{"id":1002,"date":"2018-07-17T15:53:00","date_gmt":"2018-07-17T15:53:00","guid":{"rendered":"http:\/\/propertyandlivestock.com.au\/?p=1002"},"modified":"2020-05-11T17:16:21","modified_gmt":"2020-05-11T17:16:21","slug":"snapshot-of-the-australian-economy-july-2018","status":"publish","type":"post","link":"https:\/\/propertyandlivestock.com.au\/en_au\/snapshot-of-the-australian-economy-july-2018\/","title":{"rendered":"Snapshot of the Australian Economy \u2013 July 2018"},"content":{"rendered":"\n

The current Australian Economy<\/a><\/p>\n\n\n","protected":false},"excerpt":{"rendered":"

The current Australian Economy<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","two_page_speed":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1002","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nSnapshot of the Australian Economy \u2013 July 2018 - David Carter Property and Livestock<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertyandlivestock.com.au\/en_au\/snapshot-of-the-australian-economy-july-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Snapshot of the Australian Economy \u2013 July 2018 - 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(Source: Rabobank Agribusiness Outlook 2018) Wheat\u00a0- prices\u00a0will\u00a0continue\u00a0to\u00a0be\u00a0weighed\u00a0down\u00a0in\u00a02018,\u00a0following\u00a0another\u00a0record\u00a0year\u00a0of\u00a0global\u00a0wheat\u00a0production\u00a0in\u00a02017, and with\u00a0forecast\u00a0global\u00a02017\/18\u00a0ending\u00a0stocks\u00a0set\u00a0to\u00a0reach\u00a0a\u00a0new\u00a0record\u00a0of\u00a0273\u00a0million\u00a0tonnes.\u00a0Prospects\u00a0for\u00a0market\u00a0strengthening have\u00a0however\u00a0emerged,\u00a0with\u00a0Rabobank\u00a0forecasting\u00a0a\u00a0limited\u00a0price\u00a0appreciation\u00a0in\u00a0the\u00a0global\u00a0benchmark\u00a0over\u00a0the\u00a0coming\u00a0year. Barley\u00a0\u2013\u00a0forecasts\u00a0for\u00a0the\u00a0lowest\u00a0global\u00a0ending\u00a0stocks\u00a0in\u00a0more\u00a0than\u00a030\u00a0years\u00a0and ongoing\u00a0strength\u00a0in\u00a0Australian\u00a0livestock markets\u00a0are\u00a0set\u00a0to\u00a0keep\u00a0barley\u00a0prices\u00a0elevated. Dairy\u00a0\u2013 the\u00a0road\u00a0to\u00a0recovery\u00a0resumes,\u00a0the\u00a0Rabobank\u00a0report\u00a0says,\u00a0with\u00a0trading\u00a0conditions\u00a0for\u00a0dairy\u00a0farmers\u00a0to\u00a0be\u00a0broadly attractive,\u00a0and\u00a0processor ownership\u00a0issues\u00a0resolving.\u00a0Growth\u00a0in\u00a0the\u00a0global\u00a0exportable\u00a0dairy\u00a0surpluses\u00a0will\u00a0however\u00a0continue\u00a0to\u00a0expand\u00a0in\u00a0the\u00a0first\u00a0quarter\u00a0of\u00a0the\u00a0year,\u00a0putting\u00a0ongoing pressure\u00a0on\u00a0global\u00a0prices. However,\u00a0the\u00a0bank\u00a0isn\u2019t expecting\u00a0these\u00a0surpluses\u00a0to\u00a0overwhelm\u00a0the\u00a0global\u00a0market.\u00a0China\u2019s\u00a0import appetite\u00a0for\u00a0dairy\u00a0is\u00a0also\u00a0forecast to\u00a0remain\u00a0buoyant\u00a0during\u00a0the\u00a0year. 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