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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:

  • Upper and lower layer soil moisture levels across much of eastern Australia declined during October 2013 resulting from below average rainfall and well above average temperatures.
  • Scattered showers and storms brought rainfall up to 50 mm to parts of inland Queensland during the past week.
  • Heavy rainfall was recorded across southeast Australia during the past week.
  • Water storage levels in the Murray–Darling Basin have decreased by 184 gigalitres this week and remains at 81 per cent of total capacity.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$316 a tonne in the week ending 12 November 2013, compared with US$326 a tonne in the previous week.
  • The world coarse grains indicator price (US No. 2 yellow corn, free on board Gulf ports) averaged US$200 a tonne for the week ending 13 November 2013, largely unchanged from the previous week.
  • The Queensland young cattle indicator price (330 – 400 kg live weight C3) fell by around 6 per cent in the week ending 8 November 2013 to 307 cents a kilogram. Young cattle prices in New South Wales and Victoria rose by 5 per cent and 9 per cent, respectively, to 327 cents and 346 cents a kilogram.
  • Saleyard prices of lambs rose in most states in the week ending 8 November 2013. The largest increase occurred in New South Wales where the indicator price (18–22kg fat score 2–4) rose by around 6 per cent to average 414 cents a kilogram. In South Australia and Victoria, the indicator price rose by around 2 per cent and 1 per cent to average 411 cents and 385 cents a kilogram, respectively. In contrast, the indicator price fell by 1 per cent in Western Australia to 343 cents a kilogram.

Source: www.daff.gov.au/abares

 

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