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ABARES Weekly Australian Climate, Water and Agricultural Update

ABARES Weekly Australian Climate, Water & Agricultural Update

Categories: Weather, Commodities

Summary of key issues: 

  • June 2013 rainfall was variable across Australia. Above average rainfall was recorded across much of southeast Australia and northern Western Australia. 
  • During June 2013 upper layer soil moisture levels have improved across the eastern Australian wheatbelt, while in Western Australia soil moisture levels have declined.
  • Water storage levels in the Murray–Darling Basin increased this week by 183 gigalitre (GL) and are at 71 per cent of total capacity.
  • Opening water allocations have been announced for a number of irrigation regions for the 2013/14 season.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$303 a tonne in the week ending 2 July 2013, compared with US$321 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 28 June 2013 to 304 cents a kilogram. 
  • Australian beef and veal exports were 88 000 tonnes (shipped weight) in June 2013,  around 8 per cent higher than in June 2012. 
  • Australian lamb exports were 17 000 tonnes (shipped weight) in June 2013, around 7 per cent higher than in June 2012. 

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.