Australian commodity April update

Ag sector outlook

• Horticulture: Planting decisions for vegetable producers are firmly in focus as cost pressures impact growers. At the checkout, freight costs are beginning to impact prices with Queensland and Tasmania key suppliers in April.
• Cattle: The rising costs of freight, dry weather outlook and higher supply at local markets all weighed down prices across March.
• Cropping: Local grain markets have firmed into early April as volatility created pricing opportunities, with northern wheat and barley leading the move while canola rebounded as offshore oilseed support flowed back into domestic values.
• Sheep: Lamb and mutton prices have continued higher in March, with the recent projections from MLA indicating tighter supply may be here to stay.
• Wool: Wool prices had a volatile month in March with prices correcting after successive increases. Despite freight cost concerns demand looks to hold steady.
• Dairy: A stabilising milk pool, strong global supply, higher processing costs, as well as the potential for global recession will ultimately lead to conservative opening prices for the 2026/27 season, landing around this season’s estimate of $9.40/kg MS (southern indication).
• Carbon and climate: A warmer and drier autumn is expected across much of the country as Australia transitions from a La Nina phase to El Nino at the end of winter.