What to expect from Sheep and lambs in 2023 according to Rural Bank research
Lamb producers will head into 2023 with confidence as a rebuilt flock and wet conditions fuel a period of high production with prices to remain high from a longer-term perspective A high supply environment is set to continue for Australian lamb into the first half of 2023. A rebuilt national sheep flock led to increased […]
What to expect from dairy produce in 2023 according to Rural Bank research
Expected lower milk supply should see high prices sustained in the coming season, but the elevated cost of inputs could keep margins for farmers at the slim end Australian milk production is forecast to be 6 to 8% below average in the 2022-23 season. The dairy industry continues to contend with elevated input costs and […]
What to expect from Cattle breeding in 2023 according to Rural Bank research
Favourable rainfall outlook in cattle regions means restocker demand is likely to remain firm as herd rebuilding continues while there is good pasture availability Australia’s beef production is expected to rise by 5% during the first half of 2023 but will remain well below average levels. This comes on the back of favourable seasonal conditions […]
What to expect from Cropping in 2023 according to Rural Bank research
Strong export demand keeping grain prices at a historically high level will see growers confident in putting in a full cropping program heading into the 2023-24 season Winter cereal production is forecast to be the second highest on record this season. Wheat production will surpass 30 million tonnes for the third consecutive year, for an […]
Sheep numbers and sheepmeat production is expected to increase even further
Sheep producers are in a strong position due to a larger flock and strong demand from the US and other export markets Sheepmeat production is forecast to rise in the second half of the year according to the Rural Bank’s Australian agriculture mid-year outlook report. The report goes on to say that supply so far […]
Dairy production to increase slightly as global supply continues to be constrained
Domestic demand is expected to remain robust with 2022/2023 farmgate prices ranging from $8.50–$9.80/kg MS with an average of $9.21/kg MS Dairy production is forecast to see a modest increase for the remainder of 2022 according to Rural Bank’s Australian agriculture mid-year outlook. An extended La Nina period has replenished water supplies and feed […]
Cattle numbers provide basis for beef production to rise in the second half of 2022
Consumer demand is expected to remain firm, while restocker demand is strong but overall cattle prices could marginally ease in second term of 2022 Local beef production is forecast to increase by 4.5% during 2022 according to Meat and Livestock Australia (MLA), as reported in the Rural Bank’s Australian agriculture mid-year outlook. This result is […]
Winter crop production expected to be above average with high global prices
Reduced global supply of cereals will see continued demand for Australian grain into new world markets According to Rural Bank’s Australian agriculture mid-year outlook, estimated wheat production of 30.5 million tonnes is a year-on-year decline of 21% but remains 17% above average. However, it should be pointed out there is wide discrepancy in the estimated […]