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ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

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

Summary of key issues:

  • In the week ending 7 January 2015, rainfall was recorded across large areas of northern and eastern Australia.
  • December 2014 rainfall was average to well above average across much Australia.
  • Above average December rainfall across much of northern and eastern Australia has led to a decline in the area of severe rainfall deficiencies in New South Wales, Queensland and the Northern Territory.
  • Rainfall deficiencies for the 27-month period (1 October 2012 to 31 December 2014) remain in an area spanning much of Queensland, smaller areas in the Northern Territory, northern New South Wales, South Australia and western Victoria.
  • Water storage levels in the Murray–Darling Basin (MDB) decreased this week by 293 gigalitres (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$277 a tonne in the week ending 6 January 2015.
    The Global Dairy Trade (GDT) weighted average price of anhydrous milk fat was US$4493 a tonne on 6 January 2015.
  • The wholesale prices of selected fruit generally fell in the week ending 3 January 2015, compared with the week ending 13 December 2014.
  • Australian grain and livestock indicator prices are not available this week due to market closures over the Christmas and New Year period.



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