Weekly Commodity Report

Report prepared 3 April 2020.

Wheat

$353/t (feed)

Up 1.7%

Old crop barley improved this week following gains in the wheat market. Volatility in new crop barley has seen large price swings during the week.
Source: AWB

Barley

$353/t (feed)

Up 1.7%

Old crop barley improved this week following gains in the wheat market. Volatility in new crop barley has seen large price swings during the week.
Source: AWB

Sorghum

$431/t

Down -0.9%

With an improvement in weather conditions there are expectations there will be fewer cattle on feed, which would reduce the demand for sorghum.
Source: Grain Central

Cotton

62 US c/lb

Down -3.3%

Speculators have held a net short position on cotton, weakening spot prices. There are concerns textile mills will renegotiate or cancel orders.
Source: AgFax

Oilseeds

(Canola)

$681/t

Up 2.7%

The lower Australian dollar has increased the export competitiveness of canola. Trade talks continue between China and Canada for canola seed.
Source: Profarmer

Pulses

(Chickpeas)

$620/t

Steady

Old crop chickpea and lentil has seen higher bids in some regions, but with little trading. Rain in southern NSW has softened the new crop market.
Source: Agmark

Sugar

$393/t

Down -4.8%

COVID-19 and volatility in the oil market has increased uncertainty for sugar. Indian exports are expected to be lower with some ports shut down.
Source: QSL

Cattle

338c/kg (EYCI cwt)

Down -1.7%

Over the hook and saleyard indicators were lower again this week. Tight lotfeeder and processor margins has put downward pressure on prices.
Source: MLA

Cows

238c/kg (lwt)

Down -1.2%

Cow prices eased this week. Autumn normally sees a higher supply of cows, but producers may hold onto supply after better rainfall this year.
Source: Mecardo

Lamb

788c/kg (NTLI cwt)

Down -9.7%

East coast lamb yardings were 30% lower this week with supply normally lower at this time of year. The sharp price decline came from weak exports.
Source: Mecardo

Wool

1,465c/kg (Mel 21mc)

Down -9.6%

Wool prices fell significantly with buyers concerned about supply chain continuity due to COVID-19. Priced fell across all micron grades and markets.
Source: AWI

Weather

Almost all of NSW received rainfall this week with parts of the Central West receiving over 50mm. The IOD is expected to remain neutral over winter.
Source: BOM