The Australian Financial Review --- Page: 6 : 20 March 2007 Original article by Angus Grigg
ABIX Summary
There is both good and bad news for Australian farmers. The price of sheep has shot up in the two months to March 2007. Cattle prices are also rising, after the drought eased in New South Wales and Queensland. However, Australia is expecting a big wheat crop in 2007 and this could push the price of wheat down. There has been rainfall in parts of Australia in recent weeks, improving the outlook for farmers. A leading economic forecaster has predicted that wheat will average around $A210 a tonne in 2007 on a crop of 24 million tonnes. The rains have meant that farmers want to fatten their sheep and beef, to get the best prices.
