AgWatchersX EP16: Wheat Rallies, Beef Tariffs and a Sheepmeat Threat

Markets are moving, and there is plenty to unpack in this AgWatchers X update. We look at the sharp rally in global wheat markets as Black Sea supply risks finally begin to bite, with Russian export flows slowing and the ongoing Russia–Ukraine conflict putting a sizeable chunk of global wheat and barley exports at risk. We also discuss why Australian growers need to resist the temptation to chase the top of the market and instead use rallies to average up their grain sales. On top of that, weakening US and European corn prospects could provide further support to wheat prices. On livestock, we cover Australian cattle prices, the impact of Chinese and South Korean beef safeguards, and Donald Trump’s latest moves to increase beef imports into the US in an attempt to ease consumer prices. We also look at the growing threat facing Australian sheepmeat exports, with the US inquiry into imported lamb potentially opening the door to significant tariffs. With sheep prices beginning to ease ahead of the spring flush, there is plenty happening across both grain and livestock markets.