The knock-on effects for agriculture of Queensland's floods will extend from "highly competitive" agriculture markets, and further strength in livestock prices, to changes in pesticide use, Elders said, as farmers counted the cost of fresh inundations.
The Australian rural services group, which acknowledged its own operations in Queensland were being "significantly impacted" by the flooding, said the disaster would spark outcomes for farmers from a lift in demand for animal health products to changes in farm spraying patterns.
Although crop losses would prompt some growers to shelve agrichemicals plans, in other cases farmers would raise their use of weed control applications.
Meanwhile, producers would see "highly competitive markets for available trade", as "total loss of summer crops", such as cotton and sorghum, in some areas followed on from a poor-quality grains harvest.
Cattle prices soar
Elders singled out livestock markets as set for "strong prices, as markets deal with an excess of demand over available supply".
Besides the short-term impact of the floods in stopping the movement of animals, many analysts have predicted that the good pasture conditions which will follow the floods could spark a restocking drive.
Cattle prices are already at their highest for five years, with the Australia's benchmark index, the Eastern Young Cattle Indicator this week topping Aus$3.995 a kilogramme, carcass weight.
Even last month, before the Queensland flooding gathered momentum, analysts reported heavy rains in eastern Australia denting livestock supplies by disrupting transport of animals to market, while boosting demand by whetting farmers' appetite for herd expansion.
And the prospect of disruption to Australia's cattle exports has boosted prices in other shipping countries, with Chicago live cattle setting a record, for a spot contract, of 110.225 cents a pound on Wednesday, a rise of 1.1%.
Iowa-based broker US Commodities said: "The continued flooding in Australia gives the belief that beef exports may increase.
"The fear is that Asian countries could turn to the US or elsewhere to meet growing demand for beef."
'Flood waters rebuilding'
The comments came as farmers grappled with a fresh flooding surge, which has inundated an estimated 20,000 homes in Brisbane, Australia's third-largest city.
"Flood waters in agricultural regions of the Darling Downs are rebuilding and are likely to re-affect cotton crops that were submerged just a few weeks ago," Luke Mathews, at Commonwealth Bank of Australia, said, predicting "further yield penalties".
Elders said that that while the floods had "interrupted" trading in Queensland, it was too early to determine the "net financial impact of the flooding?or whether the floods will hold significance for the full-year profit".
The group added: "It is considered that the greater share of the disrupted trade to date represents a deferral of sales activity which will resume once circumstances permit.
Elders shares closed down 3.8% at Aus$0.505 in Sydney, taking their losses so far this year to 13.7%.
