Latest Water Update

• BUYER of 500 Murray Irrigation (Zone 10) Entitlements at $1,650, inclusive to 2023/24 allocation. Smaller parcel sizes considered. 
  
• BUYER of 60 Murrumbidgee Regulated River General Security Entitlements at $2,400, inclusive to 2023/24 allocation.
  
• SELLER of 5 Murrumbidgee Irrigation High Security Entitlements at $8,300 per megalitre, exclusive of 2023/24 allocation.
• SELLERS of various sized parcels of Murrumbidgee temporary at $200 per megalitre. 
• LESSOR of 72 South Australian Class 3 entitlements at $300 per annum for 5 years, commencing 2023/24 season.

Allocations

The following allocation announcements were made on 15 November: 

• MURRUMBIDGEE general security recieved no allocation increase
• VIC MURRAY Low Reliability recieved a 16 per cent allocation increase

As such, allocations are as follows:

Supplementary Events

There are some areas where supplementary flows remain active, details of which can be found by clicking the following links: 

• NSW Murray and Lower Darling

Trade Restrictions

MURRUMBIDGEE/MURRAY IVT
Current balances are as follows: 

• 90.6 gigalitres (GL) is tradeable from the Murrumbidgee into the NSW Murray 
• 9.4 GL is tradeable from the Murray into the Murrumbidgee

There has been no change to these figures in the last six weeks.

BARMAH CHOKE
Is closed.

INTERSTATE TRADING
The extension made on Friday 1 September by the Department of Planning and Environment and Water restricting the temporary restriction on interstate water trades into the NSW Murray, Lower Darling and Murrumbidgee regulated river water sources has been repealed. 

Storages

According to the Bureau of Meterorology (BOM), storage levels are currently as follows:

Current Temporary Market

Temporary markets have firmed up over the past week, which is unsurprising given the amount of crop in the ground, no allocation increase, no rainfall on the horizon and warmer weather. With summer irrigating ramping up, I expect it is only a matter of time until we see demand really increase and prices rise.

Indicative prices are as follows:

Current Permanent Market 

Indicative pricing is as follows:

Seasonal Outlook

The BOM released an updated outlook on 9 November. The full outlook can be viewed by clicking here but, in summary:

• December to February rainfall is likely to be below average across much of northern and western Australia and much of Tasmania.
• December to February maximum and minimum temperatures are very likely to be above average for almost all of Australia.
• December to February maximum and minimum temperatures are at least 2.5 times more likely than normal to be unusually high for much of Australia. Unusually high temperatures equate to the warmest 20 pc of November to January periods from 1981 to 2018. 
• The long-range forecast is influenced by several factors, including the active El Niño and positive Indian Ocean Dipole events, and record warm oceans globally

For more information contact your local water broker. 

_{The information contained in this article is given for the purpose of providing general information only, and while Elders has exercised reasonable care, skill and diligence in its preparation, many factors (including environmental and seasonal) can impact its accuracy and currency. Accordingly, the information should not be relied upon under any circumstances and Elders assumes no liability for any loss consequently suffered. If you would like to speak to someone for tailored advice relating to any of the matters referred to in this article, please contact Elders.}