The latest Production Inputs Monitor from Dairy Australia reflects a challenging operating environment for dairy farmers, with rising input costs and volatile market conditions.
Southern dairying regions received beneficial rainfall, improving water storage levels at several monitored sites. Lake Glenmaggie water volume notably rose by 59% from June. However, water availability remains tight, with Murray Irrigation allocations revised down to just 2%, pushing average water prices to their highest level since July 2020.
Hay prices have climbed due to reduced pasture growth during winter, forcing farmers to rely more heavily on supplementary feed. Wheat prices eased slightly thanks to rainfall in southern growing regions, which improved domestic supply outlooks. Still, Australian wheat remains priced above global markets, limiting export interest due to subdued international demand.
Temporary water trade prices rose significantly across Northern Victoria and the Murray Irrigation System, with price increases of over 150% YOY in some regions. Fertiliser prices for DAP and urea also increased, while MOP declined slightly.
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