Grain – Hay Report – 29 May 2014

International & National Summary – Grain:

International Markets

• The international market continues to experience volatility led by any weather developments in the US. The market is firmly focused on the 7-14 day weather forecast and how it impacts the condition of US wheat crop and the planting progress of corn and soybeans. Improving conditions including overdue rains in key winter wheat production areas and ideal-planting conditions for spring wheat in the northern areas have resulted in wheat values easing. This week saw July 14 CBOT wheat fall a further A$6/t to close at A$266/t on Tuesday night.
• These weather developments are resulting in a large chunk of speculative risk premium coming out of the prices. Planting progress for US spring crops has now reached 75% so the risk of late planting is no longer providing support to agri markets. Likewise reports suggest the US winter wheat harvest is commencing in some parts with little opportunity for crop conditions to deteriorate at this late stage. The path of least resistance looks likely to be lower for international wheat values for the time being, particularly with harvest now on the horizon. It’s not unusual for futures values to soften as the US harvest gets underway.

Domestic Markets

• Public wheat prices in the northern markets dropped off $3-5 reflecting changes in international values, however anecdotal reports suggest grain is trading above public numbers. Sellers remain absent from new crop markets despite attractive published prices. Growers are hesitant to commit this early in the season with the production issues experienced over the last two seasons and uncertainty around the year ahead. If you are looking to secure tonnages on future delivery you may have to offer prices above what is publicly bid to attract required tonnages. There are suggestions further shipments of wheat and barley are set to arrive throughout June/July. If it eventuates this should provide some relief the local grain balance sheet and hopefully relieve price pressure too.
• Strong consumptive demand for feed grains across the east coast will keep prices elevated. With NW NSW and Southern Queensland seasonal outlook remaining dry there doesn’t look to be any short term price relief
• The northern sorghum market was softer $5-$10 this week on weaker demand. Stained off-grade sorghum on the Liverpool Plains is continuing to cause issues for some growers with grain being downgraded. Quality affected sorghum could present an opportunity to purchase required feed rations at a discount. With most of the grain being stored on farm it is imperative you do the due diligence to make sure you know exactly what you’re purchasing.
• In southern markets old crop prices continue to remain firm with sustained demand from both end users and export holding current values. A lack of seller engagement for both old and new crop markets is seeing prices remain strong.
• Further reports of barley from Northern Victoria and Southern NSW being transported to the drought regions of northern Australia are putting pressure on grain supply, and in turn pressuring prices higher. This is affecting the typical flow of grain into southern export ports and local domestic demand.
• With minimal old season stock being available a common theme across all port zones and still an extensive wait before new crop hits the market it may be prudent to plan winter-feed requirements early. Southern ports continue to export at a rapid pace whilst strong demand for feed grain continues to draw grain into northern Australia.

National Summary – Hay:

• The slowing demand for hay is now starting to impact prices which have eased in some regions, particularly in the eastern states.
• Hay growers are focussed on preparing their hay production areas for 2014 at present. Now is a good time for buyers with known fodder requirements to start talking to their hay suppliers about the 2014/15 season.
• There are reasonable supplies of lucerne silage available through North Central Victoria at present.
• WA has had a promising start to the hay growing season. There are some reports that cereal crops plantings intended for hay are down this year.

Northern Australia:

• Demand has slowed in the past few weeks.
• In many areas conditions can be best described as a green drought. Coming into winter there is limited feed available and with cattle weaning about to start in some areas we expect to see a surge in demand over the coming weeks.
• Supplies of hay in Queensland and NSW are low. Cereal hay can be sourced from SA and Victoria but lucerne supplies are short in most regions.
• Feedlots are full at present and have remained active buyers over the past few weeks.
• Many growers have taken the opportunity to bale sorghum stubble as a cheap source of fibre over the past few months. Supplies of sorghum stubble are good at present. With straw and most other lower grade fibre sources in short supply, buyers in need of roughage are encouraged to secure their needs now to avoid disappointment in the coming months.

Southern Australia:

• The market remains slow this week and prices have eased as a result.
• Buyers are currently utilising paddock feed and their own fodder supplies rather than buying hay. Demand will not pick up until temperatures cool off and paddock feed is in shorter supply.
• Supplies of lucerne hay are low and there is still some interest from northern buyers who are trying to secure their winter supplies.
• There is some lucerne silage still available.

