Insights April 2021 - All commodities

Heavy March rainfall across eastern Australia had varying impacts on agricultural commodities. But with a dry outlook ahead, is this the last Australia will see of La Niña?

Flooding in New South Wales saw a significant drop in the volume of sheep sold through saleyards year-on-year. While summer grains, fruits and vegetables experienced quality downgrades and crop losses. Grain supply chains were also interrupted.

Favourable conditions continue to encourage cattle restocking and beef prices continue to climb. Wool prices are also expected to lift in coming months as demand from China picks up.

With forecasts suggesting drier months ahead, soil moisture boosted by the last rainfall of La Niña will prove crucial for winter.