Weekly Commodity Report

Report prepared 10 January 2020.

Wheat

$415/t (H2)

Up 2.5%

GrainCorp grain receivals increased to 513,530 tonnes in NSW, with harvest now reported to be complete. Prices increased over the Christmas break
Source: GrainCorp

Barley

$357/t (feed)

Up 4.4%

Slow grower selling and strong demand by graziers has pushed barley prices higher across the state. Malt barley demand in Victoria has also been good
Source: Profarmer

Sorghum

$460/t

Up 16.5%

Expectations are that NSW will have the lowest sorghum crop in 30 years. Crop models are showing below average crop yields expected in northern NSW
Source: Ag Scientia; QAAFI

Cotton

$583/bale

Up 1.2%

Cotton prices have increased earlier in the new year with expectations that world cotton production in 2019 will be downgraded by 500,000 bales
Source: AgFax

Oilseeds

(Canola)

$645/t

Steady

International canola futures have increased in early January. Profarmer suggested that the majority of canola delivered in NSW has been sold
Source: Profarmer

Pulses

(Chickpeas)

$750/t

Steady

Pakistan and UAE remain the largest export destinations of NSW pulses, with November data showing higher export prices for chickpeas
Source: GTA

Sugar

$420/t

Down -2.2%

The sugar market was quiet with a shorter trading week. Crop estimates in India edged up to 27.5 million tonnes and Thailand estimates remained firm
Source: QSL

Cattle

482c/kg (EYCI cwt)

Down -2.8%

The EYCI fell to the lowest level since September. Weekly cattle slaughter in NSW ended the year with at the second highest level of 2019
Source: Mecardo

Cows

178c/kg (lwt)

Down -5.9%

Cow prices eased further to close 2019. Bushfires have affected key dairy regions across NSW and Victoria with many fires still out of control
Source: MLA

Lamb

698c/kg (NTLI cwt)

Down -1.6%

Weekly sheep slaughter was at the highest level in 3 years. The trade lamb indicator was below the average price through 2019
Source: Mecardo

Wool

1,769c/kg (Mel 21mc)

Up 3.5%

Wool closed the year on a positive with prices across most micron grades increasing in the last week of 2019. Bales offered was lower than expected
Source: AWI

Weather

Bushfires have burned over 4 million hectares in NSW. The fires have destroyed 1,995 homes to date and 1,079 homes since 1 January.
Source: NSW Rural Fire Service