It’s summer and its certainly feeling like it too! Straight into the 40’s and forecast to remain the same leading into next week. Our hopes of a wet Christmas are dwindling fast, there was a small amount of rain forecast for 24th, 25th and 26th coming in from the coast, but that has tapered off and looks unlikely it will make it over the rangers. There is a change popping up in the New Year but again, only mm when we need inches.
Lack of grower selling/engaging in the market, no rain and the heat has certainly sent the market into a bit of a frenzy. Sorghum washouts due to prospects of little to no sorghum production have pushed that market to $512/MT Brisbane track. It seems everyone realised the crop was not going to eventuate and were trying to get their positions sorted ahead April/May deliveries. Wheat and barley have also increased this week, as growers continue to hold grain back from the market in anticipation of the new year seeing stronger values.
Over the last month, farmers who are supplementary feeding livestock have also come back aggressively into the market. They had been holding out purchasing in anticipation of getting under a summer storm but that hasn’t eventuated. Now that prices have started heading north and Christmas holidays are just about upon us everyone is trying to get coverage. It’s extremely hard to get trucks and with limited operating hours over the Christmas/New year period it’s making it hard to execute anything at the moment.