TheCropSite.com- news, features, articles and disease information for the crop industry

Australian Weekly ABARES Report


11 April 2013

Australian Weekly ABARES Report - 11 April 2013Australian Weekly ABARES Report - 11 April 2013


The Australian Bureau of Agricultural and Resource Economics and Sciences

Summary of Key Issues

  • Heavy rainfall over the Western Australian cropping zone during March is encouraging grain producer to plant crop earlier than normal to take advantage of the close to ideal planting conditions.
  • Soil moisture levels remain low in western Victoria and South Australia as the warm, dry conditions persist.
  • El Niño–Southern Oscillation (ENSO) indicators across the tropical Pacific Ocean remain at neutral levels. It is likely that this neutral state will continue into the southern hemisphere winter.
  • Water storage levels in the Murray–Darling Basin have increased by 209 gigalitres this week and are at 67 per cent of total capacity.
  • The world wheat indicator price (US no. 2 hard red winter, free on board Gulf ports) averaged US$320 a tonne in the week ending 9 April 2013, compared with US$318 a tonne in the previous week.
  • The world sugar indicator price (Intercontinental Exchange, nearby futures, no. 11 contract) averaged US17.7 cents a pound in the week ending 10 April 2013, largely unchanged from the previous week.
  • In the eight months to February 2013, Australian exports of butter, skim milk powder and cheese, in volume terms, increased by 36 per cent, 33 per cent and 6 per cent, respectively, compared to the same period last year. In contrast, exports of whole milk powder fell by 17 per cent over the same period.
  • Australian beef and veal production in February 2013 was 188 000 tonnes (carcass weight equivalent), 3 per cent higher than in February 2013.

Climate

Notable Events

  • Western Australian grain producers are taking advantage of the close to ideal planting conditions and beginning their seeding programs earlier than normal, after heavy rainfall over much of the cropping zone during March 2013 has led to the filling up of soil moisture profiles.
  • Long-term warm and dry conditions over western Victoria and South Australia (Bureau of Meteorology ‘Drought Statement’, 4 April 2013, see section 1.4 below) have resulted in lower than normal soil moisture levels. In those areas which have experienced dry seasonal condition, producers will be highly reliant on rainfall over the coming months to assist sowing, germination and establishment of winter crops.
  • Dry seasonal conditions in central Australia have led to reduced water and feed availability for stock in many areas. Cattle yards and feedlots are reporting increased throughput as producers attempt to reduce heard numbers that have built up in recent years.
  • Much of southern and central Australia has recorded unseasonal warm daytime temperatures during the past week, particularly across southwest Western Australia where temperatures have exceeded the average by six to ten degrees. Perth has experienced its hottest April weather on record, while Hobart has recorded fifteen consecutive months of above average temperatures.
  • El Niño–Southern Oscillation (ENSO) indicators across the tropical Pacific Ocean remain at neutral levels. It is likely that this neutral state will continue for the remainder of the southern hemisphere autumn and into early winter. The Bureau of Meteorology notes that warm waters around much of Australia may promote increased localised rainfall when coupled with favourable local weather conditions (Bureau of Meteorology ENSO ‘Wrap-up’, 9 April 2013).

Rainfall this week

For the week ending 10 April 2013, heavy falls were recorded across northern Australia and the Queensland/New South Wales coastline. It was generally dry across the rest of the continent though isolated, heavy falls were recorded in southern Tasmania, alpine Victoria and South Australia. The highest rainfall total for the week was 305 millimetres at Tree House Creek, south of Cairns in Queensland. For further information, go to www.bom.gov.au/climate/current/weeklyrain.shtml.

Rainfall for the Week Ending 10 April 2013

©Commonwealth of Australia 2013, Australia Bureau of Meteorology
Issued: 10/04/2013

Commodities

Production and Commodities

  • The world wheat indicator price (US no. 2 hard red winter, free on board Gulf ports) averaged US$320 a tonne in the week ending 9 April 2013, compared with US$318 a tonne in the previous week.
  • The world coarse grains indicator price (US no. 2 yellow corn, free on board Gulf ports) averaged US$275 a tonne for the week ending 10 April 2013, compared with US$282 a tonne in the previous week.
  • The world canola indicator price (Rapeseed, Europe, free on board Hamburg) averaged US$628 a tonne in the week ending 9 April 2013, compared with US$622 a tonne in the previous week.
  • The Australian canola indicator price (Portland, Victoria) averaged $551 a tonne in the week ending 10 April 2013, compared with $560 a tonne in the previous week.
  • The world cotton indicator price (the Cotlook ‘A’ index) averaged US 93.6 cents a pound in the week ending 10 April 2013, 1 per cent lower than in the previous week.
  • According to the China Cotton Association’s statistics, as at 25 March 2013, the government had purchased around 94 per cent of the 2012–13 season’s production. These purchases added 6.46 million tonnes of cotton to the national reserve, of which 1.4 million tonnes was released to the market through auction.
  • The world sugar indicator price (Intercontinental Exchange, nearby futures, no. 11 contract) averaged US17.7 cents a pound in the week ending 10 April 2013, largely unchanged from the previous week.
  • Brazil’s Trade Ministry data shows Brazilian exports reached 27.25 million tonnes of sugar (raw value) in the 2012–13 season (April/March). While 2012–13 exports were 8.4 per cent higher than 2011–12, they were around 3 per cent below the record 28.05 million tonnes exported in 2010–11.
  • In the eight months to February 2013, Australian exports of butter, skim milk powder and cheese, in volume terms, increased by 36 per cent, 33 per cent and 6 per cent, respectively, compared to the same period last year. In contrast, exports of whole milk powder fell by 17 per cent over the same period.
  • The changes to wholesale prices of fruit were mixed in the week ending 6 April 2013. Wholesale prices of blueberry and strawberry were higher, while apple (royal gala) and banana (cavendish) were lower than the previous week.
  • The changes to wholesale prices of vegetables were mixed in the week ending 6 April 2013. Wholesale prices of bean (round) and cauliflower were higher, while broccoli, iceberg lettuce and tomatoes (field gourmet) were lower than the previous week.
  • The Queensland young cattle indicator price (330 – 400 kg live weight C3) fell by 3 per cent in the week ending 5 April 2013 to 311 cents a kilogram.
  • Australian beef and veal production in February 2013 was 188 000 tonnes (carcass weight equivalent), 3 per cent higher than in February 2012.
  • Saleyard lamb prices were mixed in the week ending 5 April 2013. The indicator price (18–22kg fat score 2–4) declined by 6 per cent in New South Wales and 4 per cent in South Australia to average 427 cents and 389 cents a kilogram, respectively. In contrast, the indicator price rose by around 1 per cent each in Victoria and Western Australia to average 434 cents and 347 cents a kilogram, respectively.

DOWNLOAD REPORT:- Download this report here

Share This


Related Reports

Reports By Country

Reports By Category

Our Sponsors

Partners