{"text_format":"1","workbook":"xlsx","n_sheets":31,"sheets":["Cover Page","Introduction","Southern MDB Correlations","SA Murray - Class 3a","Vic Murray AboveBC - High Rel","Vic Murray AboveBC - Low Rel","Vic Murray BelowBC - High Rel","Vic Murray BelowBC - Low Rel","Goulburn - High Reliability","Goulburn - Low Reliability","Campaspe - High Reliability","Loddon - High Reliability","NSW Murray - General Security","NSW Murray - High Security","NSW Murray Irrigation - Gen Sec","Murrumbidgee - General Sec","Murrumbidgee - High Sec","Lower Darling - General Sec","Lower Darling - High Sec","Northern MDB Correlations","Macquarie - General Security","Namoi - General Security","Gwydir - General Security","NSW Border Rivers - General Sec","Barwon Darling - Unregulated","Lachlan - General Security","QLD - Trade Summary","QLD - Condamine Balonne","QLD - Border Rivers","Appendix A","Appendix B"],"not_rendered":{"charts":52,"images":2,"macros":1,"external_links":2,"defined_names":231,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Cover Page","index":0,"n_rows":27,"n_cols":2,"rows_kept":27,"cut":false,"hidden":false,"merged":[]}
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[null,"Water entitlement market prices"]
[null,"Murray–Darling Basin"]
[null,"(January 2017)"]
[null,"Prepared for Australian Government Department of Agriculture and Water Resources"]
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[null,"Marsden Jacob Associates"]
[null,"Financial & Economic Consultants"]
[null,"ABN 66 663 324 657"]
[null,"ACN 072 233 204"]
[null,"Internet: http://www.marsdenjacob.com.au"]
[null,"E-mail: economists@marsdenjacob.com.au"]
[]
[]
[null,"This product has been prepared in accordance with the scope of services described in the contract or agreement between Marsden Jacob Associates Pty Ltd ACN 072 233 204 (MJA) and the Client. Any findings, conclusions or recommendations only apply to the aforementioned circumstances and no greater reliance should be assumed or drawn by the Client. Furthermore, the report has been prepared solely for use by the Client and Marsden Jacob Associates accepts no responsibility for its use by other parties."]
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[null,"Copyright © Marsden Jacob Associates Pty Ltd 2017"]

