Summary of key issues:
- During the past week rainfall in excess of 15millimetres was recorded in Tasmania, most of Victoria, south-eastern South Australia, southern and north-eastern New South Wales, and the Queensland north tropical coast.
- July 2014 rainfall was generally below average for large parts of eastern Australia and part of western and central Australia and average or above average for other regions.
- Relative soil moisture levels for July 2014 are predominately average to above average across much of the southern cropping zone.
- Long-term (22-month) rainfall deficiencies have increased in Western Australia, Queensland, New South Wales, South Australia and the Northern Territory.
- Water storage levels in the Murray–Darling Basin increased by 223 gigalitres (GL) this week and are at 65 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 5 August 2014.
- The Queensland young cattle indictor price (330 – 400 kg live weight C3) averaged 338 cents a kilogram in the week ending 1 August 2014.
- The saleyard indicator price of lamb (18–22kg fat score 2–4) fell in most states in the week ending 1 August 2014.