Fact of the Day – No matter what month a horse is born, its birthday falls on January 1st and this is the universal birthday, whereas it is celebrated on August 1st in the Southern Hemisphere. This was used to make it easier to keep track of racing horses’ bloodlines but now is generically used for all horses in today’s day and age.

We kick off August with a few puddles still on the side of the road here in Narrabri from the weekend’s rain, but it was a select few who were lucky to see any of it. All that eventuated from the passing over weather was a nice change of scenery and a top up of local bird baths. Obviously stock feed is where the demand is and since last week prices have not slowed down buyers are rushing to secure more before the next jump. Fabas, Wheat, Corn, Oats, Barley, Sorghum and Cottonseed inventories are all diminishing at a rapid rate, causing sellers to tighten up on out loading and safeguarding for the months ahead. Demand on to the Downs has also increased over the last week, though supply is still available from the vessels that are delivering stock from the south. Boats will continue to come from the south and Western Australia causing port prices on the east coast to rise to keep the grain away from sticky overseas buyers. On the trade side, the CBOT has climbed healthily due to the reports of season on season decline in output throughout Europe and further eastern countries across the Black Sea. The Grains industry conference is currently on in Melbourne, so it will be interesting to see the feedback and forecasts that emerge from the industry leaders on a national and international scale.

Compare the Pair

August 1st 2017

August 1st 2018

Faba Beans (Feed)

$255 XF Narrabri

$600 XF Narrabri

Feed Wheat (SFW1)

$300 XF Narrabri

$415 XF Narrabri

Barley (F1)

$280 XF Narrabri

$425 XF Narrabri

Chickpeas #1

$780 Del Narrabri

$700 Del Narrabri

Cotton Bales (2019)

$480 Lower Namoi

$660 Lower Namoi

Around New South Wales there is feed being sourced from every corner of the state. Feed Wheat starts at $415 ex-farm Narrabri and a little less on to the plains with buying levels increasing the closer we move north at $420 out of Goondiwindi. Sorghum has traded delivered Tamworth and Darling Downs at $390. Barley continues to hold its own level with it priced at $430 XF north of Moree with it also being a rarity to come by at all with on farm inventory all but gone. Chickpeas have had a positive change with overseas demand picking up as they wake up to the fact that there will be next to no tonnes this season compared to previous years. Chiccies at Wee Waa Namoi were bid at $700 this week with delivery for August. New crop prices no matter how appealing don’t look to get any traction soon considering current conditions, prices are running parity with old crop due to low selling and buying demand. Faba beans can’t stop and won’t stop it seems, demand is thriving for graziers and the level hit $600 ex-farm last week with more of a climb set for this week.

Cotton bale prices had a positive week etching up a few dollars day by day. General weather forecasts and conditions both in the US and here at home seem to be the main driver. Those that do have the water available are showing great interest in the next two seasons, but for most, this is all on the back burner until we get some moisture from the big man upstairs.Today’s prices, $645 for 2018, $657 2019, $610 2020 and $530/bale for 2021 and 2022(at time of writing).

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