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National Summary
Driving Prices Up
- SW Victoria and SA continue to have reduced pasture availability which is keeping the movement of hay and the cost for fodder high.
- Tasmania is seeing good pasture growth but hay supplies remain tight leading to sizable price spikes for those lines which are available.
- Many producers are continuing to rebuild on-farm stores, or lock away production for export or pre-contracted buyers.
Driving Prices Down
- Western Australia is set to have a good hay and silage season with the turnaround in the outlook from a few months ago. This is seeing a reduction in demand and prices as a result.
- Northern QLD continues to see reasonable hay production and reduced demand which is building up stores and reducing the price point.
- Due to the lack of rains in SA and the low subsoil moisture there looks to be an increase in the amount of cereal crops which will be cut for hay, this will boost the amount available in the region though the quality will be variable.
Local News
- Gippsland is showing a different outlook to the rest of Victoria with good soil moisture and reasonable warmth promoting pasture growth and the production of silage.
- Croppers in SA are increasingly looking at shifting their grain production crops into hay production given the lack of winter rains and the likelihood of less spring rains.
- The BOM indicates that ENSO and IOD are likely to remain neutral in spring 2024.
- Buyers are encouraged to feed test and view fodder before purchase to be sure of the quality of feed.