12/09/2007
Yet another record price for wheat on the Chicago Board of Trade has raised fears about the ability of farmers to feed livestock.
Prices today have hit AU$395 dollars per tonne for December contracts.
And wheat prices in the eastern states are now at around $360 a tonne on farm as more crops fail by the day.
New South Wales Rural Lands Protection Board veternarian John Evers says it is just not economically viable to feed stock at current prices.
"Things like drought lots which relied on grain rations, which were very successful over the last few years, may not be economic for large numbers of stock this year," he said.
"The economics of feeding merino weaners or production feeding, finishing off lambs [and] steers look very dodgy on these sort of fodder prices so I think there is going to have to be more destocking."
