Internet Banking

News

ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

Categories: Commodities, Weather

Summary of key issues:

  • During the past week, rainfall was recorded in all states and territories.
  • Following on from the prolonged heatwave event that affected south-east Australia in midJanuary, there is another pool of extreme heat forming across the region.
  • With numerous reports of decreased milk production as a result of the recent heatwave, there is likely to be ongoing issues for dairy farmers in southern Australia as temperatures again start to reach 40 degrees Celsius.
  • A cyclone watch is current for coastal Queensland from Port Douglas to Proserpine. A Tropical Low is currently moving slowly south-west towards the coast.
  • Neutral El Niño/Southern Oscillation (ENSO) conditions persist across the tropical Pacific Ocean.
  • Water storage levels in the Murray–Darling Basin have decreased by 338 gigalitres this week and are at 62 per cent of total capacity.
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$287 a tonne in the week ending 28 January 2014, largely unchanged from the previous week.
  • The Australian grain sorghum indicator price (Sydney) remained largely unchanged in the week ending 29 January 2014 at $342 a tonne.
  • The Queensland young cattle indictor price (330 – 400 kg live weight C3) fell by around 3 per cent in the week ending 24 January 2014 to 308 cents a kilogram.
  • The Australian Eastern Market Indicator price for wool rose by around 2 per cent in the week ending 23 January 2014 to average 1128 cents a kilogram clean.

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.