Bendigo Agribusiness: February Insights Update

It’s been a complex start to the year for farmers who are juggling everything from extreme weather events and currency swings to global trade tensions.

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Wheat is feeling the pressure. With the harvest in, a strong Aussie dollar and a global grain surplus are keeping prices suppressed with buyers also playing it safe. Feed barley on the other hand is seeing strong demand and pricing.

In the paddocks, the cattle market is sluggish due to weak demand from processors and re-stockers. But for sheep? Tight supply is sending prices even higher.

Out in the orchards, the heat is on. The table grape harvest is well underway in the south, but the high temperatures are making it tricky for red varieties to get their deep colour. Meanwhile, almond growers are gearing up for a stellar season with rising production, great prices, and massive export demand.

Looking for an update specific to your industry? Click through to read more below.

Cattle

Producers have been hit hard by extreme weather events, causing major stock and pasture losses. Weak local demand from processors has pulled prices down, but elevated export demand is the silver lining that will provide support coming into autumn. READ MORE

Cropping

With a larger than anticipated harvest now in the bin, market attention has shifted to demand absorption and export execution. With global markets already well-supplied, the scale of the crop means export performance will be critical in determining prices in coming months.  READ MORE

Sheep

Australian lamb prices have moved higher throughout January amidst tight supply, following a challenging period for many across the country due to extreme weather. Lamb prices are expected to remain elevated until the supply of finished lambs starts to pick up.  READ MORE

Wool

After a hot start to 2026, the wool market came under pressure from a strong Aussie Dollar. Wool prices are forecast to be steady to slightly firmer over the next few weeks, with continued tighter supply to provide support, although the firmer Australian Dollar may again limit gains. READ MORE

Climate and carbon

Farmers across Australia have suffered through an incredibly tough start to 2026 with extreme heat, bushfires and floods still ongoing across several key agricultural production regions. READ MORE