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

Australian Weekly ABARES Report


05 December 2013

Australian Weekly ABARES Report - 5 December 2013Australian Weekly ABARES Report - 5 December 2013


The Australian Bureau of Agricultural and Resource Economics and Sciences

Summary of key issues

  • During the past week rainfall was recorded in all States and Territories, with the heaviest falls recorded across the north and east of the country.

  • Spring 2013 rainfall was well below average to severely deficient in a large part of the pastoral zone in eastern and central Australia.

  • Parts of northern New South Wales and western Queensland recorded well below average rainfall during spring for their second straight year.

  • Water storage levels in the Murray–Darling Basin decreased this week by 249 gigalitre and are at 76 per cent of total capacity.

  • The Global Dairy Trade weighted average price of skim milk powder was around US$4791 a tonne on 3 December 2013, a rise of around 4.5 per cent from mid-November. The whole milk powder price increased by around 3.4 per cent to US$5035 a tonne and the anhydrous milk fat price increased by around 2.6 per cent to US$5395 a tonne. In contrast, the cheese price declined by around 1.8 per cent to US$4501 a tonne.

  • The Queensland young cattle indicator price (330-400 kg live weight C3) increased by around 3 per cent in the week ending 29 November 2013 to 339 cents a kilogram. Young cattle prices also increased by 1 per cent in New South Wales to 338 cents a kilogram and by 5 per cent in Victoria to 337 cents a kilogram.

  • Australian beef and veal exports were 99 800 tonnes (shipped weight) in November 2013, 11 per cent higher than November 2012. Beef and veal exports to the United States and China increased while exports to Japan fell.

  • The saleyard prices of lamb increased in all states in the week ending 29 November 2013. The largest increases occurred in Tasmania and New South Wales where the indicator price (18-22kg fat score 2–4) increased by around 5.5 per cent and 4 per cent, respectively, to average 445 cents a kilogram and 403 cents a kilogram.

  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$318 a tonne in the week ending 3 December 2013, compared with US$314 a tonne in the previous week.

Climate

Notable events

  • During the past week rainfall was recorded in all States and Territories, with the heaviest falls recorded across the north and east of the country. These falls are likely to provide increased soil moisture, support pasture growth and replenish water storages in parts of northern and southern Queensland that have experienced an extended period of rainfall deficiencies.

  • November 2013 rainfall was extremely high across large parts of the tropical north of the continent, along the east coast and in eastern Tasmania. In contrast, much of southern and central Australia recorded below average rainfall during November 2013.

  • Spring 2013 rainfall was well below average to severely deficient in a large part of the pastoral zone in eastern and central Australia, these adverse conditions are likely to have placed further pressure on the quality and supply of pasture in a number of regions leading up to summer.

  • Parts of northern New South Wales and western Queensland have recorded well below average rainfall during spring for their second straight year; these conditions have extended the period of rainfall deficiencies in these regions out to 16 months in some instances. Pastures, crop prospects and water supply levels in a number of regions continue to be adversely affected by the ongoing dry conditions.

  • Early sown cotton crops in Central Highlands growing region of Queensland are reportedly well advanced and have benefited from recent rainfall. In contrast, hot and dry weather has resulted in higher demand for irrigation water from cotton growers in southern Queensland and northern New South Wales.

Rainfall this week

For the week ending 4 December 2013, rainfall was mainly recorded across northern Australia, north of a line from the Kimberly’s in Western Australia to northern New South Wales; there were also some isolated rain events recorded along the southern coastline of Australia and in western Tasmania. The highest recorded rainfall total for the week was 191 millimetres at Adelaide River post office in the Northern Territory. For further information, go to www.bom.gov.au/climate/current/weeklyrain.shtml.

Rainfall for the week ending 4 December 2013

©Commonwealth of Australia 2013, Australian Bureau of Meteorology            Issued: 4/12/2013

Commodities

Production and commodities

  • The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$318 a tonne in the week ending 3 December 2013, compared with US$314 a tonne in the previous week.

  • The world coarse grains indicator price (US No. 2 yellow corn, free on board Gulf ports) averaged US$198 a tonne for the week ending 4 December 2013, largely unchanged from the previous week.

  • The world canola indicator price (Rapeseed, Europe, free on board Hamburg) averaged US$520 a tonne in the week ending 3 December 2013, compared with US$517 a tonne in the previous week.

  • The Global Dairy Trade (GDT) weighted average price of skim milk powder was around US$4791 a tonne on 3 December 2013, a rise of around 4.5 per cent from mid-November. The whole milk powder price increased by around 3.4 per cent to US$5035 a tonne and the anhydrous milk fat price increased by around 2.6 per cent to US$5395 a tonne. In contrast, the cheese price declined by around 1.8 per cent to US$4501 a tonne.

  • The world cotton indicator price (the Cotlook ‘A’ index) averaged around US 85.2 cents a pound in the week ending 4 December 2013, largely unchanged from the previous week.

  • The world sugar indicator price (Intercontinental Exchange, nearby futures, No. 11 contract) averaged US17 cents a pound in the week ending 4 December 2013, around 2 per cent lower than the previous week.

  • According to data from China Customs, China imported a monthly record of 710 000 tonnes of sugar in October 2013. In the first 10 months of 2013, China imported 3.64 million tonnes of sugar, 8.7 per cent higher than the same period in 2012.

  • China Cotton Reserve Procurement data indicates that as at 27 November 2013, the Chinese government purchased around 2.9 million tonnes of the 2013-14 domestic cotton crop, around 18 per cent less than the same period in 2012.

  • The Australian canola indicator price (Portland, Victoria) averaged $518 a tonne in the week ending 2 December 2013, compared with $511 a tonne in the previous week.

  • There were mixed changes to the wholesale prices of selected fruit in the week ending 30 November 2013. The wholesale prices of blueberry, kiwifruit (hayward) and pineapple (smoothleaf) increased from the previous week while the prices of banana (cavendish) and watermelon (seedless) fell.

  • There wholesale prices of selected vegetables mostly increased in the week ending 30 November 2013.

  • The Queensland young cattle indicator price (330-400 kg live weight C3) increased by around 3 per cent in the week ending 29 November 2013 to 339 cents a kilogram. Young cattle prices also increased by 1 per cent in New South Wales to 338 cents a kilogram and by 5 per cent in Victoria to 337 cents a kilogram.

  • Australian beef and veal exports were 99 800 tonnes (shipped weight) in November 2013, 11 per cent higher than November 2012. Exports to the United States and China increased while exports to Japan fell.

  • The saleyard prices of lamb increased in all states in the week ending 29 November 2013. The largest increases occurred in Tasmania and New South Wales where the indicator price (18-22kg fat score 2–4) increased by around 5.5 per cent and 4 per cent, respectively, to average 445 cents a kilogram and 403 cents a kilogram. In Victoria, the indicator price increased by around 2 per cent to 389 cents a kilogram.

  • The Australian Eastern Market Indicator price for wool increased by around 1.5 per cent in the week ending 28 November 2013 to 1127 cents a kilogram clean. The total number of bales offered at sale decreased by 6.2 per cent compared with the previous week.

DOWNLOAD REPORT:- Download this report here

Share This


Related Reports

Reports By Country

Reports By Category

Our Sponsors

Partners