Water trading update – week ending 6 August 2021

Rainfall was widespread across much of the Murray Darling Basin (MDB) for the last week of July with the highest totals recorded across the upper Murray and Murrumbidgee catchments.

In north east Victoria, 120 mm was recorded at Falls Creek (Rocky Valley), while Hunters Hill recorded 106 mm. Mt Buffalo in the Ovens catchment recorded 64 mm and Cheshunt on the King River recorded 59 mm. In New South Wales, the highest totals included 90 mm at Burrinjuck Dam on the upper Murrumbidgee River and 113 mm at Perisher Valley (just outside the Basin) in the Snowy Mountains.¹

Water storage in the MDB increased by 479 gigalitres (GL) between 28 July 2021 and 4 August 2021. The current volume of water held in storage is 19,222 GL, which represents 76 per cent of total capacity. This is 58 per cent or 7,058 GL more than at the same time last year.

Allocation prices in the Victorian Murray below the Barmah Choke decreased from $129 per ML on 25 July 2021 to $125 per ML on 30 July 2021. Prices are lower in the Goulburn-Broken, Murrumbidgee, and regions above the Barmah choke due to the binding of the Goulburn intervalley trade limit, Murrumbidgee export limit, and Barmah choke trade constraint.²

Spring (September to November) rainfall is likely to be above the median for the eastern two-thirds of Australia. Below median rainfall is likely for north-west Western Australia and western Tasmania. Maximum temperatures for September to November are likely to be above median for the northern tropics and Tasmania. For much of the southern mainland, below median daytime temperatures are more likely.

The negative Indian Ocean Dipole event continues, and large parts of the eastern Indian Ocean are warmer than average. This can favour above median winter to spring rainfall for parts of Australia. The El Niño–Southern Oscillation is neutral but cooling of the tropical Pacific is likely in the with coming months, also likely increasing the chances of above median spring rainfall for much of eastern and northern Australia.³

References:

1. Murray Darling Basin Authority.

2. Australian Department Agriculture, Water and Environment (ABARES)

3. Australian Bureau of Meteorology.

Murray (below Choke) Zone average Temp Price 28 June to 31 July 2021

Data provided by: www.waterflow.io

Murray (above Choke) Zone average Temp Price 28 June to 31 July 2021

Data provided by: www.waterflow.io

Murrumbidgee Zone average Temp Price 28 June to 31 July 2021

Data provided by: www.waterflow.io

Goulburn Zone average Temp Price 28 June to 31 July 2021

Data provided by: www.waterflow.io