Internet Banking

News

ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

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

Summary of key issues:

  • In the week ending 22 October 2014, rainfall in excess of 15 millimetres was mainly restricted to Western Australia, western Tasmania and isolated areas along Australia’s east coast.
  • Severe thunderstorm activity was recorded across much of southern Western Australia this week bringing strong winds, large hail and heavy rain.
  • While most ocean and atmospheric indicators, as well as Australian rainfall patterns, continue to show some El Niño-like patterns, El Niño–Southern Oscillation (ENSO) indicators continue to remain below El Niño thresholds.
  • Water storage levels in the Murray–Darling Basin (MDB) decreased this week by 216 gigalitres (GL) and are at 64 per cent of total capacity.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$290 a tonne in the week ending 21 October 2014.
  • The Australian grain sorghum indicator price (Sydney) was $295 a tonne in the week ending 22 October 2014, around 7 per cent lower than the previous week.
    The Queensland young cattle indictor price (330–400 kg live weight C3) averaged 363 cents a kilogram in the week ending 17 October 2014.
  • The saleyard indicator price of lamb (18–22 kg fat score 2–4) fell in most states in the week ending 17 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.