Weekly Commodity Report

Report prepared 14 September 2018.

Wheat

$425/t (APW)

Steady

Wheat values were steady despite ABARES announcing that production forecasts for all crops have been reduced with wheat being down -2.8mmt (13%)
Source: Mercado

Barley

$400/t (feed)

Steady

Domestic demand continued to remain firm and diverge futher from international markets as dry weather and potential frost adds to supply issues
Source: AgFarm

Sorghum

$410/t

Steady

Some weaknesses seen in offshore markets found its way into local markets but a reluctance to move to the downside resulted in values moving sideways
Source: Dairy Australia

Cotton

$615/bale

Up 0.2%

Prices increased slightly as concern grew over how much damage Hurricane Florence might inflict on cotton production on the US east coast
Source: Cotton Incorporated

Oilseeds

(Canola)

$620/t

Steady

The ABARES report indicated that this year WA is set to represent 59% of the national canola crop , the highest level since 08/09
Source: Mercado

Pulses

(Chickpeas)

$600/t

Steady

The Chickpea market has been very quiet with demand reported to be significantly lower this season, coupled with low buying and selling demand
Source: AgVantage

Sugar

$355/t

Up 8.2%

Prices continued to rise this week on the back of news that Brazil's ageing cane and ongoing drought are contributing to tighter global supply
Source: QSL

Cattle

496c/kg (EYCI cwt)

Up 1.5%

This weeks gain encouraged a lift in yarding of young cattle, with the highest weekly throughput recorded in fifteen weeks noted
Source: Mercado

Cows

205c/kg (lwt)

Down -3.7%

Female slaughter made up 54% of the national slaughter in July indicating the cattle herd is in a contraction phase as the dry conditions persist
Source: MLA

Lamb

784c/kg (NTLI cwt)

Down -7.5%

Lamb prices continued to tank this week as supply ramps up, however values remain 188cwt higher than the same time last year
Source: Mercado

Wool

2,254c/kg (NTLI cwt)

Down -0.2%

As expected there was little movement this week as markets wait and see what comes of the Nanjing Wool Market conference week
Source: AWI

Weather

A weather pattern typical of a dry spring appears to be developing as temperatures in north-west inland Australia touched 40 degrees last week
Source: Weatherwatch