South West Victoria
|Date||SW '20||SW '19||SW '5YA|
Notes:Change in price is the change since the last report. Prices are estimates based on delivery to dairy farms with allowance for freight, storage, and marketing costs, but exclusive of GST. Wheat prices are for the relevant stockfeed wheat available in a region (ASW, AGP, SFW1 or FED1) and F1 for barley.
Wheat: Down $10 ($325 to $335/tonne). Barley: Steady ($240 to $250/tonne). Maize: Down $10 ($495 to $505/tonne). Canola Meal: Steady ($415 to $425/tonne).
A drop in offshore wheat futures values and an increase in the AUD softened wheat markets this week. The discount of spot barley in comparison to spot wheat is still very large, which is seeing some demand move from wheat and some downwards pressure on prices.
Grower selling for barley remains limited, however there has been a slight increase in grower engagement in these markets over the last week.
It is expected that low export demand, given tariffs on Australian barley from China, and favourable crop conditions will see a large excess of barley over the next season. Growers remain reluctant to sell barley, however, at current levels.
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 may vary for quality or other reasons. Whilst all reasonable steps have been taken to ensure the accuracy of the information contained in this report, to the fullest extent permitted by Australian law Dairy Australia disclaims all liability for any inadvertent errors and for any losses or damages stemming from reliance upon its content. Dairy Australia recommends that all persons seek independent advice and, where appropriate, advice from a qualified adviser, before making any decisions about changes to business strategy.