Sorghum prices have seen a $20 per tonne decrease in the past two weeks, leading to increased demand from the poultry and pork sectors in the northern market and reducing interest in wheat and barley. In the southern market, export demand from The Philippines is bolstering ASW prices, while China continues to purchase barley. Feedlots are planning to transition from wheat to barley as the weather cools. Queensland's exports are primarily containerised H2 wheat. The sorghum crop's production prospects have improved due to recent rainfall.
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Sorghum prices have dropped $20 per tonne in the past fortnight to a level low enough to spark widespread demand from the poultry and pork sectors in the northern market. This has further reduced consumer interest in booking wheat and barley, despite grower readiness to sell. In the southern market, export demand from feed-type wheat from The Philippines in particularly is supporting ASW prices, as China continues to go big on barley. As with the north, southern consumers are largely out of the market on adequate coverage. Table 1: Indicative prices in Australian dollars per tonne. Traders report a very quiet January, as poultry and pig producers position themselves to consume sorghum at maximum inclusion rates once new-crop volume ramps up. Feedlots are gearing up to switch from wheat to barley once the weather cools down, and are seen as adequately covered for some months. “Most feedlots have really good grain coverage from January to June,” one trader said. “There’s a lack of ...
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