# ABARES outlook predicts farm incomes to drop as drought and coronavirus shrink exports - ABC News

> 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.

- Date: 2020-03-02 · published 2020-03-02T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/54070-abares-outlook-predicts-farm-incomes-to-drop-as-drought-and-coronavirus-shrink
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

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.

## Read by commodity

- LCATTLE: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2022-10-26 | [US Beef Demand Seen Falling in 2023 as Cattle Herd Continues to Shrink – The Van Trump Report](https://feedsoft.ai/events/39088-us-beef-demand-seen-falling-in-2023-as-cattle-herd-continues-to-shrink-the-van.md) | +0.7% | +1.6% |
| LCATTLE | 2026-07-28 | [USDA Reports Provide Insight into Cattle Markets \| Newsline \| American Farm Bureau Federation](https://feedsoft.ai/events/18487-usda-reports-provide-insight-into-cattle-markets-newsline-american-farm-bureau.md) | +1.9% | -2.3% |
| LCATTLE | 2021-04-23 | [Higher cow slaughter and shift in fed cattle slaughter \| Ag Proud](https://feedsoft.ai/events/47537-higher-cow-slaughter-and-shift-in-fed-cattle-slaughter-ag-proud.md) | +0.2% | -1.7% |
| LCATTLE | 2024-06-18 | [Livestock, Dairy, and Poultry Outlook highlights market trends \| Feed & Grain](https://feedsoft.ai/events/29904-livestock-dairy-and-poultry-outlook-highlights-market-trends-feed-and-grain.md) | +1.2% | -0.3% |
| LCATTLE | 2022-02-15 | [Livestock, Dairy, and Poultry Outlook: February 2022 \| Economic Research Service](https://feedsoft.ai/events/42651-livestock-dairy-and-poultry-outlook-february-2022-economic-research-service.md) | +1.0% | -1.5% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2020-03-03/farm-incomes-set-to-drop-as-drought-coronavirus-shrink-exports/12011854

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.