Western Australia:

• Demand for cereal hay from dairy farmers and livestock producers in South West WA remains steady. Prices are unchanged this week.
• Pasture hay is very difficult to source with the 2013 hay harvest mostly used up by now.
• Straw supplies are above average and quality is good.

This report has been commissioned by Dairy Australia to provide an independent and timely assessment of grain and hay markets in each dairying region. It should be remembered that actual prices might vary for quality or other reasons. All prices are quoted are exclusive of GST.

The information in this report is collected and disseminated with due care and attention to its accuracy, but Dairy Australia accepts no liability if, for any reason, the information is inaccurate, incomplete or out of date.

• Mareeba May rainfall: 8mm (Ave: 11mm).
• YTD: 475mm (Ave: 718mm), compared to 696mm this time last year.
• 25 millimetres of rain again this week, which was useful, but areas around the tablelands did miss out.
• Wheat: $ -3 ($415 to $425). Slight drop in wheat prices this week as falls were expected when Indonesia booked new season wheat ex Soviet Union at $60 a tonne cheaper than Australian new season wheat offers.
• Barley: $ +3 ($481 to $491). Wheat is expensive already with barley currently sitting above due to its scarcity and the cost of freight up from southern QLD.
• Corn prices $ +0 ($345 to $355). Tablelands corn is available, but growers want to sell it at gritting prices. Best chance is for uncontracted, hence unpriced crops. Expect to pay close to milling or gritting prices unless the seed has technical faults.
• Sorghum: $ -4 ($339 to $349). Prices have dropped down based on the availability of new season crop from CQ. The price range delivered to Tablelands includes road freight up so any local Tablelands sorghum grown on poorer soils would be better buying.

• Demand has eased and is not expected to pick up again until weaning commences.
• Hay supplies are low after steady demand throughout the wet season.
• Wet weather has stopped hay production over the past few weeks. Baling will commence once the weather dries out.
• Rhodes grass: ($280-$300/t) prices remain steady this week.

• Toowoomba May Rainfall: 37mm (Ave: 36mm).
• YTD: 257mm (Ave: 360mm), compared to 799mm last year.
• Miles received rain from the storm of 20 millimetres this week and Dulacca received 17 however the majority of other places had nothing.
• Sown winter crops have established well and are now utilising soil moisture from the March rains. The main concern is El Nino forecasts for lower than normal rains, will commence in August when the crops will have bulked up and will require more moisture during the grain filling stages.
• Wheat: $ +0 ($389 to $399). World wheat markets are trading lower with aggressive selling of Russian wheat out of Black Sea ports.
• Feed Barley: $ +3 ($367 to $377). Old crop barley is priced at a correct discount to wheat however the wheat in this case is of high quality human consumption. Competition against flour millers or beef feedlots should be avoided.
• Corn $ +0 ($402 to $412). It is expensive against all other grain, but holders of the commodity will put it into storage to punt the price rising over winter months especially should El Nino predictions for August materialize. Downs corn harvest is still underway.
• Sorghum: $ +2 ($320 to $330). Late sown sorghum is coming off as the grain moisture is finally coming down. Frosts are the main grain moisture reducers, with the number of them being infrequent and light. The slight rise is to do with grower contracts to supply by the end of May, with any growers unable to deliver against these contracts washing out.

• Over the past few weeks we have seen the hay market slow and prices soften.
• Conditions in Queensland are patchy and can be described as a green drought in many regions. Bulk paddock feed is limited. With winter on its way and weaning about to start demand is expected to increase in the coming weeks.
• Feedlots are very busy and remain active hay buyers at present.
• Cereal hay: $-50 ($350-$400/t). Supplies are exhausted locally and hay is being sourced from South Australia and Victoria where there are still good supplies. Prices have eased due to softening market for cereal hay in Southern Australia.
• Lucerne hay: ($300-$350/t). Some new season lucerne hay has become available from regions such as the Lockyer Valley but supplies are low. Generally bulk lucerne is in short supply all over the country and is very difficult to source.
• Sorghum Stubble: ($140-160/t). There has been an increase in the amount of sorghum stubble baled in the past few months due to the high demand for roughage. Sorghum stubble can be sourced at present but will move quickly if demand picks up.
• Sorghum forage is also available in limited supply and is trading for around $250-$260/t DM.
• Straw: ($200- $220/t). Supplies are low as most straw was moved earlier in the year.

