Summary of key issues:
- During the past week, rainfall in excess of 15 millimetres was recorded across much of Tasmania, south-west Western Australia, southern districts of South Australia, southern and alpine regions of Victoria, and for a small part of southern New South Wales and the tropical east coast of Queensland.
- Across the Western Australian wheatbelt, falls of up to 50 millimetres were recorded in the southern and central cropping districts.
- Long-term 21-month rainfall deficiencies have eased slightly in central and western Victoria, but have increased in Western Australia, Queensland, New South Wales, South Australia and the Northern Territory compared to the previous drought statement released by the Bureau of Meteorology.
- Water storage levels in the Murray–Darling Basin have increased by 324 gigalitres this week and are at 59 per cent of total capacity.
- The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$309 a tonne in the week ending 8 July 2014, compared with US$318 in the previous week.
- The Australian grain sorghum indicator price (Sydney) was $336 a tonne in the week ending 9 July 2014, around 1 per cent higher than the previous week.
- The Queensland young cattle indictor price (330 – 400 kg live weight C3) averaged 340 cents a kilogram in the week ending 4 July 2014.
- Changes in the saleyard indicator price of lamb (18–22kg fat score 2–4) were mixed across the states in the week ending 4 July 2014.