Weekly Commodity Report

Wheat

$390/t (H2)

US wheat futures have fallen recently with the northern hemisphere harvest progressing and cheap Black Sea wheat coming onto the market.
Source: Clear Grain Exchange

Barley

$305/t (feed)

Australian barley exports have eased recently as the summer crop export program ramped up. Lower world prices have led to a softer local market.
Source: Grain Central

Sorghum

$370/t

Sorghum exports reached 325,000 tonnes in May 2024 with almost all going to China. NSW ports accounted for over 120,000 tonnes of the total.
Source: IHS Markit

Cotton

$603.3/bale (Cotlook 'A' Index)

Cotton futures eased after the latest USDA cotton forecasts indicated higher world production and consumption, including higher US production.
Source: Cotton Grower

Oilseeds

$670/t

Canola prices eased off recent highs, despite the strength in Canadian and European futures markets. Global vegetable oil prices have been rising.
Source: Ag Scientia

Pulses

$897/t

New crop chickpea sales have been thin, although it is early in the new season. Lentil prices have eased with India's monsoon season improving.
Source: Profarmer

Sugar

$645/t

The Australian came crush has had good start, with the forecast revised up to 31.15 million tonnes of cane, as world sugar futures ended lower.
Source: ASMC

Cattle

625c/kg (EYCI)

The EYCI rose across all states this week. National cattle slaughter is currently averaging 124,000 head per week, well above five-year averages.
Source: MLA

Cows

272c/kg (lwt)

Processor cows rallied strongly with reports of stronger manufacturing beef and export demand, and lower beef production in the United States.
Source: The Land

Lamb

836c/kg (NTLI cwt)

Most lamb indicators rose with trade lambs at Wagga reaching an average of 912.46c/kg, 50c higher than the next-best performing saleyard, Forbes.
Source: MLA

Wool

1,107c/kg (EMI)

The wool market was down again this week, with almost all micron grades finishing lower. The higher Australian dollar drove he drop in prices.
Source: AWI

Weather

Good rainfall for far and north west NSW this week. The long range forecast for late winter suggests above-average rainfall for much of the state.
Source: Bureau of Meteorology