Grain – Hay Report – 6 June 2014

International & National Summary – Grain:

International Markets

• In a favourable trend for consumers international wheat futures have continued to push lower this week. Since our last report the price of CBOT wheat futures has fallen A$13/t as more risk comes out of the market and the wheat harvest in the southern US plains commences. Its not unknown for the US harvest period to put downward pressure on global wheat prices as large quantities of supply enter the market. Since wheat values peaked in early May futures values have declined A$40/t in little over a month.
• With no bullish news pushing the market higher it appears international values look set to grind lower in the short term. However It is important to remember that if any global concerns emerge over production or quantity, market sentiment can change quickly. US weather conditions, which have continued to guide the market, remained relatively unchanged.
• As the global crop begins to take shape the market will focus on fundamental drivers. Any differences between actual yields and current production estimates for US and European winter harvests will have the potential to cause price fluctuation in the coming months. If yields fall below expectations it could drive prices higher. Alternatively if production is greater than current estimations then it is reasonable to expect that further downward pressure will be applied to international wheat values.

Domestic Markets

• In the north of Australia old and new crop values slid throughout the week chasing international values down. Anecdotally we are hearing that the majority of trades occurring are for deferred delivery with most end users having reasonable cover for now. Strong consumptive demand for feed grains across the east coast will prevent any significant price relief. Until the NW NSW and Southern Queensland dry seasonal outlook changes a price premium will likely remain.
• A lack of immediate demand saw Sorghum delivered Darling Downs fall $10/t to $305/t over the week and Brisbane was down $17/t to $316/t. This is primarily through a lack of current demand. There is very little sorghum entering the bulk handling system as growers target ex-farm and delivered markets. Stained and off grade Sorghum continues to be prevalent in the Liverpool plains. It may present an opportunity to purchase required sorghum rations at a discount. With most feed 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 values were softer this week, delivered wheat values falling $10-15/t in Melbourne and Riverina. Rain dampened domestic demand, leaving the trade merchants as the only buyers, which thinned liquidity.
• Barley markets in the southern states of Australia also fell this week but values are continuing to hold up firm against wheat. The spread to wheat is now at around $25-30/t dropping from $45/t a month ago. Barley is proving more accessible with large quantities remaining on farm. Easy access to potential supply could see barley prices hold firm in the coming months.
• 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:

• There has been little movement in the hay market this week, after prices softened in some regions last week.
• The unseasonably warm temperatures and available paddock feed in many regions is impacting the demand for hay, which is slow.
• In Tasmania where conditions are cooling off demand for fodder has picked up over the past few weeks and remains steady this week.
• Across the country high grade hay is becoming difficult to source. Most high grade hay in storage is already under contract.
• Lucerne hay in small square bales is in short supply through NSW and Victoria. Following strong demand for bulk lucerne hay earlier this year many growers opted to bale lucerne hay in large squares as opposed to small squares through autumn.

Northern Australia:

• Demand has slowed in the past few weeks but remains steady. Demand will pick up again when temperatures cool down and paddock feed becomes short in supply.
• Supplies of hay in Queensland and NSW are low. Cereal hay can be sourced from SA and Victoria but lucerne hay supplies are short in most regions.
• Some low grade fodder is still being baled. This includes; sorghum stubble, Rhodes grass hay and some silage. Feedlots are active buyers.

Southern Australia:

• The market remains slow in most regions, prices remain fairly steady this week but could ease further in the coming weeks if temperatures stay warm.
• Buyers are utilising good paddock feed and their own fodder supplies rather than buying hay at present.
• Supplies of lucerne hay are low and there is still some interest from northern buyers who are trying to secure their winter fodder supplies.
• Sowing is well underway for the 2014 cereal hay crop. Growers are reporting an excellent start to the season so far.

Western Australia:

• Sowing is well underway in Western Australia and growers are reporting a good start to the season.
• 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.

