Weekly Water Update - 23 Sep 2020

• Allocation markets are easing with recent rainfall recorded and a promising outlook for all areas in the coming 10-12 days:

• Murrumbidgee trading at $160 today, -$20 from last week’ high where it touched $180

• Murray (below choke) trading at $295 today, -$15-$20

• Murray (above choke) trading at $175, -$30 from last week

• Goulburn trading at $190, steady

• Murrumbidgee Groundwater (Zone 3) - $100 steady

• Traded volumes have certainly hit the wall this week as allocation buyers assess likelihood of both local rainfall and the catchment areas for the next fortnight, inflows have been somewhat above expectations as the catchment looks to be “wetting-up” and a favourable two week forecast ahead this is the driving factor behind allocation prices for the next 10-14 days. For sellers in the Murrumbidgee/Murray (above choke) areas – these price levels could present a good price point to take some off the table

• Moving into the late spring/early summer watering period it will be interesting to see how the market handles both the carried over water (more relevant to the Murray and Goulburn based on the volume of water carried over in these systems) balances in combination with forward water deliveries coming into the system. The surge in demand for allocation from Horticultural industries will not be like it was last year, and delivery risk below the Barmah choke will also not be as extreme as experienced in previous two summers (refer to Lake Victoria balance and small amount of water in Lower Darling)

• Interest in General Security entitlements, all areas/zones, continues to rise with confidence in allocations – especially as the three month weather outlook trends in a similar direction

• Permanent markets buyer interest of note in the following zones:

  • Murrumbidgee High security - $7,500 wet

  • Murrumbidgee General Security – offering $2,100-$2,120 wet

  • Murray (above choke) General Security – offering $1500-$1550 wet

• Dam Levels: 

Current Opportunities – All Enquiries Welcome

Permanent

• All parcel sizes for G/S entitlements (Murray or Murrumbidgee) sought - CALL

• 300ML Lower Murrumbidgee Zone 2 Groundwater DRY – $4,500

• 800ML Lower Murrumbidgee Zone 3 Groundwater DRY – Make an Offer