Summary of key issues:
- During the past week, a cold front brought isolated heavy rain and destructive winds to southern regions of Australia.
- The rainfall forecast for the next eight days indicates that rainfall in excess of five millimetres will be restricted to southern, south-west and south-east regions of the country.
- Water storage levels in the Murray–Darling Basin have increased by 147 gigalitres this week and are at 56 per cent of total capacity.
- The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$317 a tonne in the week ending 24 June 2014.
- The Australian grain sorghum indicator price (Sydney) was $325 a tonne in the week ending 25 June 2014, around 10 per cent higher than the previous week.
- The Queensland young cattle indictor price (330 – 400 kg live weight C3) averaged 327 cents a kilogram in the week ending 20 June 2014.
- Changes in the saleyard indicator price of lamb (18–22kg fat score 2–4) were mixed across the states in the week ending 20 June 2014, compared with the previous week.