Agricultural commodities: December quarter 2018

​​​​​​​​​​​​​​​​The December edition of Agricultural commodities contains ABARES latest outlook for Australia's key agricultural commodities in ​2018-19. This release is an update to the outlook released in March 2018. ​

Agricultural overview

The value of farm production remains above the 10-year average despite drought conditions​.

Economic overview​

Economic growth in Australia's main export markets remains strong, but downside risks have increased​.​​

Seasonal conditions

A return to average rainfall provides mixed benefits. Unfavourable summer rainfall outlook for northern Australia.​

Wheat

Lower global production to​ drive wheat prices higher.

Coarse grains

Barley prices to increase due to falling world coarse grain stocks.

Oilseeds

Canola prices to rise, reflecting an increase in Chinese imports and a fall in exportable supplies.

Natural fibres

Record world cotton demand to increase prices and lower stocks. A decline in Australian wool production is expected to support prices.

Sugar

Sugar prices to fall to a 10-year low, driven by record world supplies.

Beef and veal

Australian cattle prices to fall due to higher production and export market competition.

Sheep meat

Lamb prices to rise due to strong export demand and falling supplies in major exporting countries​.

Dairy

Milk prices to rise due to a falling Australian dollar and increased competition for milk.

 

If you have any feedback about this publication or our forecasts, please contact us at ABARES Commodities.

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Download report

​DocumentPagesFile size
Agricultural commodities – December 2018 PDF​ 5110.8 MB
​Forecast data – ​December 2018 XLS 1265 KB
Statistical tables – December 2018 XLS 651.4 MB
​Infographics – December 2018 PDF 3​732 KB

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Previous reports

​DocumentPagesFile size
Agricultural commodities – September 2018 HTML   
Agricultural commodities – June 2018 PDF​ 12114.4 MB
Agricultural commodities – March 2018 PDF 25518.3 MB

If you have difficulty accessing these files, please visit web accessibility.

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Last reviewed: 4 November 2019
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