Weekly Commodity Report

Report prepared 14 February 2025.

Wheat

$350/t (H2)

Steady

Demand from SE Asia is lifting mainly from Indonesia and Philippines, while China delays purchases. USDA forecasts lower China wheat imports in 24/25.
Source: Profarmer/USDA

Barley

$303/t (feed)

Up 1.7%

A shift in export demand to eastern states and expanding Victoria and South Australian supplementary feeding of livestock is supporting prices.
Source: Profarmer/Dairy Aust

Sorghum

$340/t

Up 3%

Sorghum prices were slightly higher, following other grains, as the harvest has progressed. Grower selling has not weighed on prices to date.
Source: The Land

Cotton

$624.4/bale (Cotlook 'A' Index)

Up 1.4%

The Cotlook 'A' Index lifted to 78.55 USc/lb. Australia's 2024 season's share of exports to 31 December include China 29%, Vietnam 27% and India 12%.
Source: Aust Cotton Shippers Assoc

Oilseeds

(Canola)

$744/t

Down -0.5%

Increased global soybean availability including from Brazil and greater certainty of EU rapeseed crop as winter ends will likely impact pricing
Source: Profarmer

Pulses

(Chickpeas)

$847/t

Steady

The record chickpea export program is drawing to a finish with demand likely pivoting back to the container trade to Pakistan, Bangladesh and UAE.
Source: Profarmer

Sugar

$684/t

Up 0.3%

Raw sugar futures markets have rallied with lower expected production from India, with their harvest season ending early than usual.
Source: QSL

Cattle

654c/kg (EYCI)

Up 2.7%

The EYCI rose this week with higher demand due to more favourable weather conditions. National weekly slaughter is 30% above the 5 year average.
Source: Mecardo

Cows

279c/kg (lwt)

Up 3.4%

The Processor Cow Indicator rose with slightly lower yardings. Wagga and Dubbo were the largest contributors with both saleyards above 280c/kg.
Source: MLA

Lamb

761c/kg (NTLI cwt)

Down -0.7%

The lamb market eased further, continuing to trend lower in early 2025. National lamb supply fell 14% to 297,027 head this week.
Source: MLA

Wool

1,192c/kg (EMI)

Down -1.9%

Demand from China and India declined, along with unfavourable currency movements and increased offering impacted prices for majority of categories.
Source: AWI

Weather

In January 2025, the area-weighted rainfall for NSW was 28% below the long term average, with rainfall below average for much of western NSW.
Source: Bureau of Meteorology