VIC Market Update – 08/02/2019

James Ryssenbeek, Agfarm Regional Manager VIC

Good soaking rains have been welcomed by much of Victoria this week. Croppers will take it to replace soil moisture, western districts dairy farmers were happy for the summer forage crops, and almost all livestock farmers are looking for feed. Some standouts were 20mm at Ouyen, 30mm at Longerenong and finally some rains for Gippsland which is very dry.

Grain markets remained quiet this week with discussions generally centered around executing existing contracts. There continues to be domestic consumer demand and farmer to farmer trade for stock feed. Hay trucks have again started moving north into NSW/QLD from Victoria.

Old crop prices continue to soften due to lack of demand, with producers holding and consumers waiting to see how far prices may come off. That said, as prices fall, Australia becomes more export competitive in what is our key export window. Once we start to see export sales the domestic market is expected to move with consumers looking for coverage before grain goes overseas.

Prices as at 7th January

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



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