Weekly Commodity Report

Wheat

$400/t (H2)

Winter crop planting has been ramping up following rains across the east coast. Local wheat markets have firmed with higher demand from feed buyers.
Source: Ag Scientia

Barley

$315/t (feed)

Prices lifted in keeping with stronger offshore and local wheat markets. The upcoming northern hemisphere winter crop harvest will weigh on prices.
Source: Profarmer

Sorghum

$380/t

Most growers have resumed harvesting after rains across the state. Bids for downgraded sorghum have fallen, while growers are still delivering SOR1.
Source: Grain Central

Cotton

$678/bale (Cotlook 'A' Index)

US cotton futures fell, following lower crude oil prices making polyester fibre substitutes cheaper. The Cotlook A Index was down to 87.35c/lb.
Source: Nasdaq

Oilseeds

$649/t

Early season canola planting has progressed under good conditions. Higher local prices followed mixed leads from Canadian and European markets.
Source: Profarmer

Pulses

$774/t

Chickpea prices are steady with little fundamental news. Lentils have benefited from higher demand, with India taking over 50% of exports in 2022-23.
Source: Weekly Times

Sugar

$672/t

Raw sugar prices have dropped to their lowest level in over a year. Prices struggle under the weight of speculator selling and May expiry volatility.
Source: QSL

Cattle

595c/kg (EYCI)

Strong prices last week and improved weather led to higher EYCI yardings this week, at 23,747 head. The EYCI eased 30c/kg in response.
Source: MLA

Cows

203c/kg (lwt)

This was the fourth highest week for national cattle yardings this year, reaching 84,609 head. The Processor Cow Indicator was down sharply.
Source: Mecardo

Lamb

632c/kg (NTLI cwt)

The trade lamb indicator eased despite lower yardings than the previous week. Supply chain uncertainties caused processors to exit the market.
Source: MLA

Wool

1,158c/kg (EMI)

Gains across all microns and markets this week, with a smaller-than-expected offering and weaker Australian dollar supporting higher wool prices.
Source: Elders Wool

Weather

The BOM announced that El Niño has ended and the El Niño–Southern Oscillation has returned to neutral, and is expected to remain neutral until July.
Source: BOM