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Grain prices down, dairy & beef up
18 Nov 2008
The Westpac-National Farmers Federation commodity price index fell by 1.3 per cent last month. The index is now 2.6 per cent below the level of one year ago. Canola and barley fell 9.2 per cent, wool lost 8 per cent, wheat was down 5.9 per cent and cotton was also down by 1.8 per cent. Dairy prices rose 7.6 per cent, as did sugar (4.1 per cent) and beef (3.3 per cent). "The weakening Australian dollar prevented what could have been an extreme month for global agricultural commodities," said Westpac''s senior agribusiness economist, Andrew Hanlan. The National Farmers federation said the winter harvest was looking solid in northern NSW, Queensland and Western Australia, but poor in southern NSW, Victoria and South Australia.
Source: The Age 18/11/08
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