Welcome to the Elders Insights' Weekly Market Summary for the week 6 to 12 April 2026. We recap what’s happened on the Australian commodity markets over the past week and influencing factors.
Weather
There was some patchy rainfall of 15 to 25mm across lower parts of the South Australian and Victorian cropping belts and through to central and north-east Victoria and the eastern Riverina of New South Wales. Tasmania received some good falls but also some very cold weather. The rainfall forecast for this week does not look promising, with only north-east Northern Territory, northern and central Queensland and parts of Tasmania slated to receive some moisture. A bout of cold weather across the south is signalling that pasture growth may be limited in these areas from here on. Temperatures remain mild across the north, helping cattle to hold condition, despite very tight feed supplies in northern and central New South Wales.
Get weather forecasts for your region on Elders Weather.
Australian Dollar
The Australian dollar continues to be trapped in a trading range between 71 to 69USc, held hostage by oil prices and risk sentiment. The Australian dollar traded just below 71USc heading into the weekend but was just above 70USc this morning, with oil up 8 per cent (above $100/bbl) on Trump’s threat to block the Strait of Hormuz.
Livestock
Cattle prices continue to be under pressure from forced turnoff from central and northern New South Wales, a seasonal rise in supply out of Queensland and rising freight and feed costs. Northern processors that are full two months, out now hold the whip hand. The recent fall in cattle values will encourage southern processors to head north to find supplies as southern cattle availability tightens seasonally. Global beef prices continue to hold amid falling United States production levels.
Read more about the stern test facing Australian cattle markets over coming months.
Spotlight on: US beef production
US beef import demand has remained resilient in the face of a myriad of economic challenges, supported by lower US beef production (-8 per cent year to date). Over the next few months, it will be called on to do more heavy lifting to absorb increased beef supply from Australia and Brazil as Chinese beef import restrictions start to bite mid-year.
This chart shows weekly beef production in the US. Source: USDA.
Sheep and lamb markets held firm as sheepmeat kills taper seasonally, with light and merino lambs even gaining a little. Given the heightened risks (due to inout costs and availability), some mixed farmers may look to cut plantings this year and run more livestock which would support store livestock markets. Scanning rates are reportedly very good which should mean lamb supplies will recover somewhat in Spring.
View livestock for sale and our sales calendar listings.
Grain
Global wheat prices eased last week after the United States Department of Agriculture (USDA) increased last year’s production (mainly in Europe) and this year’s stocks carry in. Despite all the noise about input costs, the northern hemisphere winter wheat crop is in good shape with production estimates rising across Europe and North Africa. The main concern is the United States where just 35 per cent of crops are rated good to excellent, well down on 48 per cent at this time last year. However, it did rain across the United States wheatbelt over the weekend and there is more rain forecast which means the crop does not get any worse.
A large spread has opened between local grain prices in the north at $410 to $420/tonne and those in export zones where values are $330 to $340/tonne. Southern and western farmers are planting, while northern growers continue to ponder. The dilemma being that, for example, over the northern wet season, Goondiwindi has had just 2 inches while some in Central Queensland have had 40 inches.
Trade your grain at your price on the secure GCX platform.
Sugar
Raw sugar futures hit a one-month low on Friday at 13.75USc/lb, heading for 7 per cent losses on the week as investors focused on ample supplies and put aside rising energy prices and war risks.
Cotton
Cotton futures ticked down on Friday but were set for a fifth consecutive week of gains as elevated oil prices make oil-based cotton-alternatives more expensive. Old crop cotton prices rose $15/bale to $600 Dalby and $592 Moree with cottonseed holding at $465/tonne.
Learn about the many ways Elders helps cotton growers.
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.