Seasonal conditions and declining winter crop forecasts reflect drop in NAB Rural Commodities Index.
Resilient cattle and lamb prices sustain flat NAB Rural Commodities Index.
Cattle markets and southern rain stabilises NAB’s Rural Commodities Index
Overall, the NAB Rural Commodities Index rose 1.1% in April, largely reflecting higher cattle, lamb, dairy and cotton prices, offsetting further declines in grain.
Overall, the NAB Rural Commodities Index fell 2.7% in March, largely reflecting lower cattle, grain and fruit prices.
Overall, the NAB Rural Commodities Index gained 0.2% in February – “above water” only due to strong gains in fruit and vegetables, dairy and to a lesser extent wool and sugar.
Global Dairy Trade auction results have seen some upside since December after a fairly weak run over much of 2018.
Harvest is now underway for 2018-19 winter crop, a season which will likely go down as one of the most mixed in years.
The NAB Rural Commodities Index rose 1.8% in October, following a 6.5% jump in September.
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