Australia Agribusiness Monthly & Covid-19 Update May 2020

This monthly update provides a market outlook 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: A tough month lies ahead, as panic buying passes and income effects come to the fore.

Grains & Oilseeds: Lower corn prices will weigh on CBOT wheat. This, together with generally sound global wheat production prospects, has prompted us to revise our 12-month CBOT wheat price range to USc 525 to USc 534/bu.

Dairy: Rabobank is forecasting a Southern Export Milk Price of AUD 5.70/kgMS in the 2020/21 season.

Beef: Prices are levelling out after correcting from market highs.

Sheepmeat: Prices to lift slightly as we head into winter and supplies become more limited.

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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

    Senior Analyst - Dairy
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  • Blake Holgate

    Analyst - Animal Protein, Sustainability
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