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Rural prices up in March
4 Apr 2003
The Westpac-National Farmers' Federation index rose 0.8 per cent in March on the back of strong beef prices, with reasonable rains and a small depreciation in the $AUD against the $US also lifting prices.
Beef prices pushed the index up, rising 9 per cent to average $3.18 a kilogram. Canola prices also rose, by 0.7 per cent. But all other sectors decreased: wheat was down 8.9 per cent, wool was down 1.2 per cent and sugar fell 6.6 per cent.
The NFF's Charles Burke said that despite recent rains there's still a lot of concern about the future of rural prices. He said the drought has not really broken, as over much of eastern Australia rainfall levels have been at or below average in the past month, although weather forecasts are still positive.
Tradingroom.com.au, 3/4/03.
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