# Steady growth forecast for Australian food commodities, ABARES | Australian Food News

> ABARES forecasts Australian farm production of $59 billion in 2017-18, a 5 per cent fall from the record 2016-17 season. It expects global crop production to ease from very high levels while stocks stay high and prices low to 2022-23, absent supply shocks.

- Date: 2018-04-09 · published 2018-04-09T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/65461-steady-growth-forecast-for-australian-food-commodities-abares-australian-food
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

A forecast of ample global stocks and low prices through 2022-23 is bearish for grain prices. Rising US beef production is also expected to increase competition in Australian beef export markets.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: bearish ▼
- LCATTLE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-03-05 | [ABARES forecast: 38% more grain in Australia if it](https://feedsoft.ai/events/60041-abares-forecast-38-more-grain-in-australia-if-it.md) | -1.0% | -1.8% |
| WHEAT | 2024-06-06 | [ABARES releases forecast for Australian grain yield \| Dry Bulk](https://feedsoft.ai/events/29710-abares-releases-forecast-for-australian-grain-yield-dry-bulk.md) | +3.7% | -7.6% |
| WHEAT | 2019-06-11 | [Australia's winter crop forecast to jump 20 per cent says national forecaster ABARES - ABC News](https://feedsoft.ai/events/58544-australia-s-winter-crop-forecast-to-jump-20-per-cent-says-national-forecaster.md) | -4.7% | -8.3% |
| WHEAT | 2025-05-13 | [USDA forecasts Australian new-crop wheat at 31Mt - Grain Central](https://feedsoft.ai/events/24628-usda-forecasts-australian-new-crop-wheat-at-31mt-grain-central.md) | -4.2% | -2.6% |
| WHEAT | 2022-02-28 | [ABARES forecasts value of Australian agriculture to hit $81b in 2021-22, a new record - ABC News](https://feedsoft.ai/events/42662-abares-forecasts-value-of-australian-agriculture-to-hit-81b-in-2021-22-a-new.md) | +12.1% | +26.0% |
| LCATTLE | 2016-09-02 | [Commodities: Gasoline drops for Labor Day](https://feedsoft.ai/events/8590-commodities-gasoline-drops-for-labor-day.md) | -1.8% | -6.1% |
| LCATTLE | 2023-12-05 | [ABARES forecasts agricultural production to fall $16b this financial year due to dry conditions in spring - ABC News](https://feedsoft.ai/events/32670-abares-forecasts-agricultural-production-to-fall-16b-this-financial-year-due-to.md) | -1.4% | +1.3% |
| LCATTLE | 2018-04-17 | [Lower beef and pork prices forecast - Brownfield Ag News](https://feedsoft.ai/events/65666-lower-beef-and-pork-prices-forecast-brownfield-ag-news.md) | +2.9% | -4.6% |

## Sources

- ausfoodnews.com.au: https://www.ausfoodnews.com.au/2018/04/09/steady-growth-forecast-for-australian-food-commodities-abares.html

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