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ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

Categories: Beef, Sheep & lambs, Weather, Commodities

Summary of key issues:

  • During the past week, a complex low pressure system brought isolated heavy rain, cool temperatures and strong winds to southern regions of Australia.
  • June 2014 rainfall was generally average for large parts of eastern 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 increased this week by 400 gigalitre (GL) and are at 58 per cent of total capacity.
  • Opening water allocations for the 2014-15 water trading season have been announced for New South Wales, Victoria and South Australia.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$318 a tonne in the week ending 1 July 2014.
  • The Australian grain sorghum indicator price (Sydney) was $334 a tonne in the week ending 1 July 2014.
  • The Queensland young cattle indicator price (330 – 400 kg live weight C3) averaged 322 cents a kilogram in the week ending 27 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 27 June 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.