Case study: Livestock feed demand in Australia declines

The healthy production year for Australian grains forecast for MY 2021/22 comes after a strong drought-recovery year in MY 2020/21. However, livestock feed demand in the country has declined since the rains began in early 2020. A robust wheat area Australia’s MY 2021/22 wheat production is forecast at 27 mmt, a 6.3 mmt decrease from the record-breaking MY 2020/21 crop of 33.3 mmt. This would still be 11% higher than the previous 10-year average of wheat production in the country.