• Lismore May rainfall total: 31mm (Ave: 72mm).
• YTD: 398mm (Ave: 670mm), compared to 846mm this time last year.
• Not much rain around this week but roots of pastures are now deep enough to withstand a couple of weeks without rain.
• SFW Wheat: $ +0 ($408 to $418). World wheat markets are trading lower with aggressive selling of Russian wheat out of Black Sea ports. Wheat is scarce, mainly of human consumption and not ideal to be feeding to livestock.
• Feed Barley: $ +3 ($387 to $397). Barley old crop is priced at a correct discount to wheat but the quality is of human consumption so competition with flour millers and beef feedlots will be high.
• Corn $ +0 ($362 to $372). Prices remained steady but it is still very expensive compared to other commodities. Holders of corn will put it into storage to punt the price over winter months. Downs corn harvest continues with the North coast crops late and may not make gritting category.
• Sorghum: $ +2 ($360 to $370). Slight increase in price as grower contracts to supply by the end of May having to be washed out. Late sown Downs crops are coming off as the grain moisture levels come down.

• Demand remains steady and won’t pick up until cattle weaning starts. Most local livestock producers are trying to save cash by not purchasing fodder at present.
• Buyers in the New England remain active, sourcing what-ever fodder they can find in preparation for winter.
• Cereal Hay: -$50 ($350-$400/t). Cereal hay prices eased slightly this week which is due to the softening market for cereal hay in Southern Australia. Local supplies are low and cereal hay is being sourced from Victoria and South Australia.
• Lucerne hay: -$50 ($300-$400/t). Lucerne hay is very difficult to source and trading is limited as a result. The quality of new season hay varies. Prices have eased slightly based only on the quality of hay available.
• Straw: ($200-$250/t). Straw supplies are very low. Buyers are seeking fibre to supplement the green pick.
• Pasture hay: -$15 ($250-260/t). Pasture hay is available at present but supply is below average for this time of year. New season hay quality is variable.

• Forbes May rainfall: 30mm (Ave: 31mm).
• YTD: 314mm (Ave: 178mm), compared to 186mm this time last year.
• Conditions for winter crops has been excellent, canola crops have been seeded earlier than normal and have responded well to the warmer than normal temperatures.
• SFW Wheat: $ +3 ($283 to $293). World wheat markets are trading lower with aggressive selling of Russian wheat out of Black Sea ports. The low supply and high milling quality means that for this region in particular and all areas north of it are firmly priced.
• F1 Barley: $ +0 ($252 to $262). Feed barley is still available locally with the price discount to wheat suggesting that it may be retained a lot longer this year. It is cheaper than wheat and sorghum when considered locally supplied and the appropriate road freight is deducted off. Barley demand for southern QLD is more focused on the Wagga region than here because Wagga is on a more active truck flow each way.
• Corn $ +0 ($405 to $410). Corn crops locally and in other irrigation areas of NSW are coming off now. Crops that are not under hectare or tonnage contracts are being put into grower silos to await the developments of the El Nino spring drought, or its failure to arrive.
• Sorghum $ +3 ($346 to $356). Sorghum crops coming off in the Liverpool plains are yielding lower than expected and many crops are not making SOR 1 or SOR 2 category. This inflicts the growers meaning they are not acceptable under the main trade contracts, which will cause some washing out of May delivery contracts. Probable reason for small price lift.

• Local demand has eased but there is still interest from buyers in Northern and Western NSW. Some prices have eased due to slower trading over the past few weeks.
• All hay supplies across NSW are low. Most hay in sheds is already under contract.
• Cereal hay: -$35 ($280-$300/t). Prices have eased due to softening market in Southern Australia, where cereal hay is being sourced. Locally supplies of cereal hay are very low.
• Lucerne hay: – $25 ($350-$400/t). Supplies are low and most hay in sheds is under contract. Lucerne hay is difficult to source right across the country.
• Straw: ($140-$160/t). Demand has eased after the autumn break but may pick up coming into winter.
• Pasture hay: (220-$280/t). There are no reports of pasture hay trading this week due to low supply.

• Bega May rainfall total: 8mm (Ave: 48mm).
• YTD: 251mm (Ave: 312mm), compared to 224mm this time last year.
• The region had no rain this week and only light rain for the two weeks prior.
• SFW Wheat $ +2 ($294 to $304). World wheat markets are trading lower with aggressive selling of Russian wheat out of Black Sea ports. The wheat prices are being held due to firm domestic needs as the old crop supply is running low and what is left if high milling quality. This is right through the whole region and all of NSW areas north of Temora.
• Feed barley $ +0 ($259 to $269). The discount in price is now $35 a tonne and now has a clear price advantage over wheat.
• Triticale $ +0 ($279 to $289). New crops have been sown to hopefully allow for a long growing season in the southern slopes of NSW and north eastern VIC.
• Oats: $ +0 ($270 to $280). It has been a month since a price rise, remaining steady due to pasture growing conditions improving over a wide area of south eastern Australia.

