Weekly Commodity Report

Report prepared 9 November 2018.

Wheat

$445/t (APW)

Steady

Drought and frost have led to the poorest crop in over a decade. Demand from domestic feeders is expected to decrease the importance of grade spread
Source: Mercado

Barley

$430/t (feed)

Steady

Early reports from the NSW harvest are suggesting there will be some issues with quality as lower test weights are recorded at receival sites
Source: AWB

Sorghum

$415/t

Steady

Sorghum values remained stable in the past week as the October rains fade to memory and the post rain farmer selling dries up
Source: Ag Scentia

Cotton

$595/bale

Down -0.7%

The US cotton market is mid-harvest and early reports are suggesting it will be the second biggest crop in a decade despite recent hurricanes
Source: Rabobank

Oilseeds

(Canola)

$655/t

Down -1.5%

Canola markets have lost some value in the past week; there has been some old crop sales as growers get ready to bring in the new crop
Source: AgFarm

Pulses

(Chickpeas)

$700/t

Up 16.7%

Chickpea values spiked this week to its highest value all year on the back of renewed interest from Pakistan, Bangladesh and parts of the Middle East
Source: AgVantage

Sugar

$387/t

Down -4.9%

Sugar continued its fall from the highs of mid-october as the market remains wary of improved Brazilian production next year
Source: QSL

Cattle

519c/kg (EYCI cwt)

Down -3.1%

The EYCI has come off the boil this week after a fall in yardings. The market appears to be waiting for more rain which can sustain a price rise
Source: Mercado

Cows

199c/kg (lwt)

Down -2.5%

Medium cow values fell towards the end of the week as east coast cattle slaughter fell to its lowest full week level since March
Source: Mercado

Lamb

289c/kg (NTLI cwt)

Down -6.4%

The surge of new season lambs entering Victorian saleyards over the last two weeks has seen prices inversely affected, falling for all categories
Source: MLA

Wool

289c/kg (NTLI cwt)

Down -3.6%

Growth in the Chinese manufacturing sector has slowed dramatically since the start of the trade war leading to less purchasing of Aussie wool
Source: AWI

Weather

Hot air continues to build over northern and north-western Australia which will lead to above average temperatures across the south eastern states
Source: Weatherwatch