# Wool, wheat prices tipped to 'bounce back' after horror year

> ABARES forecasts Australian wool prices to rise 4% in 2018-19 to $17/kg and wheat prices to rise 6% to US$234/t. Total farm production is tipped to fall to $59 billion in 2017-18 after dry conditions in key growing regions.

- Date: 2018-03-05 · published 2018-03-05T12:00:00.000Z
- Category: report · region Australia · magnitude low
- Page: https://feedsoft.ai/events/65952-wool-wheat-prices-tipped-to-bounce-back-after-horror-year
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Expected wheat and milk price gains off low bases raise feed-ingredient costs, though the outlook is for recovery after a drought-hit year.

## Read by commodity

- MILK: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-05-17 | [WHEAT SCOOPS: What to do about volatile wheat prices](https://feedsoft.ai/events/41452-wheat-scoops-what-to-do-about-volatile-wheat-prices.md) | -2.8% | -3.7% |
| WHEAT | 2018-12-06 | [Wheat prices: locked and loaded](https://feedsoft.ai/events/61614-wheat-prices-locked-and-loaded.md) | -0.1% | +1.5% |
| WHEAT | 2026-08-14 | [bne IntelliNews - The Black Sea war sends world wheat prices up](https://feedsoft.ai/events/14096-bne-intellinews-the-black-sea-war-sends-world-wheat-prices-up.md) | +6.2% | +10.1% |
| WHEAT | 2022-05-12 | [Tightening US and World Wheat Supplies Send Wheat Futures Prices to Near Limit Gains](https://feedsoft.ai/events/41347-tightening-us-and-world-wheat-supplies-send-wheat-futures-prices-to-near-limit.md) | +5.9% | +0.7% |
| WHEAT | 2021-04-01 | [UK feed wheat price rises after surprise in global market - Farmers Weekly](https://feedsoft.ai/events/47552-uk-feed-wheat-price-rises-after-surprise-in-global-market-farmers-weekly.md) | +0.2% | +4.6% |
| MILK | 2019-02-26 | [Higher dairy prices likely by the end of the year](https://feedsoft.ai/events/4487-higher-dairy-prices-likely-by-the-end-of-the-year.md) | +8.5% | +7.9% |
| MILK | 2017-08-02 | [Global food prices near 3-year high driven by record butter prices](https://feedsoft.ai/events/5484-global-food-prices-near-3-year-high-driven-by-record-butter-prices.md) | +4.8% | +6.7% |
| MILK | 2022-07-22 | [World milk supplies 'to stay tight', as output falls for first time in 18 years - Grain Price News](https://feedsoft.ai/events/40491-world-milk-supplies-to-stay-tight-as-output-falls-for-first-time-in-18-years.md) | 0.0% | -10.9% |

## Sources

- smh.com.au: https://www.smh.com.au/business/companies/wool-wheat-prices-tipped-to-bounce-back-after-horror-year-20180305-p4z2w8.html

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