Weekly Commodity Report

Report prepared 13 October 2017.

Wheat

$324/t (APW)

Up 4.5%

Values are above export parity at the moment and appear unsustainable based on current domestic supply and demand estimates.
Source: Nidera

Barley

$250/t (feed)

Steady

Producers have been looking to capitalise on the bump in barley prices induced by dry weather, with the recent increase in supply weighing on prices.
Source: Profarmer

Sorghum

$299/t

Down -1.6%

The recent rain has improved planting prospects and new crop prices have eased. Old crop prices remain steady with only small volumes being traded.
Source: Dairy Australia

Cotton

$495/bale

Up 1.2%

The WASDE report showed global production, consumption and trade increasing slightly from the previous month, offsetting U.S production forecasts.
Source: Namoi Cotton

Oilseeds

(Canola)

$565/t

Up 0.9%

Winter conditions of the past continue to dampen expectations as crush capacity increases. NSW market to be in deficit for first time in years.
Source: Lachstock Consulting

Pulses

(Chickpeas)

$840/t

Down -2.3%

Prices have fallen due to a lack of export demand, harvest selling pressure in Cent. QLD and an increased planted area for the Sub-Continent new crop.
Source: Agvantage

Sugar

$401/t

Down -0.8%

Prices saw a slight recovery in the lead up to the Oct 17 expiry with slight weakness in the AUD/USD and hurricanes in the US supporting prices.
Source: QSL

Cattle

541c/kg (EYCI cwt)

Up 1.5%

The cattle rally continues despite a significant increase in yardings, suggesting that producers are holding back cattle in response to recent rain.
Source: Mecardo

Cows

212c/kg (lwt)

Up 4.2%

On the back of higher cattle slaughter, Australian beef offal exports lifted 5% in September, from year-ago levels – totalling 12,391 tonnes swt.
Source: Meat & Livestock Australia

Lamb

606c/kg (NTLI cwt)

Up 1.0%

Firm prices were unable to be weighed down by increased saleyard volumes but prices are likely to adjust as the spring flush gains momentum.
Source: Mecardo

Wool

1,582c/kg (Syd 21mc)

Up 0.8%

The best quality super fine wools are still selling at a premium although the price gap between best and lowest quality has narrowed considerably.
Source: Australian Wool Innovation

Weather

A generally cloudy week ahead with a trough of low pressure is generating unsettled weather over the Nth East, with a low to medium chance of rain.
Source: Bureau Of Meteorology