Terra Ag Water Markets update - 4th January 2022
Happy new year for 2022 and best wishes for the year ahead. After a brief hit of summer weather the rainfall forecast is firming for this week in the Murrumbidgee and catchment areas. Markets across the zones will open at or near the following levels this morning:
Murrumbidgee - $75-$80 and steady
Murray (below choke) - $90-$100 and steady (depending on which side of river allocation is dealt)
Murray (above choke) - $65 easing
Goulburn - $70 easing
In the Murrumbidgee the weather forecast is going to hold back buyer interest this week. Summer crops are showing good growth after a good month of summer weather for December, therefore usage will pick up now as we move towards maturity
The supply of water above the choke is weighing heavily on this market, whilst the crop prospects for this area are good in terms of areas planted, the combination of carried over water from the previous year and full allocations this season there is a significant downward pressure on this particular market. Similarly in the Goulburn, with IVT events finalised for this season and current water account balances there is a similar downside pressure in this valley
Below the choke is likely to be a range bound market until autumn based on a combination of rainfall figures season to date and the base demand on crops in this zone
A couple of events to watch in the month ahead:
Weather patterns: yes an obvious one but more import is the question to ask, will we see a continuation of the weather patterns pre-xmas or will there a reversion to normal for the remainder of summer?
Murrumbidgee IVT call: the last call was on the basis that the IVT account had spilled from the Murrumbidgee dams, this certainly could be another scenario for the river operators to manage based on inflows received by the Murrumbidgee to date
Market Opportunities:
FOR LEASE: 3,000ML Murrumbidgee G/S Entitlements, 3 Years with option to extend negotiable, commencing 1 July 2022 – Call to discuss in more detail
FOR LEASE: 3,000ML Murrumbidgee H/S Entitlements, 3 Years with option to extend negotiable, commencing 1 July 2022 – Call to discuss in more detail
FOR SALE: 300ML Lower Murrumbidgee Zone 2 Groundwater DRY – $4,000
Seeking Zone 1 Murrumbidgee Groundwater Carryover space - CALL
WANTED: 100ML Murrumbidgee High Security DRY - $8,600/ML
FOR SALE: NSW Murray General Security – incl. 100% seasonal allocation – asking $1,850/ML ONO
As always, please call to discuss any enquiries or requirements you have.
Regards,
Grant Volz
Director – Terra Ag Rural Agencies
Unit 30, 16-24 Whybrow St, Griffith NSW 2680
M: 0418 916 031
F: 02 6964 6095
