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Australian Cattle Council : Yearbook 2015
YEARBOOK2015 CATTLE COUNCIL OF AUSTRALIA 46 NAB Agribusiness Report According to National Australia Bank (NAB) Agribusiness, 2015-16 is set to be a standout year for the beef industry. The NAB Agribusiness team use their local and industry knowledge to understand the unique economical needs of farmers and agribusiness, which means they are in the best position to help customers take advantage of opportunities. We take our role supporting the industry seriously, and have more than 550 specialist bankers located across Australia who understand the dynamics of the different agricultural sectors. I encourage customers to work closely with their local banker who will tailor banking solutions, tools and advice that are right for individual circumstances. This may include better managing cash flow, maximising growth or mitigating external risks. Agribusiness View provides the latest insights from NAB Agribusiness. Visit nab.com.au/agriview to sign up as well as to find the contact details for your nearest NAB Agribusiness Manager. About NAB Agribusiness: National Australia Bank (NAB) Agribusiness is Australia’s leading Agribusiness Bank and has been supporting Australian farmers for more than 155 years. NAB employs more than 550 agribusiness banking specialists in 110 metropolitan and regional locations Australia-wide. With their local and industry knowledge, our Agribusiness team understand the unique financial and environmental needs of farmers and businesses beyond the farm gate – whether they provide inputs into agriculture or process, distribute or market primary produce. NAB also has a specialist Agribusiness Asia Desk to help Australian farmers make the most of the rapid growth in demand for high quality produce in Asia. We deliver a flexible range of agribusiness products and services by listening to and working with our customers, to tailor the best packages and advice for their businesses. For further information please visit www.nab.com.au/agribusiness. KHAN HORNE NAB Agribusiness General Manager The continuing weakness of the Australian currency is adding to the factors working in the favour of producers and means valuable support for local prices well into 2016. The Australian dollar’s (AUD) downward trend accelerated in August and September 2015 with the People’s Bank of China’s devaluation of the Yuan, combined with risks to the growth outlook in China. NAB Agribusiness revised its AUD forecast lower in August 2015 to bottom out in the first quarter of 2016 at 68 US cents (previously 71 US cents). Falling local cattle numbers, strong re-stocker demand, insatiable demand from the United States for Australian beef along with steady demand from our other major markets in Asia, have combined to see cattle markets reaching record breaking highs. NAB Agribusiness forecasts Australian cattle prices to average 40 per cent higher in 2015-16 compared to the previous year on the back of supply and demand factors working in the favour of beef producers. Weekly cattle slaughter numbers are still sitting at historically high levels but starting to decline, and there are signs this decline is likely to continue throughout the remainder of 2015 owing to a shortage of stock. While the ongoing drought has created challenging conditions for some of our northern producers, NAB remains committed to supporting customers through the more volatile times. A decent wet season should increase re-stocker confidence and see producers rebuild their herds. Looking ahead, our outlook for the industry is strong, underpinned by solid global fundamentals and strong beef prices in the year ahead. NAB Agribusiness is Australia’s largest lender to agricultural businesses and has been supporting Australian farmers for more than 155 years.