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• Mareeba June rainfall: 0mm (Ave: 8mm).
• YTD: 475mm (Ave: 726mm), compared to 699mm this time last year.
• Only 6 millimetres of rain this week after 25 last week with cropping activities in the area now reliant on irrigation for the rest of winter.
• Wheat: $ -10 ($405 to $415). After a minor drop last week, wheat prices have well and truly tumbled this week. This may possibly be overkill, given that all wheat currently in CQ storage is of high milling quality and may fill premium export markets. The Black Sea export wheat is low quality protein and thus it is not going to the same markets as the high protein wheat stored in CQ.
• Barley: $ -6 ($475 to $485). Wheat is currently more expensive than CQ sorghum trucked in thus sorghum presents itself as the cheapest feed grain for tablelands use. With barley being more expensive than wheat its lost a little pace in the market.
• Corn prices $ -5 ($340 to $350). Down in line with all other commodities but holders of corn in all production districts are awaiting market developments. This price is based on purchases of local gritting corn.
• Sorghum: $ -7 ($332 to $342). In line with other feed grain drops, prices for CQ new crop sorghum is down again. There was a spike in sorghum prices towards the end of May as growers with delivery contracts were unable to execute and had to seek grain to wash contracts out.

• Demand for hay 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 slowed 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 June Rainfall: 8mm (Ave: 38mm).
• YTD: 265mm (Ave: 398mm), compared to 807mm last year.
• Unfortunately rains in NSW this week did not really come north of the border but eastern Darling Downs received 10-13 millimetres. The western Downs received less rain this week and back in March, so the yield prospects for the west are poorer.
• Currently there is enough soil moisture for the winter requirements however the area will be looking for a significant rain event when crops are running up and finishing.
• Wheat: $ -18 ($371 to $381). Wheat prices are down following international market dropping due to the winter wheat harvest in the northern hemisphere starting up. This price drop hasn’t been matched by similar falls in southern Australia.
• Feed Barley: $ -6 ($361 to $371). Prices are down but the fall isn’t as great as other commodities. There is an expected Downs and Tamworth feed barley demand to continue till October when the first northern crop starts to come in. There is a fair bit of action happening down in the Wagga region, trucking barley up north.
• Corn $ -5 ($397 to $407). Corn crops have just been stripped in the irrigated areas of southern SNSW and Victoria, as well as in northern irrigation and Downs’s dry land areas. The value of corn is so high that it can be trucked long distances, such as Atherton to the Downs. Prices have slightly dropped but holders are playing the waiting game.
• Sorghum: $ -20 ($300 to $310). Sorghum prices have been taken from Downs’ stockfeed merchants earlier this week. It is yet to be seen if these lower bid attract any tonnes from new sellers. With the new financial year on the horizon it is suspected that most growers will hold for a while, unless they have pressing need for cash.

• Conditions in Queensland are patchy and can be described as a green drought in many regions. Bulk paddock feed is limited.
• The hay market remains steady this week.
• Hay supplies are low and will come under pressure when demand picks up.
• Contractors are still baling with interest in stubble and low grade pasture hay. Feedlots are active buyers behind the baler.
• Cereal hay: ($350-$400/t). Cereal hay is being sourced from South Australia and Victoria where there are still good supplies. Demand has eased over the past few weeks. Prices remain steady this week but have eased in the past few weeks.
• Lucerne hay: ($300-$350/t). Lucerne hay supplies are low. Generally bulk lucerne (large square or round bales) is in short supply all over the country. Prices remain steady and are unlikely to ease until new season hay becomes available later this year.
• Sorghum Stubble: ($140-160/t). Sorghum stubble can be sourced at present but will move quickly if demand picks up. Quality is low.
• Straw: ($200- $220/t). Supplies are low as most straw was moved earlier in the year.
• Pasture hay: ($160-$180/t). Small quantities of pasture hay have become available in the past few weeks. Quality is low.

