Water Market Now in Seasonal Low Period for Prices

Water Market May Be Bottoming Out:
• Season lows typically hit in February
• Reservoir levels now declining. Note Major reservoir levels are now about 750,000 ML above their levels a year ago as outlined in the table above. This additional storage compares with 2,500,000 to 6,500,000 annual water use in the LMDB over the last ten years.
• Charts indicate $150-300/ML range over the next few months as per the chart above.
• Prevailing prices this last few months between $160-200/ML with typical discounts of another $30 in the Murrumbidgee provide most grower groups with the opportunity to carryover water and irrigate profitably next season.