{"sheet":"Introduction","index":1,"n_rows":82,"n_cols":3,"rows_kept":82,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Introduction"]
[null,"This January 2017 monthly water entitlement market prices report has been prepared by Marsden Jacob Associates (Marsden Jacob) for the Australian Government Department of Agriculture and Water Resources."]
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[null,"A water access entitlement is a perpetual or ongoing entitlement to exclusive access to a share of water from a specified consumptive pool, as defined in the relevant water plan."]
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[null,"The report includes:"]
[null,"§  southern Murray–Darling Basin (MDB) market activity and price information, by region and entitlement type"]
[null,"§  northern MDB market activity and price information, by region and entitlement type"]
[null,"§  a list of catchments and water sources"]
[null,"§  a list of data outliers removed from the trade data"]
[]
[null,"Regions, entitlements and key statistics"]
[null,"The entitlement price report is broadly split into the southern and the northern MDB, as detailed in Table 1 and Table 2. Interactive maps showing the location of these trading regions are available on the Murray–Darling Basin Authority's website. "]
[]
[null,"The water sources included in each of the regions are listed in Appendix A."]
[]
[null,"Table 1: Regions and entitlement types, southern MDB"]
[null,"Region","Entitlement type"]
[null,"SA Murray","Class 3a"]
[null,"Vic. Murray above Barmah Choke","High reliability"]
[null,"Vic. Murray above Barmah Choke","Low reliability"]
[null,"Vic. Murray below Barmah Choke","High reliability"]
[null,"Vic. Murray below Barmah Choke","Low reliability"]
[null,"Goulburn","High reliability"]
[null,"Goulburn","Low reliability"]
[null,"Campaspe","High reliability"]
[null,"Loddon","High reliability"]
[null,"NSW Murray","General security"]
[null,"NSW Murray","High security"]
[null,"NSW Murray Irrigation Limited","General security"]
[null,"Murrumbidgee","General security"]
[null,"Murrumbidgee","High security"]
[null,"Lower Darling","General security"]
[null,"Lower Darling","High security"]
[]
[null,"Table 2: Regions and entitlement types, northern MDB"]
[null,"Region","Entitlement type"]
[null,"Macquarie","General security"]
[null,"Namoi","General security"]
[null,"Gwydir","General security"]
[null,"NSW Border Rivers","General security"]
[null,"Barwon–Darling","Unregulated"]
[null,"Lachlan","General security"]
[null,"Condamine–Balonne (St George)","Supplemented"]
[null,"Condamine–Balonne (Upper Condamine and Lower Balonne)","Unsupplemented"]
[null,"Central Condamine Alluvium Groundwater (1, 2, 3 and 4)","Groundwater (sub areas 1, 2, 3 and 4)"]
[null,"Upper Condamine Alluvium Groundwater (Dalrymple Creek)","Groundwater"]
[null,"Upper Condamine Alluvium Groundwater (Oakey Creek)","Groundwater"]
[null,"Qld Border Rivers","Supplemented"]
[null,"Qld Border Rivers","Unsupplemented"]
[null,"Lower Balonne","Overland flow"]
[]
[]
[null,"As requested by the department, for each of the regions and water entitlement categories Marsden Jacob reports a range of measures, subject to data availability and the number of trades:"]
[null,"§  volume weighted average price (VWAP)"]
[null,"§  median price"]
[null,"§  mean price"]
[null,"§  mode price"]
[null,"§  25th and 75th percentile prices"]
[null,"§  price quintiles"]
[null,"§  trade volume"]
[null,"§  number of trades"]
[null,"§  water trading exchange prices."]
[]
[null,"Data sources"]
[null,"The data sources for this report are:"]
[null,"§  National Water Market Register data, up to 31 December 2013"]
[null,"§  state government water registers and websites"]
[null,"§  water exchange and broker noticeboard prices."]
[]
[null,"Notes"]
[null,"Entitlement prices in the state government water registers can lag the exchange date of contracts or water sale agreements by periods of days to several months. This means the entitlement prices shown in the monthly and quarterly VWAPs may not reflect all exchanges during the month."]
[]
[null,"Entitlement prices that do not appear to reflect arm’s-length transactions have been excluded in the data cleaning process (see Appendix B). "]
[null,"Removing these values reduces price distortions in the reporting. This means prices in this report may differ from prices shown in registers where these transactions have not been removed."]
[]
[null,"Marsden Jacob uses a two-stage process to clean the data:"]
[null,"1.      Removing prices that may not be genuine; for example, removing transactions where the price was reported to be null ($0 per ML)"]
[null,"2.      Reviewing and potentially removing transactions outside two standard deviations from the average price of water entitlements by region (or trading zone) and by water product."]
[]
[null,"Marsden Jacob does not necessarily remove all trades that fall outside two standard deviations, as some of them reflect arm’s-length trades. If trades that fall outside two standard deviations are retained in the regional dataset, this is noted in the region and entitlement-specific reports. Also, trades that fall within two standard deviations but are removed because they are not considered representative on the basis of recent data trends are also noted in the region and entitlement-specific reports as well as Appendix B."]

{"sheet":"Southern MDB Correlations","index":2,"n_rows":66,"n_cols":2,"rows_kept":66,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Southern Murray–Darling Basin"]
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[null,"Price correlations in the southern MDB, high security, high reliability, Class 3a, September 2009 to January 2017"]
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[null,"Price correlations in the southern MDB, general security, low reliability, September 2009 to January 2017"]
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[null,"Source: Marsden Jacob analysis, 2017."]

