Production inputs monitor
Dairy Australia's Production Inputs Monitor (originally the Drought Report), contains a monthly update on a range of farm input costs, including:
Key points from the May 2012 Production Inputs Monitor
- Climate indicators across the tropical Pacific Ocean remain neutral, with no indications of either an El Niño or La Niña event developing. Climate models surveyed by the Bureau of Meteorology suggest that neutral conditions will persist into the southern hemisphere winter.
- Wheat prices again lifted marginally during April with the Melbourne-delivered feed wheat price finishing the month up $5 per tonne to $212 per tonne, and barley down $1 per tonne to $197 per tonne.
- National Australia Bank are forecasting a local wheat crop of 26.1 million tonnes in 2012/13, down 12% on last year but still well above the long term average. "Excellent" subsoil moisture profiles across the east coast are driving expectations of above average yields, whilst plentiful supply and global macroeconomic challenges have farmers carefully weighing up price expectations in preparation for planting.
For more detail, go to Production Inputs Commentary.