Widespread winter rain boosts markets – BOM

It was a wet start to winter for most of the country, with southwest WA and the northernmost regions of Australia the only exceptions (Bureau of Meteorology – BOM). The widespread rain saw both the sheep and cattle markets rally on the back of strong restocker competition, and prices pushed higher into uncharted territories.

The east coast of the country experienced very heavy and, in some parts damaging, rainfall in early June. Almost all of NSW and Queensland received ‘above average’ to ‘very much above average’ rainfall for the month, with several areas registering the ‘highest on record’.

Victoria had a fairly typical month for the beginning of winter, with only the eastern corner of the state having wetter than normal conditions.  Rainfall across SA was mostly ‘above average’ to ‘very much above average’, although the southwest corner measured ‘average’ falls during June. The majority of Tasmania had a wetter than average month, although some western areas of the state received ‘average’ falls.

Central and south east WA recorded ‘above average’ to ‘very much above average’ rainfall, while the southwest corner and the Kimberley experienced a drier than usual June period. Rainfall across the Top End in the NT was patchy, with areas of both ‘above average’ and ‘below average’ rain – although it should be noted that at this time of year, during the ‘dry season’, rain across northern Australia is typically very low.

Looking ahead, BOM forecasts a wet start to spring for large parts of the country. ‘Above average’ rainfall is likely for the July to September period, particularly in the south east. If this three-month rainfall outlook eventuates, it will continue to fuel restocker demand and tighten availability – providing further support for the cattle and lamb markets.