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Opportunities of the week
- Buyer of 50 megalitres of Murrumbidgee Irrigation High Security entitlement at $8,700 per megalitre, inclusive of 2024/25 allocation.
Allocations
The following allocation announcements were made on Friday:
- LACHLAN general security received no allocation increase, leaving total allocation at 6 per cent (pc)
As such , allocations are as follows:
| Zone | Allocation | 1 year ago | +/- per cent |
Murrumbidgee | |||
High Security | 95 pc | 95 pc | Same |
General Security | 34 pc | 46 pc | - 12 pc |
NSW Murray (Zones 10 & 11) | |||
High Security | 97 pc | 100 pc | - 3 pc |
General Security | 44 pc | 110 pc | - 66 pc |
Lachlan | |||
High Security | 100 pc | 100 pc | Same |
General Security | 6 pc | 0 pc | + 6 pc |
Vic Murray (Zones 6 & 7) | |||
High Reliability | 98 pc | 100 pc | - 2 pc |
Low Reliability | 0 pc | 0 pc | Same |
SA Murray | 100 pc | 100 pc | Same |
Murrumbidgee Deep Groundwater | 100 pc | 100 pc | Same |
Lower Murray Deep Groundwater | 100 pc | 100 pc | Same |
Lower Lachlan Groundwater | 100 pc | 100 pc | Same |
Trade Restrictions
MURRUMBIDGEE/MURRAY IVT
Is currently open for both Murrumbidgee to Murray and Murray to Murrumbidgee trade, with balances as follows:
- Murrumbidgee to Murray - 25.7GL
- Murray to Murrumbidgee - 74.3GL
BARMAH CHOKE
Is CLOSED.
Storages
According to the Bureau of Meterorology (BOM), storage levels are currently as follows:
| As at 9am | Current | 1 Day | 7 Days | 30 Days | 1 Year | |
| Murrumbidgee | 11 Nov 24 | 69.8 pc | NIL | + 0.7 pc | - 7.1 pc | - 10.5 pc |
| Blowering | 9 Nov 24 | 67.9 pc | + 0.1 pc | + 0.3 pc | - 5.1 pc | - 6.4 pc |
| Burrinjuck | 9 Nov 24 | 72.9 pc | NIL | - 0.7 pc | - 11.5 pc | - 15.6 pc |
| Murray | 11 Nov 24 | 76.4 pc | NIL | - 0.9 pc | - 3.8 pc | - 19.4 pc |
| Hume | 9 Nov 24 | 56.7 pc | - 0.2 pc | - 1.4 pc | - 6.9 pc | - 35.3 pc |
| Dartmouth | 10 Nov 24 | 90.2 pc | - 0.1 pc | - 1.2 pc | - 4.1 pc | - 8.7 pc |
| Lachlan | 11 Nov 24 | 93.7 pc | NIL | - 0.6 pc | - 1.9 pc | - 0.6 pc |
| Wyangala | 9 Nov 24 | 93.5 pc | - 0.1 pc | - 0.8 pc | - 2.2 pc | - 0.9 pc |
Current Temporary Market
Warmer temperatures combined with increased usage have seen most temporary markets trend upwards over the past week, a trend which is expected to continue given the lack of predicted rainfall. Indicative pricing is as follows:
| Zone | Buyers | Sellers | Last trade | Trend |
| Murrumbidgee | $150 | $150 | $150 | Steady |
| NSW Murray 10 (Above Choke) | $130 | $135 | $130 | Steady |
| NSW Murray 11 (Below Choke) | $150 | $150 | $150 | Steady |
| Vic Murray 6 (Above Choke) | $135 | $140 | $138 | Up |
| Vic Murray 7 (Above Choke) | $150 | $155 | $155 | Up |
| SA Murray | $150 | $150 | $150 | Steady |
| Lachlan | $75 | $80 | $80 | Steady |
| Murrumbidgee Deep Aquifer Zone 1 | - | - | - | |
| Murrumbidgee Deep Aquifer Zone 2 | - | - | - | |
| Murrumbidgee Deep Aquifer Zone 3 | $30 | $50 | $50 | Steady |
| Lower Murray Groundwater | $40 | $40 | $40 | Steady |
| Lower Lachlan Groundwater | $50 | $50 | $50 | Steady |
Current Permanent Market
Indicative pricing is as follows:
| Zone | Price per mL |
| Murrumbidgee | |
| High Security | $8,550 to $8,650 |
| General Security | $2,550 to $2,650 |
| Supplementary | $800 to $850 |
| NSW Murray Above Choke (Zone 10) | |
| High Security | $7,500 to $7,600 |
| General Security | $1,700 to $1,800 |
| NSW Murray Below Choke (Zone 11) | |
| High Security | $8,600 to $8,700 |
| General Security | $2,600 to $2,700 |
| VIC Murray Above Choke (Zone 6) | |
| High Security | $4,100 to $4,200 |
| General Security | $750 to $850 |
| VIC Murray Below Choke (Zone 7) | |
| High Security | $6,850 to $6,950 |
| General Security | $2,000 to $2,100 |
| SA Murray Class 3 | $6,950 to $7,050 |
| Murrumbidgee Deep Aquifer (zone dependent) | $3,800 to $4,200 |
| Lachlan (Upper & Lower) | |
| High Security | $1,500 to $1,600 |
| General Security | $4,500 to $4,550 |
| Lower Murray Deep Groundwater | $2,700 to $2,800 |
| Lower Lachlan Groundwater | $3,500 to $4,000 |
SEASONAL OUTLOOK
The Bereau Of Meteorology released an updated outlook on 7 November. In summary:
The long-range forecast for December to February shows:
- above average rainfall is likely for large parts of eastern Australia
- warmer than average days and nights are likely to very likely across most of Australia
- unusually high rainfall is likely for parts of the south-east and in far northern Queensland
- unusually high minimum temperatures are very likely for much of northern and eastern Australia.
Disclaimer – important, please read:
The information contained in this article is given for general information purposes only, current at the time of first publication, and does not constitute professional advice. The article has been independently created by a human author using some degree of creativity through consultation with various third-party sources. Third party information has been sourced from means which Elders consider to be reliable. However, Elders has not independently verified the information and cannot guarantee its accuracy. Links or references to third party sources are provided for convenience only and do not constitute endorsement of material by third parties or any associated product or service offering. While Elders has exercised reasonable care, skill and diligence in preparation of this article, many factors including environmental/seasonal factors and market conditions can impact its accuracy and currency. The information should not be relied upon under any circumstances and, to the extent permitted by law, Elders disclaim liability for any loss or damage arising out of any reliance upon the information contained in this article. If you would like to speak to someone for tailored advice specific to your circumstances relating to any of the matters referred to in this article, please contact Elders.
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