Weekly Water Update - 4 Dec 2020
A relatively quiet week across all markets this week, if anything an element of softening in allocation pricing after Tuesday’s round of allocation announcements
The weather patterns are not really signalling anything material to consider in this regard either, cooler temperatures forecast with minimal rainfall in the 10-15 day outlook. Overall the longer term forecasters are still buoyant for summer rainfall across eastern Australia but for the moment nothing is popping to suggest a wet phase might be back into swing
Murrumbidgee IVT deliveries have commenced suggesting a trade opening may occur around or near the festive holidays, to date the order for delivery stands at 40GL with no further indication from the MDBA if there will be further orders. The consensus amongst the market is we may see another order of 30-40GL in January in conjunction with Goulburn inter-valley deliveries
So essentially we’re sitting in a holding pattern with most markets finding a new support level this week:
Murray (below choke) - $215-$220 – this market has struck good support at $215 and possibly will range trade now up to $230’s over the course of the next few weeks
Murray (above choke) - $150-$160 – there could be some easing in this price now with summer crop plantings completed
Goulburn - $145-$150 – has run up from $100 a couple of weeks ago with IVT deliveries underway
Murrumbidgee - $100 – buyer demand has fallen away after the last couple of weeks and could yet continue to drift lower in the coming week(s)
Permanent markets have also steadied with Murrumbidgee H/S trading at $6,725/ML (dry) this week, and offers of $2,250 (wet) for G/S in the same valley. Vic H/S (below choke) is steady at $6,100-$6,300, Goulburn at $3,800-$3,900.
Top Opportunities – All Enquiries Welcome
Permanent markets buyer interest of note in the following zones:
Murrumbidgee General Security – offering $2,250 wet
Murray (above choke) General Security – offering $1550 wet
300ML Lower Murrumbidgee Zone 2 Groundwater DRY – $4,500
800ML Lower Murrumbidgee Zone 3 Groundwater DRY – Make an Offer
70ML Murrumbidgee High Security - $7,000 ono
New Season Forward Allocation – Sep/Oct ’21 delivery - $200/ML – CALL TO DISCUSS
Deferred deliveries for current season available in Murrumbidgee and Murray – CALL TO DISCUSS
Murrumbidgee Carryover (Holder Risk) – offering $100/ML (Placer Risk available – CALL