• Demand is steady at present but will pick up in the coming weeks. The region saw a good autumn break but is in need of follow up rain now.
• Cereal hay: -$40 ($260-$280/t). Prices have eased slightly, driven by the easing demand from Northern Australia.
• Lucerne Hay: -$25 ($300-$350/t). The market for lucerne hay is also steady but supply is low, with very tight supplies forecast throughout winter.
• Straw ($180-$200/t). Demand for straw remains steady and supplies are good.
• Pasture Hay ($160-$180/t). There are limited reports of pasture hay being traded at present. Many dairy farmers are using their own stocks of pasture hay and silage before purchasing hay.

• Tatura May Rainfall total: 48mm (Avg: 45mm)
• YTD: 197mm (Ave: 182mm), compared to 111mm this time last year.
• Rain was welcome with Kyabram recording 41 millimetres, Wangaratta 29 and Kerang 16. Crops through Victoria have had a good start, with some growers holding off completing their wheat sowing until June.
• Wheat: $ +3 ($288 to $298). Wheat prices are firmer this week for lower grades of APW and ASW. They are filing 70/10 contracts but in fact are of milling quality. Try to avoid the competition for old crop wheat as until the new harvest starts domestic flour millers and exporters will want it.
• F1 Barley: $ +0 ($242 to $252).
• Triticale: $ +0 ($260 to $270). Current relative grain pricing between wheat and barley means triticale has to be priced closer to barley to expect any early winter take up. Pricing relative to barley may drop come June.
• Feed Oats: $ +0 ($240 to $250). Feed oat prices have remained steady for a month now, with no fresh buying interest from grazing industries. Main demand is from the poultry industry.

• Demand is steady as many buyers are using their own feed before purchasing fodder. Good water allocations this year seen an increase in silage production through autumn, and warmer temperatures have assisted pasture growth.
• In some areas conditions are quite damp, causing increased interest in high grade cereal hay.
• Good quality hay is becoming difficult source.
• Cereal hay: -$20 ($180-$220/t). Prices have eased slightly due to decreasing demand from northern Australia. Supplies are good throughout Northern Victoria. There is some variation on price due to variable quality of cereal hay available.
• Lucerne hay: -$20 ($280-$320/t). Demand has eased slightly in the past few weeks and there is now some buyer resistance above $300/t. Supplies are low and will remain tight throughout winter. There are reasonable supplies of lucerne silage available through north Central Victoria at present.
• Straw: ($90-$110/t). There are good supplies of straw locally but a large amount is already under contract.
• Pasture hay: ($150-$200/t). There are minimal reports of pasture hay trading due to good paddock feed being available. Some silage is available.

• Sale May rainfall: 28.4mm (Ave: 52mm).
• YTD: 157mm (Ave: 237mm), compared to 160mm this time last year.
• Gippsland continues to have a standout autumn due to regular rain.
• SFW Wheat: $ +3 ($319 to $329). Wheat prices for low quality wheat firmed despite international values pushing high-grade human consumption higher.
• Barley: $ +0 ($284 to $394). The $38 a tonne discount to wheat is not normal and should sit around $20-$25.
• Triticale: $ +0 ($302 to $312). Triticale in the northeast is being held at this time rather than being offered. With a lot of growing feed in the northern areas ahead of the winter for cattle, triticale may need to be priced closer to barley than wheat.
• Feed Oats: $ +0 ($258 to $268). Feed oat prices have been steady for a month now.

• Demand is slow due to unseasonably warm temperatures and good available paddock feed. Buyers are utilising their own feed supplies before purchasing fodder.
• Demand will not pick up until temperatures cool off.
• Cereal hay: ($240-$260/t). Supplies are good in Northern and Western Victoria. High grade cereal hay is difficult to source and buyers are encouraged to get a feed analysis done prior to purchasing hay this year.
• Lucerne hay: ($300-$320/t). Supply is low throughout Victoria and demand remains steady. Vetch is difficult to source and where it can be found quality is variable. Some lucerne silage or haylage is available from producers in Northern Victoria who have just finished their final cut for the year.
• Straw: ($100-$120/t). Some straw is available in Gippsland but quality is variable. Gippsland buyers seeking straw are sourcing it from North Central and Western Victoria.
• Pasture hay: ($180-$220/t). Demand is slow due to good supplies on farm locally. There is a very small amount of trade between farms.

