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Regional Round-up is a monthly newsletter providing an overview into the environmental and business conditions affecting farmers and rural businesses in the Goulburn Valley and North East Victoria.

Dairy

Opening milk prices are:
Saputo $5.75/kg MS
Fonterra $5.85/kg MS
Bega $5.85/kg MS

Several reports indicate over 40% of the Murray Region’s dairy farmers have switched milk buyers in the last twelve months. Approximately 20% of dairy farmers have exited from the industry altogether. On a more buoyant note, the same reports advise that 60% of dairy farmers are expecting to make a profit in the 2017/2018 year. This compares well to 40% in the previous year.

Cropping

The early June rainfall saw crops out of the ground however with little or no rain since, some crops such as canola are beginning to show stress. As fertiliser application rolls out, this needs to be accompanied by decent rainfall which is yet to occur.
In some parts of NSW crops will not be sown this year due to drought-like conditions.
Crop prices are up, with wheat and cereal hay the biggest beneficiaries of price increases. As demand increases, so too, will prices.

Sheep

Wool prices have reached record highs and lamb and mutton prices also remain high.
Wagga Wagga recorded a new high for heavy lambs of $276.20/head in late June.
High prices are attributed, in part, to a sheep shortage however, this may change. There is some speculation that WA sheep could flood eastern markets due to the loss of two live export contracts.

Beef

Cattle prices remain firm due to some scattered rainfall however, a shortage of feed and higher maintenance costs is impacting on carrying livestock through the winter months.
Some rain and colder weather saw an increase in unfinished bullocks presented to the Shepparton and Wodonga markets. A lack of rain has resulted in increased numbers at saleyards.

Horticulture

The service is currently working with industry organisations to promote and build awareness of the RFC service via newsletters and other promotional material.

Irrigation

Cental Goulburn        May                               June
HRWS                  $3,200-$3,300/ML            $3,300/ML
LRWS                  $450-$500/ML                $450-$500/ML
Temporary trade     $165-175/ML                  $170-$200/ML

The generally dry conditions continued throughout most of June.

B.O.M. has announced there is a 50:50 chance of an El Niño commencing this spring which would likely see drought, warmer temperatures and a greater than usual bushfire risk occurring over much of Australia.

 

Call 1300 834 775 to find out what assistance we may be able to provide you, or make an appointment with one of our experienced Rural Financial Counsellors.

AgBiz Group

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Contact Us

Rural Financial Counselling Service Victoria - North East.

Unit 1, Enterprise House

3 Stanley Street

Wodonga VIC 3689

PHONE: 1300 834 775

EMAIL: info@rfcsvicne.org.au

FAX: (02) 6100 6123