SNSW Market Update 08/02/2019

Matthew Noonan, Agfarm Account Manager SNSW

Another week of mixed weather. It is still reasonably warm around the southern half of NSW but the past three to four days has seen some stormy weather with some paddocks getting a good drenching. Most will have run into dams but hopefully some has soaked in. Falls ranged from 0mm for some, while some western areas received up around 25-30mm. Eastern areas of the South West Slopes had falls between 50-80mm’s. Not drought breaking by any means but has brought some relief.

The past week has seen wheat markets slightly soften due to newly harvested sorghum reaching as far south as the Murrumbidgee region. This will bring some temporary relief for consumers who can substitute sorghum into the ration for wheat and/or barley. Griffith market zone for the back end of this week is now hitting either side of $430/MT delivered. With a sudden influx of cheaper grain this may keep any increases into our local Southern NSW markets at bay for the short term.

Barley has seen some enquiry for grazing/feed lotting/maintenance feeding markets but will need to come a lot harder and faster for it to push prices up significantly. There is some opportunity with some sellers around $380-390/MT exfarm.

Canola markets continue to be slow. Some have increased by $1-5/MT this past week which might provide some selling opportunities. Port Kembla Track values are ranging around $615-622/MT.

 
Pictured: Irrigated cotton (left) and seed sorghum (middle and right) near Deniliquin.

 

Prices as at 7th February

* View of current market pricing. Does not represent current Agfarm bids.

 

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