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ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

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

Summary of key issues:

  • In the week ending 29 October 2014, rainfall was restricted mostly to southern Australia.
  • The November rainfall outlook suggests that drier than average conditions are more likely over much of the northern half of Australia.
  • The three-month rainfall outlook indicates that it is likely to be drier than average from November 2014 to January 2015 in northern and eastern Australia.
  • Maximum temperatures during the week ending 28 October 2014 were above average for this time of the year across much of Australia.
  • Water storage levels in the Murray–Darling Basin (MDB) decreased this week by 269 gigalitres (GL) 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$288 a tonne in the week ending 28 October 2014.
    The Australian grain sorghum indicator price (Sydney) was $300 a tonne in the week ending 29 October 2014.
  • The Queensland young cattle indictor price (330–400 kg live weight C3) averaged 357 cents a kilogram in the week ending 24 October 2014.
  • The saleyard indicator price of lamb (18–22kg fat score 2–4) fell in most states in the week ending 24 October 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.