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ABARES expects 2018-19 Australian farm production to fall about 6% in volume and 4% in value to $58 billion, with the grain crop value down 11%. Cattle prices are forecast to fall 3% in 2019-20 as drought, higher global beef output and export competition weigh.
Expected weaker Australian cattle prices and higher global beef production add to competition in export markets, while poor pasture conditions limit herd rebuilding and feed demand.
theland.com.auKim ChappellMar 5, 2019After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% 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.
