CNSW Market Update – 31/08/2018

Alistair Murphy, Agfarm Account Manager CNSW

This week we saw the most significant widespread rain event we’ve had this year in Northern NSW and Southern Queensland. The best falls were recorded in the Western Downs region, with gauges showing anywhere between 50 – 60mm west of Toobeah. Unfortunately, the rainfall wasn’t as widespread as we hoped with the majority of Central QLD, inner Darling Downs and North Western NSW recording much lower falls, around the 5-10mm mark. As far as improving 2018 winter crop prospects, the majority of crop in the ground is too far gone to make too much of a difference. Although the small pockets holding on will get a good boost.

The farm to farm stockfeed market has taken a shallow breather for now softening off around $10/MT, but with the rain not being as widespread as we hoped it won’t take long to chirp back up again especially in North Western NSW. Farm to farm values are still head and shoulders above the big volume homes quoted in the below weekly pricing matrix, with the premium being anywhere from $40-50/MT per tonne over traditional markets.

On the summer cropping front, we really need another two inches (at least) to be ready for it, with other areas such as Walgett and Central Queensland in need of much more again. Some pockets east of Moree, Narrabri and Toobeah would have sufficient moisture to make a start prior to the summer window opening. But even with the recent falls, the profile is still considered to be in less than ideal condition heading into the summer cropping window.

It looks like there is a chance of more rain heading into next week, which will be great to follow last weekend’s event.

 

Pictured: A rare site; a surprisingly good paddock of chick peas located at Tara, QLD.

 

Prices as at 30th August

 

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