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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

Drier conditions have finally eventuated, which is good news for dairy farmers as paddocks, laneways and yards dry out, making day to day operation more manageable. Hay and silage is beginning to be cut and is later than usual due to paddocks being too wet to get onto. This will have implications for the quality of silage and hay; good quality hay may be hard to find and is likely to demand premium prices.

Cropping/Sheep

Above-average rain was recorded in some districts; however there was no further significant damage of note. This has created some uncertainty about yields for the upcoming harvest and quality is not expected to be high.

A small but insignificant rise in wheat price occurred for the month and the canola price continued its steady rise. Producers of quality canola will enjoy better prices compared to cereal crops, however sodden soils and wet growing conditions are likely to impact on efforts to produce high-yielding canola.

Horticulture

There is still some discussion around the backpacker tax, with reports the changes came too late, and fruit picker numbers are likely to be lower than in previous years.

Beef

Beef prices have shown some recent small reductions but still remain substantial. After the recent wet winter and early spring (record rainfall in September) followed by good pasture and fodder growth many producers are holding stock with the intention of maximising weight gain prior to sale. The recent warmer weather will however dry out pastures and may initiate increased numbers to be presented in local saleyards as paddock feed drops.

Irrigation & Seasonal Conditions

Storage levels in Lake Eildon are at 79% against 53% last year. The Hume is holding 99% (against 45% LY) and Dartmouth 65% (against 61% LY). (GMW resources storage levels website.)

Water continues to be released from the Hume Weir as high inflows continue. At the moment, water held by farmers in excess of HWS allocations is being lost with approximately 100% spill.

All systems now have a 100% HWS and Campaspe a 100% LWS and the Broken 61% LWS.

Water prices averaged $90 for October down from $120 in September (Temp water).
High Reliability water shares have fallen slightly to $2,537 for October. (Last October $2,200). Low reliability shares traded for $220 no change from May (Refer Vic Water Register).

Subsequent temporary trading in November has seen the price increase back to $100 as temperatures increase and drier outlooks are forecast. Several farmers have irrigated in the last week.

 

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