Australia Agribusiness Monthly April 2020

This monthly update provides a market outlook and Covid-19 update for dairy, beef, sheepmeat, and other key commodities, and gives an overview of what developments to watch in the weeks to come.

Highlights

Covid-19: The Chinese market has entered the slow recovery process, but the rest of the world is now falling ill. USD prices will fall in many commodities in coming months as panic-buying fades and negative income effects kick in.

Grains & Oilseeds: With higher global pricing and a supportive AUD, we now see APW trading at between AUD 378/tonne (FOB ADL) through to AUD 410/tonne (FOB BNE) in Q4 2020. 

Dairy: Weak pricing in dairy markets is set to continue in the near term.

Beef: Favourable seasons and strong producer demand will continue to support domestic livestock prices. 

Sheepmeat: Prices are coming off the boil.

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  • Tim Hunt

    Head of RaboResearch Food & Agribusiness - Australia & New Zealand
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  • Michael Harvey

    Senior Analyst - Dairy
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  • Angus Gidley-Baird

    Senior Analyst - Animal Protein
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  • Cheryl Kalisch Gordon

    Senior Analyst - Grains & Oilseeds
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  • Wesley Lefroy

    Analyst - Agriculture
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  • Charles Clack

    Commodity Analyst
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  • Hayden Higgins

    Senior Analyst - Horticulture, Wine
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  • Emma Higgins

    Analyst - Dairy
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  • Blake Holgate

    Analyst - Animal Protein, Sustainability
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