• Lismore June rainfall total: 9mm (Ave: 115mm).
• YTD: 409mm (Ave: 785mm), compared to 847mm this time last year.
• Northern Rivers had 20 millimetres of rain this past week with the mid north coast areas between 20-40mm.
• SFW Wheat: $ -18 ($390 to $400). Lower wheat prices are largely due to the start of the winter wheat harvest in the northern hemisphere.
• Feed Barley: $ -6 ($381 to $391). There is an expected Downs and Tamworth demand for feed barley until October when the first of the northern new crop barley comes in.
• Corn $ -5 ($357 to $367). Corn stripping has begun in the irrigated areas of southern NSW and Victoria, as well in northern irrigation areas and some downs dryland areas. Corn has such value that is can be trucked long distances. This price range is based on locating local coastal feed corn.
• Sorghum: $ -20 ($340 to $350). Sorghum prices have been taken from Downs’ stockfeed merchants earlier this week. It is yet to be seen if these lower bids attract any tonnes from new sellers. With the new financial year on the horizon it is suspected that most growers will hold for a while, unless they have pressing need for cash.
• Grain prices have dropped sharply across the board, remember that the freight component in grain prices does not change and thus seeking locally should be looked into.

• Demand remains steady due to warmer than average temperatures for this time of year.
• It is expected the hay market will pick up when temperatures cool off. Most local buyers are trying to save cash by not purchasing fodder at present.
• Late rain in autumn has caused a late flush of green feed in some areas. Growers are taking the opportunity to bale silage in preparation for winter.
• Cereal Hay: ($350-$400/t). Local supplies are low and cereal hay is being sourced from Victoria and South Australia. Prices remain steady this week
• Lucerne hay: ($300-$400/t). Lucerne hay is very difficult to source and trading is limited as a result. Prices remain steady.
• Straw: ($200-$250/t). Straw supplies are very low. Buyers are seeking fibre to supplement the green pick but may need to look for low grade pasture hay as an alternative to straw.
• Pasture hay: -$45 ($200-220/t). Pasture hay is available in small quantities. Quality is low. Prices eased this week reflecting the quality of the pasture hay available.

• Forbes June rainfall: 60mm (Ave: 52mm).
• YTD: 374mm (Ave: 229mm), compared to 252mm this time last year.
• It was a great autumn for farmers managing dryland pasture and 2014 winter crops. Some areas received up to 72 millimetres this week, which was great for sown crops. If any water logging damage on recently emerged crops has occurred this is the time to reseed the affected areas. Canola crops have emerged and established well and at this stage have excellent yield prospects.
• SFW Wheat: $ -10 ($273 to $283). World wheat prices have been coming back as the early northern hemisphere winter wheat crops are stripped. Sales of Russian wheat out of the Black Sea ports are being made to Middle East markets and recently to Indonesia, Australia’s main wheat market. Sales to Indonesia for new crop wheat have been some $A60 a tonne cheaper than the last sales of Aussie old crop wheat. This region is currently not exporting however the quality of wheat produced here is suited to Indonesian preferences.
• F1 Barley: $ -6 ($246 to $256). Barley prices have dropped in this area more than the southern dairy areas. While there is old crop barley to be bought here from both growers and trader stocks, there is more active road freight operating out of the Wagga area, hence the barley prices here are weaker than in eastern Riverina.
• Corn $ -5 ($400 to $410). Corn stripping has begun in the irrigated areas of southern NSW and Vic. Prices have dropped $5 but are still higher than either barley or wheat in this dairy region. Corn and sorghum prices to this region carry a road freight if any local supplies of irrigated corn or sorghum appear, deduct a freight component of around $40 a tonne.
• Sorghum $ -4 ($342 to $352). Sorghum harvest continues at a slow pace in the north for late sown crops. The grain moisture is taking time to come down and is not being helped by rain in the northern areas this past week. Frosts at night are the easiest and cheapest way to lower the moisture, but to date frosting has been light.

