Summary of key issues:
- October rainfall was 51 per cent below the long-term average nationally. Tasmania was the only state to record above-average rainfall.
- Water storage levels in the Murray–Darling Basin decreased this week by 214 gigalitres (GL) and are at 81 per cent of total capacity.
- The Global Dairy Trade (GDT) weighted average price of anhydrous milk fat increased to US$5343 a tonne on 5 November 2013 compared with US$5007 a tonne on 15October 2013 and the price of cheese increased by around 1 per cent over the same period.
- Australian beef and veal exports were 104 000 tonnes (shipped weight) in October 2013, 11 per cent higher than in October 2012. Exports to the United States, China and Saudi Arabia were higher but shipments to Japan were lower.
- There were mixed movements in the saleyard prices of lamb in the week ending 1November 2013. The indicator price (18–22kg fat score 2–4) rose by around 1 per cent in Victoria and 5 per cent in South Australia to average 382 and 404 cents a kilogram, respectively. In New South Wales, the indicator price fell by 1 per cent to 390 cents a kilogram.
- The world wheat indicator price (US no. 2 hard red winter, free on board Gulf ports) averaged US$326 a tonne in the week ending 5 November 2013, compared with US$334 a tonne in the previous week.
- According to the International Cotton Advisory Committee, as at 31 October 2013, the Chinese government had purchased 1.1 million tonnes of the 2013–14 Chinese cotton crop for the Chinese national reserve, 44 per cent less than the quantity of the 2012–13 crop purchased by the same date last year.