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Cotton production in Australia is set for a fourth successive year of high production in marketing year (MY) 2024/25, forecast at 5.5 million bales, which would be the third largest crop. The prospect of average rainfalls over the winter/spring period if realized would establish improved irrigation water availability for growers.
Australian beef supply is forecast to climb after the herd rebuild period ends. The marked slowdown in the growth of the national herd is expected to drive a higher female slaughter rate, increase the overall supply of cattle for slaughter, and boost live cattle and beef exports in 2024.
Australia’s food, beverage, and grocery sectors, contribute to a third of all business activity in the manufacturing landscape.
Australian wheat production is forecast at 20 million metric tons (MMT) for 2019/20 while barley production is forecast at 8 MMT, with some growers likely to switch to other crops, such as wheat.