• Local demand has eased but there is still interest from buyers in Northern and Western NSW.
• All hay supplies across NSW are low. Most hay in sheds is already under contract.
• There is increased interest in planting cereal crops for hay this year driven by the steady demand over the past 6 months.
• Cereal hay: ($280-$300/t). Prices remain steady. Local cereal hay supplies are very low and trading is limited as a result.
• Lucerne hay: ($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 June rainfall total: 51mm (Ave: 55mm).
• YTD: 306mm (Ave: 367mm), compared to 226mm this time last year.
• SFW Wheat $ -10 ($284 to $294). World wheat prices have slowly been coming back as the early northern hemisphere winter wheat crops are being stripped. Sales of Russian wheat out of the Black Sea ports are being made to Middle Eastern markets and recently to Indonesia, Australia’s main wheat market. Sales to Indonesia for new crop wheat have been some $A60 a tonne cheaper than the last sales of Aussie old crop wheat. Notwithstanding, Australian old crop wheat is of superior quality, but the quality risk will be factored into the price.
• Feed barley $ -4 ($255 to $265). Barley prices haven’t come down as sharply as wheat; this is due to apparent unfilled barley demand for feedlots in northern NSW and QLD. The Wagga area is currently the main sourcing region as it has on farm supples and there is a very active road freight market operating both ways.
• Triticale $ -10 ($269 to $279). Triticale is priced against wheat and its main demand comes from the dairy and pig industry. It is not an export grain, and finds few markets in northern NSW, even though drought conditions are prevalent.
• Oats: $ +0 ($270 to $280). There is plenty of feed for sheep and beef cattle in the south east areas of NSW, hence the low demand for feed grade oats; but no price slip evident. There is still a drought in north west NSW and if any oats are needed through winter, or later, the supply areas will be central and southern NSW.

• Demand is slowly starting to increase. Prices remain steady this week.
• There is some interest in purchasing straw and also silage.
• Cereal hay: ($260-$280/t) Prices have eased slightly over the past few weeks but remain steady coming into winter.
• Lucerne Hay: ($300-$350/t). The market for lucerne hay is also steady but supply is low. Very tight supplies are forecast throughout winter.
• Straw ($180-$200/t) Demand for straw remains steady and supplies are starting to come under pressure.
• 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 June Rainfall total: 44mm (Ave: 44mm)
• YTD: 241mm (Ave: 226mm), compared to 135mm this time last year.
• Heavy rains through northern Vic this week with Kyabram, Tatura and Shepparton all receiving around 50 millimetres. The irrigation areas rainfalls were good, but not so good for the Wimmera, where the growers want it more especially with the El Nino event that is, according to BOM, at a 70% likelihood of occurring.
• Wheat: $ -12 ($276 to $286). World wheat prices have slowly been coming back as the early northern hemisphere winter wheat crops are being stripped. Sales of Russian wheat out of the Black Sea ports are being made to Middle Eastern markets and recently to Indonesia, Australia’s main wheat market. Sales to Indonesia for new crop wheat have been some $A60 a tonne cheaper than the last sales of Aussie old crop wheat. Notwithstanding, Australian old crop wheat is of superior quality, but it still has to find buyers.
• F1 Barley: $ -4 ($238 to $248). Barley prices are down, but not as much as might be expected from lower prices of Black Sea barley to Middle Eastern destinations. Main reason for a partial fall is the demand for feed barley to go to southern QLD and northern NSW feedlots; however this market is being fed with Wagga barley not northern Vic barley so perhaps more fall is to come.
• Triticale: $ -5 ($255 to $265). With wheat and barley prices both down this has a direct effect on the value of triticale, as its price must reflect relative feeding values for cows. This does not mean that northeast growers and country merchants are necessarily sellers at this time.
• Feed Oats: $ -3 ($237 to $247). Very few trades in feed grade oats but with sharp falls in feed grain prices feed oat prices must also come down, unless a contrary reason can be found. Better quality oats have a good market to horses in the Strathbogie Ranges.

