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ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

Categories: Beef, Sheep & lambs, Dairy, Cropping, Weather, Commodities

Summary of key issues:

  • In the week ending 1 October 2014, rainfall was recorded across parts of southern and eastern Australia.
  • Maximum temperatures were above average across a large part of Australia during the week ending 30 September 2014.
  • September 2014 rainfall was above average across parts of eastern Queensland, north western New South Wales and adjacent areas of South Australia and southern and coastal Western Australia.
  • General security allocations have increased in New South Wales for the Murray and Murrumbidgee Valleys.
  • Water storage levels in the Murray–Darling Basin (MDB) decreased this week by 71 gigalitres (GL) and are at 67 per cent of total capacity.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$280 a tonne in the week ending 30 September 2014.
    The Australian grain sorghum indicator price (Sydney) rose by around 3 per cent in the week ending 24 September 2014 to $329 a tonne.
  • The Queensland young cattle indicator price (330 – 400 kg live weight C3) averaged 376 cents a kilogram in the week ending 19 September 2014.
  • The Australian grain sorghum indicator price (Sydney) fell by 1 per cent in the week ending 1 October 2014 to $326 a tonne.
  • The world sugar indicator price (Intercontinental Exchange, nearby futures, no. 11 contract) averaged US15 cents a pound in the week ending 1 October 2014.
  • The Global Dairy Trade (GDT) weighted average price of skim milk powder declined by 3 per cent to US$2540 a tonne on 1 October 2014.
  • The saleyard indicator price of lamb (18–22kg fat score 2–4) rose in most states in the week ending 26 September 2014.

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.