Australia is on track to produce the second-highest wheat crop on record, on the back of the highest wheat crop on record. But globally, tight wheat stocks are supporting the price outlook.
Tight global beef supply and rising prices support the floor Australian cattle prices have established in recent times. It still doesn’t look like our markets are heading back to 2018-19 levels in the medium term.
LAMB & SHEEP
While lambs supply is on the increase, it is more than matched by increasing demand. As we look forward to 2022, we should see prices fall, but that is assuming steady demand, and we have seen six demand surges in the past 20 years.
The wool market remains positive against global concerns for the economy & available energy supplies. It is supported by strength in the apparel fibre complex.
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