Market Update 22 November 2024

Our inspectors provide a market update and insight for the week commencing 18 November 2024.

Northern Market Update

With the harvest season coming to an end throughout Qld and northern NSW, we are seeing excess straw in paddock stacks looking for homes baled due to the extreme biomass from this year’s winter crop. Straw quality is showing signs of the wet harvest period with the early straw remaining the pick for quality. The onset of the storm season looking wet and delivering widespread moisture to many areas is keeping hay demand steady.

Demand from Dairy’s and Pastoralists’ is for quality shedded product whether it be for Cereal hay or Protein hays.

The organised few chose wisely to contract their yearly requirements during the harvest period while talk of large volumes was front of mind. Growers in parts of Qld now considering summer hay options in the form of forage sorghum, millet, Lab Lab and Soy are promising but are expected to fetch considerably less prices that the last twelve months. The dollar driver for summer hay returns for the grower will be in quality not quantity so cut early to show better feed values.

We have also seen excellent quality lucerne hay with 3rd cut not far away, hopefully this weather won’t hang around too long to allow growers to cut prime quality hitting the 20-23% Protein mark.

Southern Market Update

Hay movement in the south remains steady with intermittent rain fronts bringing temporary reprieve to southern pastoralists. There looks to be another front building in the west and scheduled for early next week. Outlook remains for a dry summer and can expect to see increasing fodder usage particularly along the east coast with a reduction in spring silage. Expect to see this early in new year.

A very full profile in domestic hay market with premium hays all the way through to hay that has worn 60mm+ over a few showers. Cereal hay is abundant and trading anywhere from $200/mt for weather affected outside stacked hay through to $300/mt for Prime shedded cereal hay. Price vetch hay out of a shed is in demand however rare to come across. 2nd cut lucerne’s starting to come on market after below average quality in first cuts due to frost damage in areas.