Summary of key issues
- Harvesting of winter crops has commenced in Queensland. Initial indications are that dry conditions, frosts and heat waves may result in lower harvest volumes than last season.
- The seasonal rainfall outlook for October to December 2013 indicates that dryer than average conditions are more likely over much of southern and central Queensland, central parts of Northern Territory and far north New South Wales.
- Water storage levels in the Murray–Darling Basin have increased by 184 gigalitres this week to 84 per cent of total capacity.
- The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$312 a tonne in the week ending 24 September 2013, compared with US$309 in the previous week.
- The world coarse grains indicator price (US no. 2 yellow corn, free on board Gulf ports) averaged US$203 a tonne for the week ending 25 September 2013, compared with US$208 a tonne in the previous week.
- The world canola indicator price (Rapeseed, Europe, free on board Hamburg) averaged US$497 a tonne in the week ending 24 September 2013, compared with US$495 a tonne in the previous week.
- The world sugar indicator price (Intercontinental Exchange, nearby futures, no. 11 contract) averaged US17.3 cents a pound in the week ending 25 September 2013, around 1.7 per cent higher than in the previous week.
- The Queensland young cattle indicator price (330 – 400 kg live weight C3) increased by around 7 per cent in the week ending 20 September 2013 to 306 cents a kilogram. Young cattle prices also increased by 4 per cent in New South Wales to 361 cents a kilogram, and by 8 per cent in Victoria to 375 cents a kilogram.
- Saleyard lamb prices rose in most states in the week ending 20 September 2013. The largest increase occurred in New South Wales where the indicator price (18–22kg fat score 2–4) rose by around 8 per cent to average 471 cents a kilogram.