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ABARES' Outlook 2018 forecasts Australian farm gross value to drop 5% to $59 billion this financial year because of poor global grain prices and a stressed harvest. Saleyard cattle prices are forecast to fall 15% on strong international beef competition.
Lower Australian cattle prices and weaker grain output reduce local feed demand and availability for Asian and domestic buyers.
farmonline.com.auKim ChappellMar 6, 2018After 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.
