Australia: Grazier demand bolsters softening market

As global markets respond to the weight of the Northern Hemisphere harvest, feedgrain values in south-eastern Australia are finding support from grazier demand. This is centred in South Australia’s South East, and Victoria’s Western District, where hay, pulses and grain is being bought in an ever-widening arc. In northern New South Wales and southern Queensland, ideal growing conditions have consumers comfortable about new-crop hitting the market in volume from October. Table 1: Indicative prices in Australian dollars per tonne. Some excellent rain in parts of Central Qld this week has further brightened production prospects for the northern region. Falls in the 24 hours to 9am today include: Capella 48mm; Clermont 55mm, and Emerald 36mm. Much of southern Qld and northern NSW is forecast to receive 10mm or more in the coming week, ideal after a run of frosty mornings. Cash bids shown to growers for current and new crop have fallen substantially in recent weeks, and traders and ...