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ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

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

Summary of key issues:

  • For the second week in a row rainfall in excess of 25 millimetres was recorded across a large part of eastern Australia.
  • March rainfall was average to extremely high across most of the eastern Australian wheat sheep belt, which is likely to lead to increased soil moisture profiles in a number of regions.
  • The rainfall forecast for the next eight days indicates there will be a broad band of rainfall from the north - east to the south - west of the country .
  • Water storage levels in the Murray – Darling Basin increased this week by 32 gigalitre (GL) and are at 52 per cent of total capacity .
  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$345 a tonne in the week ending 1 April 2014.
  • The Queensland young cattle indicator price (330 – 400 kg l ive weight C3) increased by 1.6 per cent in the week ending 28 March 2014 to 318 cents a kilogram.
  • The world sugar indicator price (In tercontinental Exchange, nearby futures, N o. 11 contract) averaged US 17.6 cents a pound in the week ending 2 April 2014.
  • The Global Dairy Trade (GDT) weighted average price of anhydrous milk fat declined by 1 1.3 per cent to US$4062 a tonne on 1 April 2014.

Source: www.daff.gov.au/abares

 

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