Australian agriculture mid-year outlook 2020

The Australian agriculture mid-year outlook 2020 analyses the performance of key agricultural commodities and provides a forecast of what we can expect in the second half of 2020.

Favourable seasonal conditions are driving restocking for cattle and sheep producers, and increasing production of fruit and vegetables, milk, cereals, canola and wool. However, lower demand in part due to COVID-19 is affecting cropping, wool and some dairy and horticulture products. Prices are also forecast to fall across wool, fruit, vegetables, dairy and cropping.

As an agricultural specialist lender, Rural Bank understands that issues impacting farm business performance can evolve quickly and farmers are operating in an unpredictable environment. The Outlook report offers farmers the ability to evaluate each element of their industry and is a tool that can be used for scenario planning on farm.