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ABARES Weekly Australian Climate, Water and Agricultural Updates

Weekly Australian Climate, Water & Agricultural Updates

Categories: Weather, Commodities

Summary of key issues

  • Over the past week moderate to heavy rainfall was recorded across southern Australia. This timely rainfall is likely to support increased crop and pasture growth in these regions, as we move into the warmer months of spring.
  • Daily maximum temperatures are forecast to be anomalously warm over much of central, southern and eastern Australia during the coming week, with some cropping areas likely to be experiencing temperatures of between 6 to 8 degrees Celsius above average.
  • The seasonal rainfall outlook for spring 2013 indicates that wetter than average conditions are more likely over much of south-east Australia.
  • Water storage levels in the Murray–Darling Basin have increased by 443 gigalitres this week and are at 82 per cent of total capacity.
  • 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 27 August 2013, largely unchanged from the previous week.
  • The world coarse grains indicator price (US No. 2 yellow corn, free on board Gulf ports) averaged US$266 a tonne for the week ending 28 August 2013, compared with US$250 a tonne from the previous week.
  • The world canola indicator price (Rapeseed, Europe, free on board Hamburg) averaged US$496 a tonne in the week ending 27 August 2013, compared with US$481 a tonne in the previous week.
  • The Queensland young cattle indicator price (330 – 400 kg live weight C3) fell by around 1 per cent to 313 cents a kilogram in the week ending 23 August 2013. Young cattle prices in New South Wales and South Australia fell by 4 per cent and 12 per cent respectively, to 343 cents a kilogram and 315 cents a kilogram.
  • The saleyard prices of lamb fell in most states in the week ending 23 August 2013. The largest fall occurred in Victoria where the indicator price (18–22 kilogram fat score 2–4) fell by around 11 per cent to average 419 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.