Summary of key issues:
- Parts of western Victoria received between 15 and 50 millimetres of rainfall during the past week, providing improved conditions for grain growers following recent dry conditions. Southeast NSW, northeast Victoria, Tasmania and the southeast coast of South Australia also received moderate to heavy rainfall during the week.
- The seasonal rainfall outlook for August to October 2013 indicates that wetter than average conditions are more likely over much of mainland Australia.
- The world wheat indicator price (US no. 2 hard red winter, free on board Gulf ports) averaged US$314 a tonne in the week ending 23 July 2013, largely unchanged from the previous week.
- Saleyard lamb prices rose in all states in the week ending 19 July 2013.
- The Queensland young cattle indicator price (330-400 kg live weight C3) fell by around 2 per cent in the week ending 19 July 2013 to 312 cents a kilogram. However, the young cattle price increased by 4 per cent in New South Wales to 359 cents a kilogram and by 1 per cent in Victoria to 363 cents a kilogram.