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ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

Categories: Beef, Sheep & lambs, Cropping, Weather, Commodities

Summary of key issues:

  • In the week ending 15 October 2014, rainfall in excess of 15 millimetres was recorded in eastern Victoria, eastern New South Wales.
  • The rainfall recorded across New South Wales, Queensland and Victoria this week is likely to benefit crop and pasture production in a number of regions and provide some runoff into key water storages.
  • The rainfall forecast for the next eight days indicates that rainfall in excess of 15 millimetres is likely to be largely restricted to south west Western Australia and western Tasmania.
  • Water storage levels in the Murray–Darling Basin (MDB) decreased this week by 233 gigalitres (GL) and are at 65 per cent of total capacity.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$288 a tonne in the week ending 14 October 2014.
  • The Australian grain sorghum indicator price (Sydney) was $316 a tonne in the week ending 15 October 2014.
    The Queensland young cattle indictor price (330–400 kg live weight C3) averaged 374 cents a kilogram in the week ending 10 October 2014.
  • Changes in the saleyard indicator price of lamb (18–22kg fat score 2–4) were mixed across the states in the week ending 10 October 2014.

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.