Summary of key issues:
- Over the past week, rainfall in excess of 25 millimetres was recorded across large parts of eastern Australia, with the heaviest falls concentrated along the coast.
- The rainfall forecast for the next eight days indicates that widespread rainfall in excess of 25 millimetres is likely across Australia’s tropical north, the eastern seaboard, near the border of Western Australia and South Australia and in Tasmania.
- Drier than normal conditions are forecast over most of southern Queensland, north eastern New South Wales and parts of the northern Tropics during the next three months (April to June 2014).
- Water storage levels in the Murray–Darling Basin have decreased by 194 gigalitres this week and are at 52 per cent of total capacity.
- The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$351 a tonne in the week ending 25 March 2014.
- The Australian grain sorghum indicator price (Sydney) rose by around 2 per cent in the week ending 26 March 2014 to $360 a tonne.
- The saleyard prices of lamb fell in all states in the week ending 21 March 2014.
- The Queensland young cattle indictor price (330 – 400 kg live weight C3) fell by around 2 per cent in the week ending 21 March 2014 to 313 cents a kilogram.