• Port Fairy May rainfall: 79 mm (Ave: 69mm).
• YTD: 267mm (Ave: 224mm), compared to 228mm this time last year.
• SFW1 Wheat: $ +2 ($282 to $292). ASW1 and APW1 wheat grades are being bid higher from the major exporters. Feed wheat is not as readily available and being priced closer to higher quality grades.
• Feed Barley: $ -1 ($238 to $248). Discount of barley to wheat is still very high compared to past years.
• Triticale $ +0 ($260 to $270). Triticale is being held at this time of year rather than being offered.
• Feed oats $ +0 ($249 to $259). Feed oat prices have been steady for around a month now.
• Ideal sowing conditions have resulted in everything being sown germinating quickly.

• Demand for hay is slow. Good pasture feed is still available and buyers are opting to utilise pastures rather than buying hay.
• In 2014 many buyers have been active in securing their hay supplies early. Those who did will benefit from access to good quality hay. High-grade hay is now becoming difficult to source.
• Cereal hay: ($180-$200/t). After easing last week prices remain steady this week. There are good stocks of cereal hay still available in North Western Victoria.
• Lucerne hay: ($280-$300/t). Demand has eased but prices remain steady due to low supplies of lucerne hay throughout Southern Australia. In general supplies are much lower than usual for this time of year and will be tight through winter.
• Straw: ($110-$120/t). Prices and demand remain steady this week. Some straw is available locally and quality is variable.
• Pasture hay: ($160-$200/t). There are still good supplies of pasture hay available locally but high-grade pasture and clover hay is difficult to source.

• Mount Gambier May rainfall: 106.2mm (Ave: 71mm).
• YTD: 259mm (Ave: 213mm), compared to 151mm this time last year.
• Wheat $ +2 ($306 to $316). Wheat prices are being driven by exporters, mainly for bulk shipments, but also a number of buyers are taking wheat up country and packing it into containers. All remaining wheat is of human consumption quality with no weather or quality damaged wheat remaining.
• Feed barley $ +1 ($273 to $283). Is proving to be the most heavily demanded commodity at the moment for end users. The $35 discount to wheat will see it continue to be a favourable commodity for purchase.
• Triticale $ +0 ($288 to $298). Triticale is being held with prices adjusted at this time, more than the holders (merchants and growers) wanting to make early sales.
• Oats $ +0 ($240 to $250). The poultry industry is the only reported buyer of feed oats currently. Demand from buyers at this time of year is traditionally low and will pick up as winter kicks in.

• Trading remains slower than average for this time of year, which is expected to continue until the weather cools off.
• With hay producers making decisions on their 2014 hay production areas now it’s a good time for buyers with known fodder needs to talk to their suppliers.
• Cereal Hay: -$40 ($140 -$150/t). With demand still slow prices have eased further this week.
• Lucerne: ($280-300/t) Prices remain steady as trading is slow. Supplies are limited and may run short in winter. There are still some enquiries from Northern buyers who are attempting to secure winter hay supplies.
• Straw: ($110-$120/t). Straw supplies are low due to steady demand through autumn. With demand now easing there has been little change in prices over the past few weeks.
• Pasture Hay: ($140-$160/t). There is limited trading of pasture hay at present.

• Murray Bridge May rainfall: 33mm (Ave: 35mm).
• YTD: 176mm (Ave: 117mm), compared to 88mm this time last year.
• Useful rains this week saw Victor Harbor receive 18mm and Parawa 31mm. With no rain in the last two weeks this week’s downfall was ideal for grain growers.
• Wheat $ +1 ($269 to $279). Only a minor change to wheat prices this week. South Australian port prices for wheat have been consistently below that of Melbourne.
• Feed barley $ -2 ($254 to $264). Feed barley price is down increasing the spread to wheat values. The price difference remains outside the traditional $20-$25 a tonne.
• Triticale $ +0 ($255 to $265). Triticale trading quantities are minimal at this point. Sellers are reluctant at this time of year and are seemingly happy to wait until the middle of winter. With the discount to wheat currently only $15 a tonne if this margin gets any smaller it may encourage further purchases.
• Feed Oats $ +0 ($188 to $198). There is minimal demand for feed oats currently. The poultry industry is the only industry with a requirement for oats at this time of year.

