Water Update - 11 December


Welcome to the latest Elders Water Market Update for the week beginning 11 December 2023.

Opportunities of the week

  • BUYER of 150 megalitres of Murray Irrigation General Security at $1,700 per megalitre, inclusive of 2023/24 allocation
  • SELLER of 100 megalitres zone 11 temporary at $140 per megalitre
  • SELLERS of various sized parcels of Murrumbidgee temporary at $165 per megalitre
  • SELLER of 100 megalitres Lachlan temporary at $125 per megalitre
  • SELLERS of various sized parcels of zone 10 temporary at $70 per megalitre


Current allocations are as follows:

 Zone  Allocation 1 year ago  +/- per cent 



High Security

95 pc95 pcSame

General Security

46 pc60 pc- 14 pc

NSW Murray (Zones 10 & 11)


 High Security

100 pc100 pcSame

General Security

110 pc110 pcSame



High Security

100 pc100 pcSame

General Security

0 pc115 pc- 115 pc

Vic Murray (Zones 6 & 7)


High Reliability

100 pc100 pcSame

Low Reliability

16 pc100 pc- 84 pc

SA Murray
100 pc100 pcSame

Murrumbidgee Deep Aquifer (all zones) 

100 pc100 pcSame

Lower Murray Deep Groundwater

100 pc100 pcSame

Lower Lachlan Groundwater

100 pc100 pcSame

Supplementary Events

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

Trade Restrictions

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 10 weeks.

Is closed. 
The Resource Manager for northern Victoria today updated the 2023/24 risk of spill information for the Murray, Goulburn and Campaspe systems. The spill risk in the Murray system has fallen below the threshold needed for a declaration of a low risk of spill and, as such, allocation held in spillable water accounts in the Murray system will be returned to allocation accounts. The risk of spill and potential for further deductions from spillable water accounts in the Goulburn system is about 70 pc and about 20 pc in the Campaspe system.  


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

  Current 1 Day  7 Days  30 Days  1 Year 
Murrumbidgee 82.9 pcNIL+ 1.0 pc+ 2.6 pc- 15.8 pc
Blowering74.9 pc+ 0.6 pc+ 2.4 pc+ 0.7 pc- 24.3 pc
Burrinjuck95.5 pc- 0.6 pc+ 1.9 pc+ 6.9 pc- 2.1 pc
Murray94.1 pcNIL- 0.3 pc- 1.6 pc- 3.1 pc
Hume90.7 pc- 0.2 pc - 1.3 pc- 5.1 pc- 2.7 pc
Dartmouth98.4 pcNIL- 0.2 pc- 0.6 pc- 2.0 pc
Lachlan 93.8 pcNIL- 0.3 pc- 0.5 pc- 3.0 pc
Wyangala93.7 pc- 0.1 pcNIL- 0.8 pc- 2.9 pc

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:

 Zone Buyers  Sellers  Last Trade 
NSW Murray 10 (Above Choke)$70$75$75
NSW Murray 11 (Below Choke)$140$140$140
Vic Murray 6 (Above Choke)$70$75$70
Vic Murray 7 (Above Choke)$140$140$140
SA Murray$140$140$140
Lachaln $115$120$115
Murrumbidgee Deep Aquifer Zone 1---
Murrumbidgee Deep Aquifer Zone 2---
Murrumbidgee Deep Aquifer Zone 3---
Lower Murray Groundwater---
Lower Lachlan Groundwater ---

Current Permanent Market 

Indicative pricing is as follows:

 Zone  Price per mL 
High Security$8,300 to $8,500
General Security$2,300 to $2,400
Supplementary$800 to $850
NSW Murray Above Choke (Zone 10) 
High Security$7,100 to $7,200
General Security$1,600 to $1,700
NSW Murray Below Choke (Zone 11) 
High Security$9,100 to $9,200
General Security$2,600 to $2,700
VIC Murray Above Choke (Zone 6) 
High Security$4,600 to $4,700
General Security$700 to $800
VIC Murray Below Choke (Zone 7) 
High Security$7,300 to $7,500
General Security$1,750 to $1,850
SA Murray Class 3$7,000 to $7,500
Murrumbidgee Deep Aquifer (zone dependent)$3,800 to $4,500
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 BOM released an updated outlook on 7 December. The full outlook can be viewed by clicking here but, in summary: 

  • January to March rainfall is likely to be below average across much of the north, west and south-east Australia.
  • January to March maximum and minimum temperatures are likely to very likely to be above average for Australia.
  • January to March 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 January to March periods from 1981 to 2018.
  • The long-range forecast is influenced by several factors, including the active El Niño and easing positive Indian Ocean Dipole events, and record warm oceans globally.

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.

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Meet the author

Daisy Armstrong

Water Broker
  • Elders Griffith

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