Summary of key issues:
- Rainfall in excess of 50 millimetres was recorded in the northwest of Western Australia and in parts of Tasmania.
- The three-month rainfall outlook (August to October) indicates that drier than normal conditions are more likely for northern Queensland and parts of southeast Australia.
- Water storage levels in the Murray–Darling Basin have increased by 428 gigalitres this week and are at 63 per cent of total capacity.
- The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$286 a tonne in the week ending 22 July 2014.
- The Australian grain sorghum indicator price (Sydney) was $323 a tonne in the week ending 22 July 2014, around 2 per cent lower than the previous week.
- The Queensland young cattle indictor price (330 – 400 kg live weight C3) averaged 323 cents a kilogram in the week ending 18 July 2014, around 2 per cent lower than the previous week.
- Changes in the saleyard indicator price of lamb (18–22kg fat score 2–4) were mixed across the states in the week ending 18 July 2014, compared with the previous week.