Good spring rains are fueling excellent yields in grain crops in Southern areas of the Basin and Western Australia. However, some crops are being cut for hay due to lack of rain in other parts.
Whilst this places downward pressure on the price of these commodities at harvest, there is some relief for the embattled dairy farm. With low allocations (zero so far in the MIL and NSW Murray) and milk prices the dairy farmer can see some relief in lower input costs. Reports to hand suggest grain prices continue to soften and hay is appearing on the market south of $100!
Water prices have come off the $400 mark with continued spring rains and the softer grain and hay prices. See the latest charting report in the blog.
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