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Australian Weekly ABARES Report


23 November 2012

Australian Weekly ABARES Report - 22 November 2012Australian Weekly ABARES Report - 22 November 2012

Thunderstorms have reportedly damaged some crops across southern Queensland and northern New South Wales this week.

The Australian Bureau of Agricultural and Resource Economics and Sciences

Parts of western and northern Australia are expected to receive rainfall of up to 150 millimetres in the coming week.

El Niño-Southern Oscillation and Indian Ocean Dipole conditions have both returned to neutral levels.

Wetter than normal conditions are more likely for parts of Western Australia, southeast Queensland and eastern New South Wales between December 2012 and February 2013.

Commodities

The world wheat indicator price (US No. 2 hard red winter, free on board Gulf ports) averaged US$366 a tonne in the week ending 20 November 2012, around 3 per cent lower than US$378 a tonne in the previous week.

The US Department of Agriculture reported that 34 per cent of the US winter wheat crop was in good to excellent condition for the week ending 18 November 2012. This compares with an average of 54 per cent for the same time over the previous five years.

The world coarse grains indicator price (US no. 2 yellow corn, free on board Gulf ports) averaged US$325 a tonne for the week ending 21 Nov 2012, around 2 per cent higher than US$319 a tonne in the previous week.

The Queensland young cattle indicator price (330 – 400 kg live weight C3) increased by around 7 per cent to 346 cents a kilogram in the week ending 16 November 2012.

Saleyard lamb indicator prices (18-22kg fat score 2-4) fell in all states, except Western Australia, in the week ending 16 November 2012. The largest declines were in Victoria (14 per cent to 291 cents a kilogram) and New South Wales (13 per cent to 329 cents a kilogram), largely reflecting a significant increase in yardings and the mixed quality lambs offered for sale.

Changes to the wholesale prices of fruit and vegetables were mixed in the week ending 17 November 2012.

Climate

Thunderstorms have reportedly damaged some crops across southern Queensland and northern New South Wales this week. The northern rivers region of New South Wales was reportedly the hardest hit, with major damage reported to crops and farm infrastructure in the Woodburn region.

Parts of western and northern Australia are expected to receive rainfall of up to 150 millimetres in the coming week.

The current neutral pattern in the El Niño-Southern Oscillation (ENSO) is likely to persist until early 2013 despite Pacific Ocean temperatures remaining warmer than average. After reaching positive levels during late winter and spring, the Indian Ocean Dipole (IOD) is following its normal cycle of decay approaching the end of the year and is currently near neutral. The IOD has limited influence upon Australian climate over summer and autumn (Bureau of Meteorology ‘ENSO Wrap-Up’ 21 November 2012).

The national rainfall outlook for December 2012 to February 2013 indicates that a wetter than normal season is more likely for parts of Western Australia, southeast Queensland and eastern New South Wales, while a drier than normal season is more likely for the northern half of Queensland (Bureau of Meteorology ‘National Seasonal Rainfall Outlook’ 21 November 2012).

Rainfall this week

For the week ending 21 November 2012, falls in excess of 25 millimetres were recorded in the Kimberley, far north Queensland, the east coast and Tasmania. The highest measured rainfall total for the week was 165.6 millimetres at Coffs Harbour NSW after a severe storm cell passed through NSW and southern Queensland. For further information, go to www.bom.gov.au/climate/current/weeklyrain.shtml.

Rainfall for the week ending 21 November 2012


©Commonwealth of Australia 2012, Australia Bureau of Meteorology
Issued: 21/11/2012

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