Weekly Commodity Report

Report prepared 26 May 2023.


$420/t (H2)


Prices continue to drift sideways with domestic markets remaining covered for the near-term and global demand relatively satisfied.
Source: Profarmer


$311/t (feed)

Up 1.6%

Export demand is waning as cheap Black Sea barley and record Brazilian soybean and corn production are available for feed stocks.
Source: Profarmer



Down -4.8%

For the first time since Oct, sorghum is trading well below wheat to a level sufficient to spark interest from the pig and poultry sectors.
Source: GrainCentral




Demand appears to be shrinking with another COVID wave on the horizon for China and the positive news surround US crop production getting louder.
Source: RainAg




Up 3.9%

Canola bids on current and new crop lifted but liquidity remains quiet.
Source: Lachstock




Steady 0.0%

Plans to update and expand the interim FTA between India and Australia could potentially lead to a reopening of Australia’s largest chickpea market.
Source: WeeklyTimes



Down -0.8%

The market softened slightly awaiting news on the possible development of an El Niño weather system and harvesting progress updates from Brazil.
Source: QSL


587c/kg (EYCI)

Down -4.4%

Increased supply pressure and more selective buyers took a toll on prices. Weakening international markets for Aussie beef is weighing on demand.
Source: Mecardo


209c/kg (lwt)

Up 0.3%

The average NSW Female Slaughter Ratio for the first three quarters of the 2022-23 year indicates that at 42.8%, the herd remains in a rebuild phase.
Source: ABS


627c/kg (NTLI cwt)

Down -1.9%

The NSW Heavy Lamb Indicator continued on a downward trend although remained at a very healthy premium above trade lambs.
Source: MLA


1,364c/kg (Mel 21mc)

Down -2.2%

Lower volumes could not arrest the current downward trend. All types were affected with a clear market direction from trading partners not forthcoming
Source: AWI


The forecast remains mainly dry with less than 10mm for all NSW cropping regions.