Opportunities
- BUYERS of Murrumbidgee and NSW Murray zone 11 temporary at $10 per megalitre. All parcel sizes considered.
- SELLER of 1,000 megalitres Murrumbidgee Forward at $135 per megalitre, with 1 August delivery. Smaller splits considered.
- SELLER of 500-1,000 megalitres of Lachlan forward at $130/ML, with 1 November 2024 delivery. Smaller splits considered.
Allocations
Allocations are as follows:
Zone | Allocation | 1 year ago | +/- per cent |
Murrumbidgee | |||
High Security | 100 pc | 100 pc | Same |
General Security | 100 pc | 100 pc | Same |
NSW Murray (Zones 10 & 11) | |||
High Security | 100 pc | 100 pc | Same |
General Security | 110 pc | 110 pc | Same |
Lachlan | |||
High Security | 100 pc | 100 pc | Same |
General Security | 20 pc | 115 pc | - 95 pc |
Vic Murray (Zones 6 & 7) | |||
High Reliability | 100 pc | 100 pc | Same |
Low Reliability | 100 pc | 100 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 |
2024/2025 OUTLOOKS
On 15 May, the NSW Department of Industry and Environment has released updated 2024/25 season outlooks for the Murrumbidgee and Murray Darling systems. Full statements can be viewed by clicking on the following links, but in short, outlooks for opening allocations are as follows:
Murrumbidgee
- 95 per cent (pc) allocation for high security entitlements
- 25pc allocation for general security entitlements (an increase of 15pc from the figure given in the last outlook)
- 100pc allocation for towns, domestic and stock access licences
- Full allocations for supplementary (including Lowbidgee) access licences
- Full general security carryover (estimated to be around 28pc) is expected to be available.
- 97pc allocation for high security entitlements
- 30pc allocation for general security entitlements (no change from the figure given in the last outlook)
- 100pc allocation for towns, domestic and stock access licences
- Full allocations for supplementary access licences
- Full general security carryover (estimated to be around 43pc) is expected to be available.
- 100pc allocation for high security entitlements
- 100pc allocation for general security entitlements
- 100pc allocation for towns, domestic and stock access licences
- Full allocations for supplementary access licences
- Carryover in accounts will be replaced by full allocations on 1 July 2023.
On 15 May, the Northern Victorian Resource Manager updated the outlook for 2024/25 seasonal determinations. Read the full statement, or in short, the outlook for opening allocations are as follows:
- 60pc for Vic Murray High Reliability
- 0pc for Vic Murray Low Reliability
- 70pc for Goulburn and Loddon High Reliability
- 0pc for Goulburn and Loddon Low Reliability
- 100pc for Campaspe High Reliability
- 0pc for Campaspe Low Reliability
On 15 April, the South Australian Department for Enviroment and Water released a statement detailing opening allocations for the 2024/25 season. Read the full statement, or in short, the outlook for opening allocations are as follows:
- 100pc for SA Murray licence holders
- As the projected opening allocation is greater than 50pc, the carryover of unused allocations from 2023-24 will not be available in 2024-25.
Trade Restrictions
MURRUMBIDGEE/MURRAY IVT
Is CLOSED for Murrumbidgee to Murray trade, but OPEN for Murray to Murrumbidgee trade with a balance of 87.7 gigalitres (GL).
BARMAH CHOKE
Is CLOSED.
Storages
According to the Bureau of Meterorology (BOM), storage levels are currently as follows:
Current | 1 Day | 7 Days | 30 Days | 1 Year | |
Murrumbidgee | 69.9 pc | NIL | +0.1 pc | +2.2 pc | - 20.0 pc |
Blowering | 70.2 pc | NIL | +1.2 pc | + 4.5 pc | - 22.2 pc |
Burrinjuck | 69.4 pc | +0.1 pc | +0.7 pc | - 1.6 pc | -16.5 pc |
Murray | 76.7 pc | NIL | + 0.3 pc | - 0.2 pc | - 13.3 pc |
Hume | 60.3 pc | +0.2 pc | +0.8 pc | - 1.1 pc | - 29.4 pc |
Dartmouth | 94.0 pc | NIL | - 0.1 pc | - 0.3 pc | - 2.4 pc |
Lachlan | 95.2 pc | NIL | - 0.2 pc | +0.4 pc | - 1.3 pc |
Wyangala | 95.0 pc | -0.1 pc | - 0.2 pc | + 0.4 pc | - 1.7 pc |
Current Temporary Market
Zone | Buyers | Sellers | Last Trade |
Murrumbidgee | $10 | $10 | $10 |
NSW Murray 10 (Above Choke) | $5 | $8 | $7 |
NSW Murray 11 (Below Choke) | $10 | $10 | $10 |
Vic Murray 6 (Above Choke) | $15 | $15 | $15 |
Vic Murray 7 (Above Choke) | $25 | $25 | $25 |
SA Murray | $25 | $25 | $25 |
Lachaln | $40 | $50 | $45 |
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, noting some markets have been skewed by the Government buybacks last year, and have not yet corrected now that the Government is out of those markets:
Zone | Price per mL |
Murrumbidgee | |
High Security | $8,300 to $8,400 |
General Security | $2,400 to $2,500 |
Supplementary | $800 to $850 |
NSW Murray Above Choke (Zone 10) | |
High Security | $7,100 to $7,200 |
General Security | $2,000 to $2,100 |
NSW Murray Below Choke (Zone 11) | |
High Security | $8,550 to $8,650 |
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 |
Current Forward Market
Indicative pricing is as follows, assuming a 1 November 2024 delivery date:
Zone | Price |
Murrumbidgee | $135 |
Murray Above Choke (NSW Zone 10 and Vic Zone 6) | $110 |
Murray Below Choke (NSW Zone 11, Vic Zone 7 and SA) | $135 |
Current Carryover Market
Indicative pricing is as follows, assuming risk of spill falling to the licence holder:
Zone | Price |
Murrumbidgee | $125 |
Murray Above Choke (NSW Zone 10 and Vic Zone 6) | $95 |
Murray Below Choke (NSW Zone 11, Vic Zone 7 and SA) | $125 |
TRADE CLOSURES
In accordance with the relevant Valley Water Sharing Plans, please note the following Season Close dates for water allocation trading:
- Murrumbidgee Regulated Interstate – CLOSED
- Murrumbidgee Regulated Intravalley – 11:59PM 30 June 2024
- NSW Murray and Lower Darling Regulated River Interstate – 11:59pm 30 April 2024
- All other Regulated Water, Groundwater and Unregulated Water - 11:59PM 30 June 2024
- Coleambally Irrigation – 2PM 28 June 2024
- Murray Irrigation – external trades 5PM 24 June 2024 and internal trades 11:59pm 25 June 2024
- Murrumbidgee Irrigation – external trades 5PM 28 June 2024 and internal trades 11:59pm 30 June 2024.
SEASONAL OUTLOOK
The BOM released an updated outlook on 23 May The full outlook can be viewed by clicking here but, in summary:
- Days and nights are likely to be warmer than average across the whole country.
- Rainfall is likely to be above average over parts of the south and west of the continent.
- Rainfall is likely to be below average for parts of the far south-east, including the far south-east of South Australia.
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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