Weekly Commodity Report

Report prepared 9 August 2019.

Wheat

$343/t (H2)

Steady

Russian farmers seem to be waiting for price premiums before selling into the global market allowing Australia to find business into the Philippines
Source: AWB

Barley

$353/t (feed)

Steady

Demand for old crop barley remains strong as the domestic feed sector continue to buy; the new crop market remains subdued amid poor crop outlook
Source: Ag Scientia

Sorghum

$335/t

Steady

Flooding in Queensland in December has seen farmers diversify from cane to higher value crops that are not common for the area such as sorghum
Source: Agfarm

Cotton

$536/bale

Up 0.2%

The US China trade war continues to negatively affect the international cotton market; Australian basis has strengthened for known quality
Source: Rain Agribusiness

Oilseeds

(Canola)

$593/t

Up 1%

The Australian Oilseeds Federation forecast the national canola crop production at 2.4 Mt up from 2.3Mt in 2018 with NSW estimated to produce 429,000t
Source: Grain Central

Pulses

(Chickpeas)

$560/t

Steady

Old crop grade spreads have narrowed to $40/mt as quality averages out with indications that buyers are using peas for flour production and splitting
Source: Rain Agribusiness

Sugar

$389/t

Up 3.5%

Seasonal conditions have seen reduced cane crushed in Brazil as rain diminished crush pace and frost damaged an estimated 400,000ha of cane in July
Source: QSL

Cattle

533c/kg (EYCI cwt)

Up 0.2%

Prices reached a high of 534c/kg as feedlot buyers continue to pay premiums for good stock and rainfall in some areas has rejuvenated restocker demand
Source: MLA

Cows

230c/kg (lwt)

Down -1.5%

NSW cow prices tapered off after peaking at 237c/kg last week with a couple of key buyers absent, but are still 9c/kg above national cow prices
Source: MLA, Beef Central

Lamb

873c/kg (NTLI cwt)

Down -5.5%

Prices have fallen by 5.5% as the market awaits the arrival of new season lambs and processor demand is expected to drive up prices again
Source: MLA

Wool

2,037c/kg (Mel 21mc)

Winter recess. Price as at 12 July 2019.
Source: 0

Weather

Most of NSW received less than half of its average rainfall in July as persistent dry weather exacerbates the drought with no rain on the radar
Source: The Land