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ABARES Weekly Australian Climate, Water and Agricultural Updates

Categories: Commodities, Weather

Summary of key issues:

  • During the past week, rainfall was recorded in eastern Australia, southern Western Australia, coastal South Australia and Tasmania.
  • Maximum temperatures were average to below average across the entire continent during the past week.
  • The rainfall forecast for the next eight days indicates that rainfall is likely to be limited to southern regions of the continent.
  • Water storage levels in the Murray–Darling Basin have increased by 129 gigalitres this week and are at 56 per cent of total capacity.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$313 a tonne in the week ending 17 June 2014.
  • The Australian grain sorghum indicator price (Sydney) was $295 a tonne in the week ending 18 June 2014.
  • The Queensland young cattle indicator price (330 – 400 kg live weight C3) averaged 330 cents a kilogram in the week ending 13 June 2014.
  • Changes in the saleyard indicator price of lamb (18–22kg fat score 2–4) were mixed in the week ending 13 June 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.