A key component of this process is by conducting a robust end-of-financial-year (EOFY) analysis.
A key area farmers will be scrutinising this year will be their feed cost, in particular the balance between irrigation water availability/cost and the comparative cost of purchasing of external feed such as hay and grain.
In the Murray region, where water is both a vital asset and a considerable expense, farmers must navigate fluctuating water allocations, price volatility and seasonal uncertainty.
Water prices in the southern Murray-Darling Basin have ranged from $90/Ml to more than $200/Ml in recent seasons
Conversely, while purchased feed offers flexibility, it also comes with price exposure.
For example, in the 2023-24 season, average prices for cereal hay in northern Victoria ranged from $300/tonne to $400/tonne, and grain costs fluctuated based on both domestic and global market pressures.
Developing a farm-specific strategy that integrates water availability with feed planning is essential.
Farm business analysis tools, such as DairyBase, offer valuable benchmarking insights and allow farmers to model financial outcomes based on different feed and water use scenarios.
Feed Budgeting tools can also be used to forecast demand and identify potential shortfalls early, supporting proactive purchasing decisions and risk mitigation.
This EOFY period is also a timely moment to reflect on broader farm performance —reviewing milk income, input costs, labour efficiency and environmental stewardship.
Integrated planning that connects water, feed and financial data not only supports profitability but builds the resilience of the farm system heading into the 2025-26 financial year.
Dairy Australia continues to support dairy businesses in the Murray region with evidence-based tools and advisory support designed to help farmers optimise input use and respond to seasonal pressures with confidence.
To explore the full suite of water and feed planning tools, visit bit.ly/4iYyApJ and for tailored assistance, contact the Dairy Australia Murray team on 4811 6008.
– From Dairy Australia Murray.
