READ FULL REPORT HERE.
Driving Prices Up
- Dry conditions continue across parts of the country which has reduced the availability of pasture feed, requiring supplemental feeding and the replacement of on farm stores of fodder.
- Supply shortages continue to affect the market, keeping prices high. Though this is countered somewhat by reduced sales at the higher price points.
- Feedlots continue to look for bulk quantities of fodder which is elevating the prices in those areas.
- As we move into autumn farmers are looking to build up on-farm supplies for the cooler months ahead.
Driving Prices Down
- Green feed continues to be available in areas which have received ongoing autumn rains; this is keeping demand down locally.
- There is an abundance of feed grain options due to the bumper harvest combined with some adverse weather conditions leading to a downgrade of some grains. More of this is being incorporated into the fodder mix.
- Hay and straw production is still ongoing in limited quantities, most especially in Victoria, supplying the local market.
- Trade in hay is steady in most regions which is traditional at this time of year. Though those areas seeing extended dry spells are increasing demand which is being met both locally and from interstate.
- There is expected concern across the livestock sectors, especially sheep graziers in relation to the latest updates on the sheep live export trade. This is mostly in WA but concern about flow on effects across both livestock and fodder industries is widespread.
- Local roads and infrastructure are in serious need of repair and maintenance and these repair works are expected to continue for some months, especially in areas hit by flooding events in 2022. This will have on-going effects on farm businesses in those regions.
- The Bureau of Meteorology (BOM) has announced the end of La Niña. Ocean indicators and atmospheric indicators of La Niña have returned to neutral levels. All but one of the surveyed international climate models suggests sea surface temperatures in the tropical Pacific will remain neutral through autumn. ENSO outlooks extending beyond autumn should be viewed with caution as models typically have lower forecast accuracy at this time of year.
- Buyers are encouraged to feed test and view fodder before purchase to be sure of the quality of feed.