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ABARES Weekly Australian Climate, Water and Agricultural Updates

Weekly Australian Climate, Water and Agricultural Updates

Categories: Weather, Commodities

Summary of key issues:

  • Much of Australia has recently experienced hot, dry and gusty weather conditions. Bushfires across eastern New South Wales have burnt out significant areas of bushland, forests and some farmland.
  • During the past week heavy rainfall in excess of 25 millimetres was recorded in southern Victoria and South Australia which has reportedly delayed the start of the grain harvest in some regions.
  • The Bureau of Meteorology’s seasonal outlook suggests a higher than average chance of a hot and dry November–January 2013–14 period for north-eastern Australia.
  • Water storage levels in the Murray–Darling Basin have decreased by 144 gigalitres this week to 82 per cent of total capacity.
  • The world canola indicator price (Rapeseed, Europe, free on board Hamburg) averaged US$524 a tonne in the week ending 22 October 2013, compared with US$515 a tonne in the previous week.
  • The world sugar indicator price (Intercontinental Exchange, nearby futures, no. 11 contract) averaged US19.3 cents a pound in the week ending 23 October 2013, the highest weekly price in almost 11 months.
  • Saleyard lamb prices fell in most states in the week ending 18 October 2013. The largest fall occurred in Victoria where the indicator price (18–22kg fat score 2–4) fell by 8 per cent to average 385 cents a kilogram.

Source: www.daff.gov.au/abares

 

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 Limited 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 Limited ABN 74 083 938 416 AFSL 238042.