• There hasn’t been a lot of movement in hay this week due to the continued mild conditions and slow demand. This situation is not likely to change until conditions get cold and wet, driving demand from livestock and dairy producers.
• Right now hay producers are focusing on getting the crop in. With hay producers making decisions on their 2014 hay production areas it’s a good time for buyers with known fodder needs to talk to their suppliers.
• Cereal Hay: ($150-$200/t). Prices remained steady this week due to minimal trading. Most cereal hay on the roads in this region is probably headed to an export facility, already contracted from the 2013 harvest.
• Lucerne hay: +$55 ($300-$330/t). Supplies are low and lucerne is being sourced from outside the region to meet demand. Interestingly while lucerne is coming into this region, there are interstate buyers looking to Central SA to purchase lucerne.
• Straw: ($120- $130/t). There has been little movement in price over the past month. Supplies are good and demand is slow at present.
• Pasture hay ($180-$200/t). Some clover/medic hay of mixed quality is moving but trading is limited.

• Bunbury May rainfall: 218mm (Ave: 96mm).
• YTD: 246mm (Ave: 165mm), Compared to 201mm this time last year.
• Another set of heavy rains received this week with Harvey receiving 45mm and Harvey 95mm. Rains over the last week have proven timely for both the WA cropping program and dairy farms alike.
• Wheat $ +0 ($334 to $344). Wheat price continues unchanged for the past five weeks.
• Barley $ -5 ($295 to $305). Domestic buyers have again lowered prices. General heavy rains this week across the state seemed the sole reason for this movement.
• Triticale $ +0 ($310 to $320). Strong interest is being shown for non-export quality triticale if buyers can get it at a substantial discount to current wheat values.
• Oats $ +10 ($230 to $240). No need for the feed oats to be fed to sheep any more now that the recent rains in south have brought out natural feed on the non-cropped grazing county.
• Rain received this week represents a perfect start for WA grain growers. July is a very reliable rainfall month for WA cropping regions and there is already enough moisture to last until then.

• Hay trading on the domestic market remains steady with cereal hay in demand. Dairy farmers in the South West are the most active buyers.
• Good rain in the past few weeks has benefitted hay growers who are very optimistic about the season so far.
• Cereal hay: ($180-$220/t). Supplies of cereal hay are good this year.
• Lucerne hay: ($500-$550/t). There is limited lucerne hay available and therefore limited trading.
• Straw: ($90-$120t). Prices remain steady. Production was above average this year and supplies are good.
• Pasture hay: ($140-$160/t). Pasture hay is very difficult to source due to the lower yields in 2013 and high demand through summer and autumn.

• Smithton May rainfall: 78mm (Ave: 80mm).
• YTD: 280mm (Ave: 264mm), Compared to 222mm this time last year.
• Tasmanian dairy conditions remain excellent with another 20 to 40mm of rain received this week complimenting falls received a fortnight ago.
• Wheat $ +3 ($365 to $375). Most of the mainland wheat supply to Tasmania is now hard red wheat. Prices firmed this week with strong demand from end users on the mainland. The small rise was despite international values falling in the last week.
• Feed barley $ +0 ($329 to $339). Proving the most liquid commodity within the market on the main island. Dairy demand has gradually increased over the last month for feed barley.
• Triticale prices $ +0 ($339 to $349) Triticale sales are minimal at this point in time with suppliers willing to wait until demand increases through the middle of winter.
• Oats prices $ +0 ($322 to $332). Basic feed oat prices have been unchanged for the last month now. Trading quantities are minimal with the poultry industry seemingly the only buyer.

• Unlike most other regions Tasmania has seen some cooler conditions causing increased interest in hay.
• If demand increases in the coming weeks we would expect to see a slight increase in hay prices.
• Cereal hay: ($220-$240/t). There are limited reports of trading. Supplies are low and quality is variable.
• Lucerne hay: ($280-$320/t). Supplies are low and sourcing lucerne hay will be difficult throughout winter.
• Straw: ($135-$145). There is some straw available in the Northern midlands. Dairy farmers and feedlots are the most active buyers
• Pasture hay: ($150-$200/t). Supplies are good. Quality is variable due to the patchy weather conditions during the hay season.