Agricultural commodities: March quarter 2019

​​​​The March 2019 edition of Agricultural commodities contains ABARES latest outlook for Australia's key agricultural commodities to 2023–24.​​​

Market forecasts

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.​


Lower global production to​ drive wheat prices higher.

Coarse grains

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


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


Sugar prices to rise due to lower world production.


Demand from China for Australian wine to support wine grape prices.


Growing fruit and nuts production to increase horticultural value.

Natural fibres

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

Beef and veal

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

Sheep meat

Lamb prices to fall only slightly from historical highs because of strong saleyard competition.


Milk prices to fall due to increased production by major competitors.

Pig and Chicken

Pig and chicken meat production growth to slow in 2018–19 and 2019–20 due to high prices for domestic feed grains.

Fisheries outlook

Salmonids and rock lobster are forecast to drive growth in fisheries and aquaculture production value.

Meat consumption

Analysis of global meat consumption trends.


Featured articles

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

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​DocumentPagesFile size
Agricultural commodities – March 2019 PDF​ 17316.6 MB
​Forecast data – ​March 2019 XLS 1265 KB
Statistical tables – March 2019 XLS 651.4 MB
​Infographics – March 2019 PDF 4​1.5 M​B

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Previous reports

​DocumentPagesFile size
Agricultural commodities – December 2018 HTML   
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.

Last reviewed: 4 November 2019
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