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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.



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 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 – A Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879