Water trading update – week ending 2 July 2021 - Elders Rural Services
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Water trading update – week ending 2 July 2021

“We are only two days into the new water season, so there is insufficient evidence to confidently estimate the current market price of temporary water in any of the valleys” says Elders Water Trading broker Anthony Bent.

The prices listed below are based primarily on the market price of forward water traded in the closing stages of last water season – “generally a good signal for the price early in the new season,” explains Mr Bent.

With large volumes of water being carried over from last season and the current Bureau of Meteorology (BOM) outlook for ‘above average rainfall’ being likely over most of Australia in the coming months, Mr Bent says there is a sense that these prices will experience downward pressure.

Analysis of oceanic and atmospheric indicators suggest that El Niño–Southern Oscillation conditions remain neutral, reducing its influence on Australia’s climate patterns.

A negative Indian Ocean Dipole event is looking increasingly likely if current conditions in the Indian Ocean persist (large parts of the eastern Indian Ocean are warmer than average), which is typically associated with above average rainfall across southern Australia throughout winter and spring.

Water storage in the Murray–Darling Basin (MDB) increased by 208 gigalitres (GL) between 16 June 2021 and 23 June 2021. The current volume of water held in storage is 15,541 GL, which represents 61 per cent of total capacity. This is 44 per cent, or 4,768 GL more than at the same time last year.

Allocation prices in the Victorian Murray below the Barmah Choke decreased from $105 per ML on 11 June 2021 to $94 per ML on 19 June 2021. Prices are lower in the Murrumbidgee due to the binding of the Murrumbidgee export limit.

Source: ABARES

Prices

table showing water prices summary

Source: Elders Water Trading

Open allocations for the season

graph showing open allocation

Source: Elders Water Trading

Murray (below Choke) Zone average Temp Price 1 to 30 June 2021

graph showing water trading murray below choke

Data provided by: www.waterflow.io

Murray (above Choke) Zone average Temp Price 1 to 30 June 2021

graph showing water prices for murray above choke

Data provided by: www.waterflow.io

Murrumbidgee Zone average Temp Price 1 to 30 June 2021

graph showing water trading murrumbidgee zone

Data provided by: www.waterflow.io

Goulburn Zone average Temp Price 1 to 30 June 2021

graph showing water trading goulburn zone

Data provided by: www.waterflow.io

For information or assistance with your water needs contact the Elders water trading team on 1300 220 214

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