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ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

Summary of key issues:

  • During the week ending 27 January 2016, rainfall was recorded in all states and territories.
  • The forecast for the next eight days indicates that rainfall is likely across all states and territories.
  • A developing monsoon trough off Australia's Northern Territory coast is forecast to deliver more typical wet season conditions for the Top End later this week.
  • The February outlook indicates rainfall is more likely to be above average in many parts of eastern Australia.
  • Water storage levels in the Murray–Darling Basin (MDB) decreased by 101 gigalitres (GL) during the week ending 28 January 2016.
  • The young cattle indicator price (330–400 kg live weight C3) averaged 617 cents a kilogram (dressed weight) in Queensland in the week ending 22 January 2016.
  • The lamb indicator price (18–22kg fat score 2–4) averaged 534 cents a kilogram (dressed weight) in Victoria in the week ending 22 January 2016.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$214 a tonne in the week ending 26 January 2016.
  • The Australian grain sorghum indicator price (Sydney) was $270 a tonne in the week ending 27 January 2016.

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.