Weekly Commodity Report

Report prepared 15 January 2021.

Wheat

$304/t (H2)

Up 1.3%

The final harvest update from GrainCorp showed NSW receivals at 8,363,800 tonnes, but noted that some southern growers were still delivering grain.
Source: GrainCorp

Barley

$231/t (feed)

Up 3.6%

Barley prices firmed this week. Queensland cattle on feed numbers are reportedly still high and feedlots have been paying above the market for grain.
Source: Grain Central

Sorghum

$293/t

Up 1%

Sorghum crops in northern NSW are expected to get higher than average yields this year, but will be limited by increased areas planted to cotton.
Source: Ag Scientia

Cotton

$564/bale

Up 1.8%

World cotton prices increased ahead of the U.S. holiday with a lower production forecast. The Cotlook 'A' Index reached 87.35 US cents per lb.
Source: Agfax

Oilseeds

(Canola)

$620/t

Up 2.5%

Canola prices have climbed with a rally in overseas oilseed markets. Firm international demand is expected to support prices in the short term.
Source: Profarmer

Pulses

(Chickpeas)

$488/t

Down -3%

Chickpea markets had little activity over the holidays. Desi chickpeas at Wagga Wagga are down to $488 per tonne.
Source: Profarmer

Sugar

$445/t

Down -1.6%

It was another volatile week in sugar with prices starting the new year strongly higher and trading above 16 US c/lb for the first time since 2017.
Source: QSL

Cattle

842c/kg (EYCI)

Up 10.9%

The EYCI rose 40 cents above pre-Christmas levels in the first week of major sales as stellar results for weaner cattle crossed into the prime market.
Source: Weekly Times

Cows

290c/kg (lwt)

8.7%

NSW east coast cattle slaughter is 35% under the five-year average and 43% below the levels seen at the start of 2020 as herd rebuilding continues.
Source: Thomas Elder Markets

Lamb

828c/kg (NTLI cwt)

Down -6.8%

The ESTLI opened the week at 873¢/kg, but ended sharply lower. Domestic consumption is high with approx. 40% of production remaining in Australia.
Source: Mecardo

Wool

1,162c/kg (Mel 21mc)

Down -1.6%

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Source: Thomas Elder Markets

Weather

The Rainfall Index across NSW improved with moderate to high probabilities of above median rainfall predicted across NSW for the next three months.
Source: NSW DPI