Summary of Key issues
- A series of fronts and troughs has brought storms and high winds to most of southern Australia this week, with similar conditions forecast for next week in parts of Tasmania and Victoria.
- A combination of sufficient rainfall mild winter temperature conditions and low number of frosts has reportedly improved growing conditions for crop and pasture growth in southern cropping regions across Australia.
- Recent cold and wet weather has reportedly provided ideal conditions for the spread of fungal diseases on canola cropsin south‐east Australia.
- Allocationsto high security entitlements increased in the Victorian Murray, Goulburn and Loddon catchments and opened at 33 percent in the Victorian Broken catchment.
- The world canola indicator price (Rapeseed, Europe, free on board Hamburg) averaged US$465 a tonne in the week ending 13 August 2013, compared with US$462 a tonne in the previous week. This slight increase follows a seven week period during which the price fell by around 25 per cent.
- The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$314 a tonne in the week ending 13 August 2013, compared with US$317 in the previous week.
- The Queensland young cattle indicator price (330 – 400 kg live weight C3) increased by around 9 per cent in the week ending 9 August 2013 to average 330 cents a kilogram. Young cattle prices also increased by 1 percent in both New South Wales and Victoria to average 363 cents a kilogram and 364 cents a kilogram, respectively.