’ successful $1.265million bid for the property – the store, a residence and five units – fulfilled their long-held desire to purchase the property ... Mr Brown said he is comfortable withe the price. “We were always prepared for the price to go higher … factoring in the price of real estate in Yamba and Coffs Harbour; in theory it should have been more like $2m,” he said. “The last house sold in Brooms Head went for $1.5m; it was a knock down house.
NRLX sells $10m in a record week
In an inspiring turnaround since the devastating drought and bushfires, the Northern Rivers Livestock Exchange has celebrated its biggest ever week with a combined revenue from three days of sales exceeding $10 million ... NRLX operations manager Brad Willis said the sale results proved the strength of the region’s market. “Many buyers commented it was the strongest sale they had ever seen, including several who came from as far afield as the Victorian border,” Mr Willis said. “Demand for high quality cattle remains exceptionally strong, and it’s fair to say the selection of cattle on sale last week was some of the best quality stock in the country." Mr Willis said people had said the Casino market was so strong and the prices were unbelievable. “Many of the local producers who sell their stock through the NRLX were hand feeding their herds at the peak of the drought in mid-2019. Then many were hit by the fires,” he said.
Autumn rain lifts EYCI outlook in the short-term
NAB. Solid rainfall across many previously dry areas of Queensland over the last two weeks is expected to spark a short-term resurgence in young cattle prices, as many producers turn from sellers to buyers. In NAB’s March Beef in Focus Report, the bank’s forecast for the Eastern Young Cattle Indicator (EYCI) has been revised up slightly to 850c/kg for Q2 of 2021 on the back of recent rain.
Record cattle prices could last the rest of 2021
Analysts say the latest cattle industry projections suggest record cattle prices could last through the rest of calendar 2021. Meat & Livestock Australia’s (MLA) 2021 Cattle Industry Projections forecasts cattle slaughter to fall to its lowest level in 25 years as producers retain stock. The rebuild comes after cattle numbers fell to 24.6 million head in 2020 – their lowest level since the early 1990s – as a result of prolonged and severe drought.
Australian agriculture looking to profitable year ahead – industry outlook
Australia’s agricultural sector is set to enjoy an overall profitable year ahead – underpinned by high commodity prices, positive seasonal conditions and low interest rates, and despite expected continuing trade tensions with China – according to a newly-released industry outlook.
Rabobank – short supplies force prices to rise
CBOT G&O prices launched out the gate in 2021, reaching their highest prices since 2014 as supplies continued their decline from last year. Global demand continues to be strong,and the weather is imperfect, leaving a precarious balancing act until resupplies arrive in major exporters. Non-Commercials are piling into an inflation bet ...
Outlook – Fertiliser prices trend down
Plentiful supply of fertiliser supply along a stable currency outlook spells further good news for growers in the year ahead, according to analysts at...