{"sheet":"SA Murray - Class 3a","index":3,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Southern Australian Murray: Class 3a"]
[]
[null,"Entitlement market prices and volumes, SA Murray, Class 3a, September 2009 to January 2017"]
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[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Entitlement market prices and volumes, SA Murray, Class 3a"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,2905.3733976097287,2758.2261310800318,2672.9770066995388,2950,3000,2950,2948.7499201849155,2950,1124.7260000000001,16,"2 600 - 3 000"]
[]
[null,"Entitlement market price range, SA Murray, Class 3a, by volume month January 2017"]

{"sheet":"Vic Murray AboveBC - High Rel","index":4,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Victorian Murray above Barmah Choke: high reliability"]
[]
[null,"Entitlement market prices and volumes, Vic. Murray above Barmah Choke, high reliability, September 2009 to January 2017"]
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[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Entitlement market prices and volumes, Vic. Murray above Barmah Choke, high reliability"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,2386.3929922135703,2502.3109868593951,2557.8142231219222,2365.4,2475,2400,2421.3109090909093,2400,269.7,11,"2 450 - 2 700"]
[]
[null,"Entitlement market price range, Vic. Murray above Barmah Choke, high reliability, by volume month January 2017"]

{"sheet":"Vic Murray AboveBC - Low Rel","index":5,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Victorian Murray above Barmah Choke: low reliability"]
[]
[null,"Entitlement market prices and volumes, Vic. Murray above Barmah Choke, low reliability, September 2009 to January 2017"]
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[]
[]
[]
[]
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[]
[]
[]
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[]
[]
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[]
[]
[null,"Entitlement market prices and volumes, Vic. Murray above Barmah Choke, low reliability"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,239.27482792527044,242.15124753493961,233.25168593430163,215,247.5,235,234.16666666666666,210,406.79999999999995,6,"260 - 300"]
[]
[null,"Entitlement market price range, Vic. Murray above Barmah Choke, low reliability, by volume month January 2017"]

{"sheet":"Vic Murray BelowBC - High Rel","index":6,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Victorian Murray below Barmah Choke: high reliability"]
[]
[null,"Entitlement market prices and volumes, Vic. Murray below Barmah Choke, high reliability, September 2009 to January 2017"]
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[]
[]
[]
[]
[]
[]
[]
[]
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[]
[]
[]
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[]
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[null,"Entitlement market prices and volumes, Vic. Murray below Barmah Choke, high reliability"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,2902.0418596416685,2823.6023425231715,2889.4489407324768,2712.5,2850,2800,2711.3449999999998,2800,4236.3,50,"2 700 - 2 900"]
[]
[null,"Entitlement market price range, Vic. Murray below Barmah Choke, high reliability, by volume month January 2017"]

{"sheet":"Vic Murray BelowBC - Low Rel","index":7,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Victorian Murray below Barmah Choke: low reliability"]
[]
[null,"Entitlement market prices and volumes, Vic. Murray below Barmah Choke, low reliability, September 2009 to January 2017"]
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[]
[]
[]
[]
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[]
[]
[]
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[]
[]
[]
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[]
[]
[null,"Entitlement market prices and volumes, Vic. Murray below Barmah Choke, low reliability"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,276.79241516966067,259.20581320224716,263.70358921421422,250,276.25,262.5,265.75,250,250.5,8,"275 - 310"]
[]
[null,"Entitlement market price range, Vic. Murray below Barmah Choke, low reliability, by volume month January 2017"]

{"sheet":"Goulburn - High Reliability","index":8,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Goulburn: high reliability"]
[]
[null,"Entitlement market prices and volumes, Goulburn, high reliability, September 2009 to January 2017"]
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[]
[]
[]
[]
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[]
[]
[]
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[]
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[]
[]
[]
[]
[null,"Entitlement market prices and volumes, Goulburn, high reliability"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,2524.6612938420349,2523.2929763702077,2704.1204751779856,2480,2625,2550,2530.2111475409833,2500,2988,61,"2 500 - 2 700"]
[]
[null,"Entitlement market price range, Goulburn, high reliability, by volume month January 2017"]

{"sheet":"Goulburn - Low Reliability","index":9,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Goulburn: low reliability"]
[]
[null,"Entitlement market prices and volumes, Goulburn, low reliability, September 2009 to January 2017"]
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[]
[]
[]
[]
[]
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[]
[]
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[]
[]
[null,"Entitlement market prices and volumes, Goulburn, low reliability"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,251.50713898427617,247.61946721241873,234.35617213071177,240,258.75,250,248.09090909090909,240,1659.8999999999999,22,"260 - 300"]
[]
[null,"Entitlement market price range, Goulburn, low reliability, by volume month January 2017"]

