Thomas Elder Markets | Daily Report
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Market Morsel: Sweeter after difficulties.
Sheep flock vs cropping area in Australia
I hear the saying regularly; there is a fight for acres. It’s a largely nonsensical comment. There is no fight between industries to get acres into a particular enterprise. It’s not the west side story with the sheep and cropping gangs fighting over the area. Individual enterprises work out the best approach with help from the industry.
Farmers are smart enough to determine the best option for their land, both from an economic and social perspective.
The first chart shows the size of the sheep flock against the cropping acreage. According to MLA projections, the sheep flock is set to regain ground back to its highest level since 2013. After years of drought, the recovery is back on. As per the latin expression ‘dulcius ex asperis’, sweeter after the difficulties.
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