Weekly Commodity Report

Report prepared 15 December 2017.

Wheat

$267/t (APW)

Down -3.6%

Wheat prices have little upside, with cash prices high on most measures. Recent rain may have helped to re-balance feed, mill and export demand.
Source: Bartholomaeus Consulting

Barley

$239/t (feed)

Down -2.0%

Rain induced downgrades have shifted focus of feed markets away from competing for high protein grades, to lower quality feed grades & lowering prices
Source: AWB

Sorghum

$304/t

Steady

Recent rain has been beneficial for sorghum which is off to an excellent start. Follow up rain will be needed in January to maintain yield potential.
Source: Ag Scientia

Cotton

$545/bale

Up 1.1%

Cotton prices peaked close to contract highs, with spec long interest increasing, strong US export sales and low contract cancellations from China.
Source: Namoi Cotton

Oilseeds

(Canola)

$565/t

Down -0.2%

Canadian canola futures are being supported by a high oil content harvest, meaning oil yield will be up compared to other crops & supporting basis.
Source: Grainews

Pulses

(Chickpeas)

$700/t

Steady

Russia & the EU pulse production soared in 2017 with output up between 27 and 70% respectively. Local prices are reflecting competitive global supply.
Source: Agrimoney

Sugar

$396/t

Down -5.4%

Little fundamental news this week, as speculators appear to be pushing the market lower. Trading is expected to be light over the festive season
Source: QSL

Cattle

570c/kg (EYCI cwt)

Down -1.4%

Strong finish to 2017 prices failed to offset losses mid year as dry conditions hit. Rainfall has left restockers at a premium to processors & feeders
Source: MLA

Cows

209c/kg (lwt)

Down -3.9%

Finished cattle eased on holiday plant closures, full kill sheets & a softer US imported beef market. Local to US price ratio is now close to average.
Source: MLA

Lamb

659c/kg (NTLI cwt)

Up 4.1%

Record lamb yardings did little to curtail prices, the ESTLI posting a 6 month high. Rainfall has increased trade lamb and reduced processor activity.
Source: Mecardo

Wool

1,740c/kg (Syd 21mc)

Up 4.9%

The wool market went from strength to strength, with the EMI busting through the 1700c mark to new highs on strong demand in the last week of auctions
Source: AWI

Weather

The developing monsoon in Nth of Australia have retreated, resulting in a heat wave conditions reaching the southern states & expected until next week
Source: Bureau Of Meteorology