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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.



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 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 – A Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879