How 2021 is shaping up for farm produce

Matt Coughlan
·1-min read


* Wheat - Strong global demand to keep prices firm through the year

* Beef - Rebuild year with favourable conditions triggering increased breeding numbers, and reduced slaughter keeping cattle prices firm

* Lamb - Prices will remain strong but fall short of recent record levels given weaker demand and increasing animal numbers

* Wool - Expecting recovery in global consumer demand to lift wool prices

* Dairy - Strong cause for optimism that profitable market settings will extend into the 2021/22 season

* Sugar - A balanced global supply outlook is met with significant risks including La Nina, trade flows and coronavirus

* Cotton - Production set for sharp recovery as demand recovers post-coronavirus

* Wine - COVID-19 disruptions to hospitality will continue to underpin retail demand but Australia's tensions with China will pressure average export prices

* Horticulture - Strong demand in key markets but coronavirus disruptions and geopolitical tensions to take the shine off

(Source: Rabobank Agribusiness Outlook 2021)