Weekly Commodity Report

Report prepared 26 November 2021.

Wheat

$376/t (H2)

Steady

The wheat crop is facing the largest quality downgrades since 2010-11, a strong La Niña events, with analysts monitoring central NSW for downgrades.
Source: The Land

Barley

$275/t (feed)

Up 2.2%

Barley and stockfeed wheat are covering the majority of feed markets currently. Rain is a concern to the barley harvest in South Australia.
Source: Grain Central

Sorghum

$296/t

Steady

Local demand for sorghum is likely to be quiet with high feed wheat volumes expected to come. Early Queensland plantings are mixed due to rain.
Source: Profarmer

Cotton

$884.3/bale

Up 1.5%

U.S. cotton prices again rose ahead of the Thanksgiving Day holiday, but volumes were lower. Traders were concerned about the higher U.S. Dollar.
Source: AgFax

Oilseeds

(Canola)

$886/t

Down -0.4%

Canola prices have edged lower as receivals progressed, with harvest nearing completion in Western Australia. Rain may have impacted quality in NSW.
Source: Profarmer

Pulses

(Chickpeas)

$478/t

Up 2.1%

Pulse Australia increased its national chickpea forecast to 870,000 tonnes with Pakistan and Bangladesh expected to remain the volume buyers.
Source: Grain Central

Sugar

$607/t

Down -1.6%

Indian sugar production has started the season up strongly over last year, with high prices leading to an extra 500,000 tonnes of exports.
Source: QSL

Cattle

1111c/kg (EYCI)

Up 1.5%

The Eastern Young Cattle Indicator hit another record of 1111c/kg cwt this week on lower saleyard throughput, with 10,182 EYCI-cattle sold.
Source: MLA

Cows

369c/kg (lwt)

Down -0.9%

US imported beef prices remain strong, with 90CL lean blended cow prices 32% higher than year-ago levels. Beef exports to the US is down by volume.
Source: MLA

Lamb

842c/kg (NTLI cwt)

Down -3%

Prices for heavy and trade lamb fell this week, while light lambs, merino and mutton all gained. Lamb and sheep slaughter rose above year-ago levels.
Source: Mecardo

Wool

1,310c/kg (Mel 21mc)

Up 1.1%

The Eastern Market Indicator gained 17c to 1,341c/kg clean this week, with increases in most micron grades, as manufacturers led the buying lists.
Source: AWI

Weather

More heavy rainfall as cropping areas got at least 50mm over the week. Narrandera received 107mm, Quirindi had 96mm and Dubbo had 89mm by Monday.
Source: Bureau of Meteorology