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ABARES Weekly Australian Climate, Water and Agricultural Update

Weekly Australian Climate, Water & Agricultural Update

Categories: Commodities, Weather

Summary of key issues:

  • May rainfall was generally average or above average across much of Australia.
  • Neutral El Niño Southern Oscillation conditions persist across the tropical Pacific Ocean. The Indian Ocean Dipole is negative and is likely to remain negative during winter and spring, which will increase the chances of above average rainfall over southern Australia in winter and spring.
  • There are reports of some locust damage to early sown winter crops in the eastern wheatbelt of Western Australia.
  • Water storage levels in the Murray–Darling Basin increased this week by 255 gigalitre (GL) and are at 68 per cent of total capacity.
  • The Queensland young cattle indicator price (330 – 400 kg live weight C3) increased by 3 per cent in the week ending 31 May 2013 to 283 cents a kilogram.
  • Australian beef and veal exports in May 2013 were 103 000 tonnes (shipped weight) –the highest ever monthly total.
  • Australian lamb exports in May 2013 were 20 000 tonnes (shipped weight), around 16 per cent higher than in May 2012. 
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$330 a tonne in the week ending 4 June 2013, compared with US$327 in the previous week.



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.