Australia: Sorghum drops into sights as the season turns dry
Sorghum
Australia
Published May 26, 2023
Tridge summary
Southern markets have firmed this week as dry conditions hamper the end of new-crop planting and start to trouble production outlooks in parts of New South Wales and Victoria.
Original content
In the north, sorghum prices have fallen to a level sufficient to spark buying interest from the pig and poultry sectors as Chinese demand backs off. Dry conditions, and preoccupation with seeding, have reduced grower selling to minimal levels, and seen consumers get serious about booking some new-crop tonnage. Table 1: Indicative prices in Australian dollars per tonne. Planting of wheat and barley in Queensland is well advanced or completed for many growers, and at the ideal time. However, dry conditions are limiting progress in many parts of northern NSW, where growers need around 20mm to complete their cereal programs. “There are a few farmers sitting back waiting for some more rain,” one northern NSW trader said. “Last week’s rain was very good for those who got it, but west of the Newell Highway and south of Moree, people pretty much missed out.” Falling feeder cattle prices have seen terms of trade pick up for feedlots, and buying interest from the sector has picked up and ...
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