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ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

Categories: Weather, Commodities

Summary of key issues:

  • During the past week, much of Australia recorded little to no rainfall.
  • The likelihood of El Niño conditions developing during 2014 remains high, with all climate models surveyed indicating El Niño is likely to occur late this year.
  • There has been an increase to general security water entitlement allocations in the Murrumbidgee Valley in New South Wales.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$336 a tonne in the week ending 22 April 2014.
  • The Australian grain sorghum indicator price (Sydney) was $345 a tonne in the week ending 23 April 2014, around 1 per cent lower than the previous week.
  • The Queensland young cattle indicator price (330 – 400 kg live weight C3) was largely unchanged in the week ending 18 April 2014 at 327 cents a kilogram.
  • The sale yard prices of lamb were generally higher in the week ending 18 April 2014 relative to the previous week.

Source: www.daff.gov.au/abares

 

Disclaimer: Whilst all care has been taken in compiling the information, the information should not be relied upon as substitute for professional advice where necessary. Rural Bank Limited accepts no responsibility for the accuracy, completeness or timeliness of the information and disclaims all liability in relation to any loss or damage suffered by the use of or reliance upon any information contained herein or in any attachment or annexure hereto by any person. Rural Bank Limited ABN 74 083 938 416 AFSL 238042.