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ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

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

Summary of key issues:

  • During the past week rainfall was mainly recorded across along the southern coast of Australia, across south-eastern Australia including Tasmania, and along Queensland’s east coast.
  • May 2014 rainfall was generally below average for large parts of the eastern seaboard, northern New South Wales and southern and western Queensland, while much of Western Australia and southern South Australia recorded above average rainfall.
  • Long-term rainfall deficiencies have eased slightly in Western Australia, increased in central western Victoria and remained largely unchanged in Queensland, New South Wales and South Australia.
  • The tropical Pacific Ocean remains on track for El Niño in the second half of 2014, with over half of the climate models surveyed by the Bureau of Meteorology suggesting El Niño will become established by August.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$328 a tonne in the week ending 3 June 2014.
  • The Queensland young cattle indictor price (330 – 400 kg live weight C3) averaged 309 cents a kilogram in the week ending 30 May 2014.
  • The saleyard prices of lamb fell in most states in the week ending 30 May 2014, compared with the previous week.
  • Australian beef and veal exports in May 2014 were around 108 000 tonnes (shipped weight), a record quantity exported from Australia in a single month.
  • Data from China Customs indicates that China imported 2.8 million tonnes of sugar (raw value) in the first seven months of the 2013–14 season.

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.