In Focus: Year Ahead Agricultural Price and Production Forecasts – June 2015

• This report provides production and price forecasts for 2015-16 for seven major commodities within NAB Rural Commodities Index; namely wheat, beef, dairy, lamb, wool, sugar and cotton. Overall, we expect prices to generally rise in AUD terms for most of these commodities, with the exception of dairy and sugar, reflecting strong demand for beef in particular as well as the impact of a falling AUD.

• The production outlook is more clouded, underscored by the Bureau of Meteorology’s declaration of El Niño in May 2015. Our forecast for wheat in particular reflects the risk of a major El Niño event occurring this year. Further, we forecast a contraction in beef and lamb supply after a prolonged period of elevated slaughter rates.

For more details, please refer to the attached document.

• In focus – Year Ahead Agricultural Price and Production Forecasts 2015( PDF, 1MB)