Driving Prices Up
  • Good rains in Western Australia and some reasonable rains in South Australia are lifting optimism in these regions, however it will be some time before pastures are viable so fodder continues to be in high demand.
  • The overall wet conditions in parts of QLD and Northern NSW is leading to some watery pastures so fibre requirements are being met by hay, which is lifting demand.
  • Demand is strong as producers look to fill on-farm storage before the onset of cooler winter conditions slow pasture growth. While recent rains are welcomed, it will do little to build pastures before winter, so a feed gap is still expected. It is strongly suggested that farmers look to lock in supplies as there is a good degree of belief that there will be shortages in winter.
Driving Prices Down
  • Winter forage crops in NSW and parts of northern Victoria are seeing a limited reduction in local demand; this feeds through to a broader price stabilisation, though this is of limited effect.
  • Older fodder supplies remain available on the market as producers clear out sheds to meet demand, some of this is quite low quality which is reducing the overall price point, however this hay is usually weather damaged from previous seasons and has limited usage.
  • Recent rains have lifted producer’s optimism, which tends to cause a reduction in immediate demand and a lessening of the constraints on supply.
Local News
  • The recent rainfall which has aided Western Australia and parts of South Australia was not as widespread or as heavy as producers in South Australia and the South West of Victoria would have liked, those areas remain fairly dry with limited pasture availability.
  • Tasmania’s dry conditions continue for most of the state and supplies are running low. Fodder continues to be sourced from the mainland, but the process can be slow due to biosecurity measures.
  • The Central West of NSW appears to be currently facing a shortage of good quality cereal hay and is looking to bring in supplies from the Riverina.
  • The Bureau has stated that El Niño has ended and the El Niño–Southern Oscillation (ENSO) has returned to neutral. Climate models indicate ENSO will likely continue to be neutral until at least July 2024. This means that current forecasts of the ENSO state beyond July should be used with caution.
  • Buyers are encouraged to feed test and view fodder before purchase to be sure of the quality of feed.