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Grain Stocks down on last year

2 August 2013

Grain Stocks down on last year


Federated Farmers urges Grain & Seed farmers to take note of figures released this afternoon by the Arable Industry Marketing Initiative (AIMI). These figures show the strong demand for feed during the drought and other events has resulted in lower stocks of unsold feed grains, despite another year of high yield in cereals.

“Based on these figures, and what I see around me, I would expect stocks of feed grain to be tight going through to next harvest” says Ian Mackenzie, Federated Farmers Grain & Seed Chairman.

“According to the AIMI Survey, unsold feed barley stocks are down 40 percent on last year’s total, ending 1 July. This is a similar amount to 2011 when feed barley became difficult to source toward the end of the year.

“Unsold feed wheat stocks look healthier although they are still at a level somewhat lower than at this time last year.

“Dairy confidence is up with the recent revised forecast payout, which is likely to increase demand for grain products. We have seen the price moving upward in recent weeks, which reflects that.

“My advice to livestock farmers is to secure feed grains sooner rather than later

“I would encourage all Grain & Seed industry participants to look at these figures carefully and make full use of the tool where possible. The undertaking of this survey is an industry initiative to address the knowledge gap between growers/sellers and buyers, who have professional staff, dedicated monitoring the supply and demand situation.” Mr Mackenzie concluded.

ends

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