Terra Ag Water Markets update - Opening Season 23/24

Written By Andrea Zanatta

  • A new season has now commenced and therefore plenty to take in starting with allocations:

    • Murrumbidgee General Security: 37% (High Security 95%)

    • NSW Murray General Security: 55% (High security 97%)

    • Vic Murray: 80%

    • Goulburn: 100%

  • Carryover has been estimated as being fully utilised from last season so take this into addition with the above allocations announced

  • Murrumbidgee IVT is currently OPEN with ~17GL in space available for trade

  • NSW/Vic interstate trading is CLOSED due to risk of spill and limited airspace – likely to remain this way until late spring/early summer

  • Barmah Choke is CLOSED after opening on 1 July, ~60GL was transferred in the space of an hour

  • Goulburn IVT will OPEN tomorrow 4th July

  • Allocation markets are yet to find any real trade or support today so far:

      • Murrumbidgee: $90 (bid) and $120 (offer)

      • NSW Murray (above choke): $42 (bid) and $50 (offer)

      • Vic Goulburn: $100 (bid) and no offers

      • Vic Murray (below choke): $90 (bid) and $130 (offer)

  • NSW announcements for release on the 15th will provide a further picture to Murrumbidgee allocation outlooks, regarding the Murray there is not a lot more to add given effective allocation today is 105% and will get to 110% in coming month.

 

  • Vic spill risk announcements will made available on the 10th July which will provide a clearer picture here in terms of spillable account balances and airspace management through winter months. With the Vic Murray allocation opening at 80% and Goulburn at 100% it is likely we will see significant volumes of allocation set aside in spillable accounts until late spring/early summer

 

  • Market Opportunities – Water for sale:

    • Murrumbidgee: $130/ML

    • NSW Murray (below choke): $130/ML

    • Vic Murray (below choke): $130/ML

    • Vic Murray (above choke): $100/ML

 

  • Forward Water/Deferred Delivery for sale (current season):

      • Murrumbidgee - $150/ML – Oct/Nov ‘23 delivery – CALL

      • NSW Murray (above choke) - $100/ML – Jul/Aug/Sep ‘23 delivery – CALL

      • Vic Goulburn - $110/ML – Jul-Sep’23 delivery

  • Vic Murray (below choke) - $130 – Aug/Sep ’23 delivery

Regards,

Grant Volz

Director – Terra Ag Rural Agencies

369 Thorne Road, Griffith NSW 2680

M: 0418 916 031

F: 02 6964 6095

E: gvolz@terraag.com.au

Andrea Zanatta
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