Welcome to the Elders Insights' Weekly Market Summary for the week 9 to 15 March 2026. We recap what’s happened on the Australian commodity markets over the past week and influencing factors.
Weather
There was 50 to 200mm of rain for the Western Australian Kimberley and most of the Northern Territory and Queensland, with some much-needed rain across the dry Mulga country in south-west Queensland. Western and central Tasmania received around 25 to 50mm. An inland trough brought rain of 15 to 25mm to the Western Australian Goldfields. This trough is currently extending into South Australia and bringing follow-up rainfall to South Australia’s agricultural and pastoral regions. This system is forecast to deliver more rain for the north, the interior and the south-east over the next few days.
Get weather forecasts for your region on Elders Weather.
Australian Dollar
The Australian dollar is being moved up and down in its trading range of 70 to 71USc by changes in risk sentiment associated with conflict in the Middle East.
Livestock
Cattle markets are gradually firming, supported by issues with moving livestock out of northern and central Queensland. Saleyards in northern and central New South Wales are heavily supplied as pasture conditions deteriorate, with producers taking advantage of strong prices to move stock early.
Internationally, imported beef values and United States cattle futures eased as anxiety over rising crude oil prices and broader economic concerns more than offset support from tight supplies. Higher fuel prices will prove a headwind for beef demand moving forward.
Sheep and lamb markets values were firmer but remain in the $11 to 12/kg range for lamb and around $8/kg dw for mutton. There is evidence of buyer price fatigue and reports that more processors are moving to cut shifts which will act to subdue demand and prices moving forward despite supply tightening seasonally over the next few months. Scanning rates for autumn lambing have been excellent which augurs well for a decent spring flush. Find out more in the latest sheep market report.
View livestock for sale and our sales calendar listings.
Grain
Local grain prices increased $5 to $10 per tonne last week, with much of the increase due to higher freight costs. There is little interest from Queensland and northern New South Wales growers in selling grain at current levels, and with barley stocks limited north of the border, New South Wales growers are holding what they have. That means most new business is being executed out of up-country warehousing.
Higher freight and replacement costs are lifting prices in delivered markets. It is very dry in cropping areas of southern Queensland and northern New South Wales, and sales will be limited until there is a decent, widespread rain. In the south, steady export demand is keeping markets ticking over.
Grain values on international exchanges have moved higher on speculative buying tied to rising crude oil prices; however, these have not yet flowed into physical export markets.
Trade your grain at your price on the secure GCX platform.
Spotlight on: US wheat futures
The chart below illustrates that the rise in US wheat futures has not yet flowed onto local values. We expect this situation to remedy itself over the next few months as high fuel and fertiliser costs get baked into global grain prices.
This chart shows US wheat futures prices in $A/tonne vs Western Australian APW wheat prices Kwinana port (WA). Source: LSEG Workstation.
Wool
The Australian wool market continued its positive run this week, with the Eastern Market Indicator (EMI) finishing 16c higher at 1,783Ac/kg. Merino cardings led the gains, averaging 25 to 30c higher across all three centres. Premiums continued to favour high strength, well-styled fleece with low vegetable matter. An increased offering of 45,476 bales came forward last week as sellers responded to the continued strength of the market.
Learn the many ways we support wool growers.
Sugar
Sugar futures gained nearly 3 per cent (pc) on worse than expected output in India and on thoughts that rising energy prices may prompt Brazilian cane mills to cut sugar output and produce more ethanol.
Cotton
High domestic Chinese values relative to US futures has seen the Chinese Government issue fresh import quotas to help bring Chinese cotton values in line with global prices. This and supply disruptions caused by the Middle East conflict have exposed the just-in-time cotton supply chain and led to an increase in physical demand, lifting global cotton values. Locally, this has translated to cotton values jumping from $525/bale to $547/bale Moree.
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.