Weekly Commodity Report

Report prepared 4 May 2018.

Wheat

$370/t (APW)

Up 1.4%

With historic highs often seen in the first week of May, domestic wheat prices and futures moved up in conjunction; global stocks still remain high
Source: Bartholomaeus

Barley

$322/t (feed)

Up 0.6%

A slight incline due to concerns of low new crop grain supplies resulting from recent weather. Competition exists with cottonseed in the feed market
Source: Ag Scientia

Sorghum

$384/t

Up 2.4%

Increase for sorghum (up 25% since January) with primary contributors being increased domestic / international demand and lower than expected yields
Source: Rabobank

Cotton

$590/bale

Down -0.2%

US 18-19 production forecast declined by 7%, global consumption projected to go up 3.9% in line with the cotton picking currently underway across NSW
Source: Namoi Cotton

Oilseeds

(Canola)

$539/t

Up 0.6%

Price remains relatively stable, increases in demand and price may occur as sharp increases in vegetable oil pricing has improved crush margins
Source: Lachstock

Pulses

(Chickpeas)

$520/t

Steady

No budge in chickpea price as domestic demand remains inconsistent; election year in India and Ramadan may shake the market in the next financial year
Source: AgVantage

Sugar

$328/t

Down -3.5%

Price continues to tumble (down 16.8% since January) with the possible lower than expected production in Centre-South Brazil slightly slowing the fall
Source: CommBank

Cattle

484c/kg (EYCI cwt)

Down -2.4%

Despite the decline in the EYCI and the continued high slaughter numbers, export demand remains buoyant with numbers 32% higher than April 2017
Source: Mecardo

Cows

$161c/kg (lwt)

Down -0.1%

Domestic cow price remains subdued as high slaughter numbers have driven price down 20% since January this year and 26% compared to May 2017
Source: DPI

Lamb

$599c/kg (NTLI cwt)

Up 0.8%

Sheepmeat remains strong as the growing price has not dampened exports with levels for lamb (32%) and mutton (31%) higher than this time last year
Source: Mecardo

Wool

2,048c/kg (Syd 21mc)

Up 4.0%

The market recovered nicely with the fleece sector seeking to replenish supplies of merino wool; lower AUD also played a part in the increased demand
Source: AWI

Weather

Winter came early after a record-warm April in NSW; rainfall remains a mystery with neither El Nino (reduced) nor La Nina (increased) apparent
Source: Weatherwatch