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The NAB Rural Commodities Index gained 1.4% month on month in June, following a 3.1% gain in May. On a year on year basis, the index was down 2.9% in June. The monthly gain reflects strong lamb, wool and cotton prices.

The NAB Rural Commodities Index gained 3.1% month on month in May after falling 2.8% in April. On a year on year basis, the index was down 4.4% in May. The monthly gain reflects strong grain, horticultural, dairy, wool and cotton prices.

2018 has been exceptionally dry across much of Australia, with knock-on downside to restocker interest and young cattle prices.

The NAB Rural Commodities Index gained 3.0% month on month in March, its second consecutive rise.

The NAB Rural Commodities Index gained 1.2% month on month in February, following a drop of 1.8% in January. On a year on year basis, the index was down 2.9% in February. The gain was driven by higher grain, fruit and dairy prices, offsetting falls in beef, lamb and sugar.

2018 has seen a fairly mixed start to the year, with significant differences between regions and industries.

Dairy prices have trended downwards overall since mid last year, and although 2018 has brought some relief in USD terms, the higher AUD has eroded these gains.

The connection of Eastern Australia to global LNG markets has seen domestic prices face a wild year.

The Australian beef cattle industry has enjoyed a great run over the past couple of years, with the Eastern Young Cattle Indicator (EYCI) hitting a record over 720c/kg in September last year.