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Flooding rains trigger cattle price lift

by James Nason, 02 March 2012

Rainfall totals across Australia in the week to yesterday. Click on image below article to view in larger format.A broad arc of rainfall sweeping  from the Northern Territory to south eastern Australia has delivered significant falls to pastoral areas that had been in strong need of seasonal relief heading into this week. 

The massive rain event that has been underway since Monday has created flood emergencies in NSW and Victoria, where several townships are either being evacuated or on evacuation alert.

Forecasters say the rain hasn’t finished yet, with further heavy rain expected to fall from Alice Springs to south eastern NSW over the next four days.

The widespread soaking has triggered a supply-induced lift in cattle prices at NLRS reported saleyards, with eastern states yardings reported to have declined by 24pc earlier this week. .

The Eastern Young Cattle Indicator had risen to 390.5c last night, up by 8.75c for the week, regaining all of the ground lost last week on the back of a return to normal weekly yardings. 

After weeks of wet weather and flooding in southern Queensland and northern NSW, this week it was central and southern Australia's turn.

As the weekly rainfall map shows, large areas of the Northern Territory, the pastoral north of South Australia, New South Wales and northern and eastern Victoria have received significant totals.

Authorities report that about 75pc of New South Wales is currently threatened by floodwaters, with large parts of ACT and Victoria under similar threat. 

The forecast is for more rain to come.

The Weather Channel’s chief meteorologist Dick Whitaker said last night that the existing slow-moving low pressure trough would generate widespread and heavy rain over the next four days from Alice Springs to South East NSW.

“Widespread rainfalls of 100m plus are indicated down this belt, with a rainfall bullseye of 200mm plus over the central west of NSW between today and Sunday,” Mr Whitaker said.

Conditions were expected to ease in those areas on Sunday and Monday, as the low-pressure trough moves northeast into Southern Queensland.

In complete contrast, hot and dry weather is expected to continue across the week for most parts of the southwest land division in WA, while a severe fire danger exists over the central west district of the State.


 

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