Weekly Commodity Report

Report prepared 11 August 2017.

Wheat

$285/t (APW)

Down -7.2%

Markets are still soft after last weeks rainfall and a bearish USDA report has further added to losses with supply worries on hold for the short term.
Source: Lachstock

Barley

$240/t (feed)

Down -4.4%

The chances of further rainfall over the coming week have taken some heat out of both old and new crop markets. Lower feed grades are largely sold.
Source: Profarmer

Sorghum

$294/t

Steady

Following poor production last season, prices should start to improve towards the summer months with domestic stocks at 30% of forecast levels.
Source: Rabobank

Cotton

$516/bale

Down -0.4%

World consumption for 17/18 is forecast 375,000 bales higher and at 3.3 percent, growth in world consumption is projected at its highest rate in 5yrs.
Source: Namoi Cotton

Oilseeds

(Canola)

$537/t

Down -0.7

The market is relatively inactive, and is not attracting much exporter or trade interest. Recent rainfalls have eased some short-term production conce
Source: Lachstock

Pulses

(Chickpeas)

$750/t

Steady

A softer market this week due to subdued Indian demand. A difficult growing season and production uncertainty is resulting in little selling appetite.
Source: Agvantage

Sugar

$368/t

Down -9.9%

The short term outlook will be determined by the potential amount of speculator selling that may appear if prices continue their downward trend.
Source: QSL

Cattle

558c/kg (EYCI cwt)

Down -2.8%

Deteriorating seasonal conditions has seen prices continue to ease Supply continues to outweigh demand with the EYCI has fallen back to 2yr lows.
Source: Mecardo

Cows

200c/kg (lwt)

Down -3.8%

Despite a deteriorating season, expectations are for the female kill to remain below 10-year avg due to limited availability and low stocking rates.
Source: Meat & Livestock Australia

Lamb

609c/kg (NTLI cwt)

Up 2.9%

Recent plant closures may affect the capacity to deal with future increases in supply, potentially putting significant downward pressure on prices.
Source: Meat & Livestock Australia

Wool

1,580c/kg (Syd 21mc)

Up 2.7%

A positive opening week for auctions despite large offerings across the board, and a stronger AUD, failing to dampen strong demand from China.
Source: Australian Wool Innovation

Weather

A high pressure system over southeastern Australia is slowly moving east bringing a series of cold fronts to NSW in the later half of the week.
Source: Bureau of Meteorology