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ABARES Weekly Australian Climate, Water and Agricultural Updates

ABARES Weekly Australian Climate, Water and Agricultural Updates

Categories: Weather, Commodities

Summary of key issues:

  • During the past week rainfall was mainly restricted to far south of Australia and the eastern and north-western coastline.
  • There are numerous reports that frost events which have occurred during October 2013, has damaged some cereal crops in central and southern New South Wales. 
  • Water storage levels in the Murray–Darling Basin have decreased by 148 gigalitres this week and remains 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$334 a tonne in the week ending 29 October 2013, compared with US$332 in the previous week.
  • The Australian feed wheat indicator price (general purpose, Sydney) rose by around 16 per cent in the week ending 30 October 2013 to $320 a tonne.
  • TheQueensland young cattle indicator price (330 – 400 kg live weight C3) increased by around 5 per cent to 328 cents a kilogram in the week ending 25 October 2013. 
  • The world cotton indicator price (the Cotlook ‘A’ index) averaged US86.2 cents a pound in the week ending 30 October 2013, the lowest average weekly price in more than 9months.

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 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