Livestock prices continue to place downward pressure on the NAB Rural Commodities Index, which has fallen for the eighth consecutive month to now be 28.1 percent below June 2022 levels.
NAB’s July Rural Commodities Wrap released today reports cattle and sheep prices are trending lower, while wool fell 7.2 pc in June, and dairy export prices and sugar were also lower.
NAB Senior Agribusiness Economist, Phin Ziebell, said cattle prices have been the single greatest driver of the lower Rural Commodities Index, constituting a quarter of the total Index and losing around half its value from…