• Demand is steady as many buyers are using their own feed before purchasing fodder. Good water allocations gave many farmers an option to bale silage throughout autumn, increasing their on farm fodder supply.
• Sowing is well underway and growers are reporting favourable conditions for the start of the season.
• Good quality hay of any variety is becoming difficult source.
• Cereal hay: ($180-$220/t). Limited trading has impacted prices over the past few weeks. After softening towards the end of May prices remain steady this week.
• Lucerne hay: ($280-$320/t) Demand has eased slightly in the past few weeks. Supplies are low and will remain tight throughout winter.
• Lucerne hay small squares ($10-$15/bale). There is increasing demand for lucerne hay in small squares. Many buyers opted to cut bulk lucerne hay (large squares or round bales) through autumn due to the strong demand. This trend has impacted the supply of lucerne hay in small squares.
• Straw: ($90-$110/t) there are good supplies of straw locally but a large amount is already under contract. Supplies could come under pressure later in the year.
• 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 June rainfall: 22.4mm (Ave: 48mm).
• YTD: 180mm (Ave: 285mm), compared to 175mm this time last year.
• The majority of the Gippsland region received 20 to 30mm throughout the week.
• SFW Wheat: $ -12 ($310 to $320). Wheat prices have dropped significantly over the last week. International values have put downward pressure on local domestic prices. The commencement of the US winter harvest is putting pressure on global prices as large quantities of wheat hit the market.
• Barley: $ -4 ($280 to $390). Barley prices have fallen heavily but not yet to the extent that wheat did. Anecdotal reports suggest large quantities are still being stored on farm. The surety of supply is increasing the demand from end users.
• Triticale: $ -5 ($296 to $306). Triticale prices have followed the movements of both wheat and barley.
• Feed Oats: $ -3 ($255 to $265). Feed oats have rarely been trading. The price drop is reflective of the movement in both wheat and barley prices instead of fundamental demand and supply.

• Demand is slow due to unseasonably warm temperatures and good available paddock feed. Buyers are utilising their own feed supplies before purchasing fodder at this stage.
• Demand will not pick up until temperatures cool off. If warmer temperatures and intermittent rain continues through winter there may be an unusually low demand for fodder this year.
• Cereal hay: ($240-$260/t) Supplies are good in Northern and Western Victoria. High grade cereal hay is difficult to source. Prices remain steady due to limited trading.
• 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.
• 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 June rainfall: 4.6 mm (Ave: 83.7mm).
• YTD: 271mm (Ave: 308mm), compared to 237mm this time last year.
• Rainfall through the key cropping regions of the area was about 10mm on average. While the rains aren’t heavy they will be instrumental in establishing this years cropping program.
• SFW1 Wheat: $ -12 ($270 to $280). Wheat prices have dropped significantly over the last week. International values have put downward pressure on local domestic prices. The commencement of the US winter harvest is putting pressure on global prices as large quantities of wheat hit the market.
• Feed Barley: $ -4 ($234 to $244). Barley is sharply down this week but not to the extent to which wheat fell. This is partly due to some end user buying adding to demand in the area.
• Triticale $ -5 ($255 to $265). Triticale prices have followed the movements of both wheat and barley.
• Feed oats $ -3 ($246 to $256). Feed oats have rarely been trading. The price drop is reflective of the movement in both wheat and barley prices instead of fundamental demand and supply changes.
• Ideal sowing conditions have resulted in everything being sown germinating quickly.

• Demand for hay is slow. With good paddock feed and on farm fodder supplies still available buyers are opting to utilise pastures rather than buying hay.
• High grade hay of any variety is now becoming difficult to source. In particular vetch, lucerne and cereal hay of good quality is hard to find.
• 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 but quality varies.
• Lucerne hay: ($280-$300/t). 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 June rainfall: 3.6mm (Ave: 83.6mm).
• YTD: 266mm (Ave: 297mm), compared to 162mm this time last year.
• Wheat $ -12 ($294 to $304). Wheat prices have dropped $10-12 across the country due to international values coming off. South Australian remains the cheapest priced port for wheat when comparing to historical averages. In a reprieve for consumers, prices have come off $30-40 in the last month.
• Feed barley $ -8 ($263 to $273). Is proving to be the most heavily demanded commodity at the moment for end users. The $30 discount to wheat will see it continue to be a favourable commodity for purchase.
• Triticale $ +0 ($288 to $298). No change in fundamental supply and demand has left triticale unchanged.
• Oats $ -5 ($235 to $245). Minimal demand is seeing the growers drop prices in an attempt to find willing buyers. Expect demand to increase as winter commences.

