Rising cattle prices, now around 60 percent higher than their October lows, have underpinned a strong rise in NAB’s Rural Commodities Index.
NAB reported today that its index increased 2.2 percent month-on-month in January, and is now back up around levels last seen in May 2023
In addition to Australian cattle, prices for lamb and dairy have also recorded gains, while prices for winter crops fell, weighed on by high global supply and weak demand.
NAB Group Economics, Associate Director, Lea Jurkovic, said cattle prices rose on the back of above-average rainfall at the end of 2023 and…
