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ABARES projects Australian farm incomes to fall 8 percent in 2019-20, with farm cash income near zero in NSW. Drought and coronavirus are cited as the main causes, and the coronavirus poses a significant short-term risk to Asian export demand.
Weaker farm incomes and reduced livestock exports mean less Australian beef and sheepmeat supply for export markets, which can support prices. Lower farm spending also weighs on local demand for feed.
abc.net.auClint Jasper, Kath SullivanMar 2, 2020After 78 past neutral report events, Live Cattle moved a median +0.2% over 5 sessions (54% higher; middle half -1.0% to +1.0%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