• Trading remains slower than average for this time of year, which is expected to continue until the weather cools off.
• High quality hay of most varieties is becoming difficult to source.
• Cereal Hay: ($140 -$150/t). With demand remaining slow prices are unchanged 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 June rainfall: 19mm (Ave: 38mm).
• YTD: 198mm (Ave: 155mm), compared to 157mm this time last year.
• Wheat $ -11 ($258 to $268). International values have come off across the nation. As a flow on effect domestic value have had to adjust. US winter harvest pressure is pushing down international values.
• Feed barley $ -12 ($242 to $252). Barley prices have come off further than what wheat did. These numbers represent public merchant bids. Anecdotal evidence suggests barely is trading slightly higher than public numbers.
• Triticale $ -5 ($250 to $260). 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. The discount to wheat is currently only $8 a tonne. If this margin gets any smaller it may encourage further purchases.
• Feed Oats $ -5 ($183 to $193). 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. Feed oats has followed wheat and barley down in price.

• Demand remains slow this week. The market for hay is not likely to pick up until conditions get cold and wet, driving demand from livestock and dairy producers.
• Demand from northern buyers has slowed in the past few weeks but may pick up again in the coming weeks.
• Right now hay producers are focusing on getting the 2014 crop in. With hay producers making decisions on their 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.
• Lucerne hay: ($300-$330/t). Supplies are low and lucerne is being sourced from outside the region to meet demand.
• 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 available but trading is limited.

• Bunbury June rainfall: 4.4mm (Ave: 145mm).
• YTD: 250mm (Ave: 310mm), Compared to 228mm this time last year.
• More heavy rains across WA tops off an impressive month of winter rainfall.
• Wheat $ -10 ($334 to $344). Falls in the international wheat market have been passed onto local domestic prices. WA wheat prices are heavily impacted by international values due to the heavy export program.
• Barley $ -5 ($295 to $305).
• Triticale $ -10 ($310 to $320). Triticale prices are lower, as main buyers adjust their buying prices to fit the lower wheat price regime. Confirmed trades are still few and far between.
• Oats $ +0 ($230 to $240).
• With winter rains highly reliable within this region there should be enough soil moisture until spring. This season has proven to be an ideal start for WA grain growers.

• Hay trading on the domestic market remains steady. Dairy farmers in the South West remain the most active buyers.
• Sowing is well underway for the 2014 cereal hay crop. 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 June rainfall: 3mm (Ave: 98.3mm).
• YTD: 286mm (Ave: 361mm), Compared to 228mm this time last year.
• Wheat $ -12 ($365 to $375). Domestic wheat prices have finally buckled following resilience against falling international values over the last month.
• Feed barley $ -4 ($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. Public prices have dropped but anecdotal evidence suggests trade prices are relatively unchanged.
• Triticale prices $ -5 ($339 to $349)
• 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.
• Quality hay is in short supply in particular lucerne hay is hard to source.
• Cereal hay: ($220-$240/t). There are limited reports of trading. Supplies are low and quality is variable.
• Lucerne hay: ($280-$320/t). Demand is steady and supplies are low. Sourcing lucerne hay will be difficult throughout winter.
• Straw: -$10 ($120-$140). There is some rye grass straw available in the Northern midlands. Dairy farmers and feedlots are the most active buyers seeking roughage.
• Pasture hay: +$15 ($180-$200/t). Demand is now starting to pick up and supplies are good. Quality is variable due to the patchy weather conditions during the hay season.