Weather
Good but patchy rain of 15-100mm fell across most agricultural regions of Western Australia (WA), across northern pastoral areas, eastern Queensland and parts of northern New South Wales (NSW), western NSW and Victoria. Rain is expected to feed in from north-west WA and hit most of northern Australia and South Australia in the next week.
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Australian Dollar
Bouncing around 63USc as markets absorb the impact of Trumps tariffs and other policies on US growth with no strong leads.
Livestock
Cattle markets were marginally stronger as yardings fell, with producers holding stock back given recent processing disruptions. Generally, cattle that are near market ready are meeting solid demand, store conditioned stock are a little harder to place as most of southern Australia remains in drought. Last week’s rain saw a bit of a kick up of activity from those lucky enough to receive it. Northern areas that have received follow-up rain are now well-placed heading into late autumn.
Sheep and lamb markets have stabilised as forced turnoff has mostly happened. Processors will soon be dealing with lower supplies as we head into late autumn and winter when generally slaughter supplies are lower.
As shown by the graph below, sheepmeat values have stabilised after a period of volatility at the end of last year and early this year. Hot and dry weather across major lamb producing regions has seen the maintenance of strong supplies through the first quarter of this year. Our agents reckon there are now gaps appearing in slaughter schedules and suggest that finding suitable supplies of slaughter lambs will become harder through autumn and winter. The next move in values looks to be higher to challenge peak levels of late 2025.
View livestock for sale and our sales calendar listings.
This chart shows saleyard indicator prices for major sheepmeat categories.. Source: NLRS
Grain
International markets have been volatile with China introducing reciprocal tariffs on US agricultural exports and imposing a 100per cent (pc) tariff on Canadian canola meal and oil. These tariffs are starting to alter trade flows with Australian feed barley and sorghum the likely beneficiaries. The prospect of more GM Canadian canola competing in secondary markets against Australia has increased the premium for non-GM canola (most of the east coast crop).
Locally, slow grower selling has meant that grain prices in east coast feed markets were firm to slightly dearer. Sorghum is selling for $370/t delivered Brisbane and Newcastle, almost the equivalent of wheat which is encouraging growers who are harvesting higher yielding crops (6-8t/ha up to 11t/ha) to sell off the header. Wheat is $350/t Downs and $365-375/t (+$5/t) Melbourne/Murray Bridge & $373/t WA with feed barley at $10-20/t discount.
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Wool
Wool gained 17c/kg to 1242c/kg on top of a rise of 30c/kg the previous week, taking prices to near 2-year highs. Premiums for the finer end of the offering remain disappointing with the poor season increasing the proportion of finer and weaker wools. Tight supplies and prospects for further falls in production are aiding the firmer market trend.
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Sugar
Raw sugar futures rose around 6pc for the week to 19.2USc/lb, buoyed by dry weather in Brazil and a deterioration in the production outlook in India.
The information contained in this article is given for the purpose of providing general information only, and while Elders has exercised reasonable care, skill and diligence in its preparation, many factors (including environmental and seasonal) can impact its accuracy and currency. Accordingly, the information should not be relied upon under any circumstances and Elders assumes no liability for any loss consequently suffered. If you would like to speak to someone for tailored advice relating to any of the matters referred to in this article, please contact Elders.