{"sheet":"Campaspe - High Reliability","index":10,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Campaspe: high reliability"]
[]
[null,"Entitlement market prices and volumes, Campaspe, high reliability, September 2009 to January 2017"]
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[null,"Entitlement market prices and volumes, Campaspe, high reliability"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,2373.9520958083831,2221.4776632302405,2303.4464365049976,2362.5,2387.5,2375,2375,"-",83.5,2,"2 500 - 2 700"]
[]
[null,"Entitlement market price range, Campaspe, high reliability, by volume month January 2017"]

{"sheet":"Loddon - High Reliability","index":11,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Loddon: high reliability"]
[]
[null,"Entitlement market prices and volumes, Loddon, high reliability, September 2009 to January 2017"]
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[]
[]
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[]
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[null,"Entitlement market prices and volumes, Loddon, high reliability"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,2000,1988.8015717092339,1739.7362567524626,2000,2000,2000,2000,2000,147,2,"No listings"]
[]
[null,"Entitlement market price range, Loddon, high reliability, by volume month January 2017"]

{"sheet":"NSW Murray - General Security","index":12,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"New South Wales Murray: general security"]
[]
[null,"Entitlement market prices and volumes, NSW Murray, general security, September 2009 to January 2017"]
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[]
[]
[]
[]
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[]
[]
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[]
[]
[]
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[]
[]
[null,"Entitlement market prices and volumes, NSW Murray, general security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,1248.7954110898661,1210.7692307692307,1164.5955484570154,1216.25,1285,1267.5,1233.75,"-",1046,4,"1 200 - 1 350"]
[]
[null,"Entitlement market price range, NSW Murray, general security, by volume month January 2017"]

{"sheet":"NSW Murray - High Security","index":13,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"New South Wales Murray: high security"]
[]
[null,"Entitlement market prices and volumes, NSW Murray, high security, September 2009 to January 2017"]
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[]
[]
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[null,"Entitlement market prices and volumes, NSW Murray, high security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,3277.7586206896553,3477.474178403756,3212.9635861457286,3250,3260,3250,3226,3250,58,5,"3 000 - 3 500"]
[]
[null,"Entitlement market price range, NSW Murray, high security, by volume month January 2017"]

{"sheet":"NSW Murray Irrigation - Gen Sec","index":14,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"New South Wales Murray Irrigation Limited"]
[]
[null,"Entitlement market prices and volumes, NSW Murray Irrigation Limited, general security, September 2009 to January 2017"]
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[]
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[]
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[]
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[]
[]
[null,"Entitlement market prices and volumes, NSW Murray Irrigation Limited, general security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,1232.1107567410843,1223.1525735294117,1143.2747835660311,1238.75,1250,1250,1240,1250,3449,8,"1 200 - 1 300"]
[]
[null,"Entitlement market price range, NSW Murray Irrigation Limited, general security, by volume month January 2017"]

{"sheet":"Murrumbidgee - General Sec","index":15,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Murrumbidgee: general security"]
[]
[null,"Entitlement market prices and volumes, Murrumbidgee, general security, September 2009 to January 2017"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Entitlement market prices and volumes, Murrumbidgee, general security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,1479.3107881773396,1394.2265182648403,1409.9209857340998,1435.2950000000001,1485.2950000000001,1470.59,1456.8633333333335,0,203,3,"1 350 - 1 550"]
[]
[null,"Entitlement market price range, Murrumbidgee, general security, by volume month January 2017"]

{"sheet":"Murrumbidgee - High Sec","index":16,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Murrumbidgee: high security"]
[]
[null,"Entitlement market prices and volumes, Murrumbidgee, high security, September 2009 to January 2017"]
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[]
[]
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[]
[]
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[]
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[]
[]
[null,"Entitlement market prices and volumes, Murrumbidgee, high security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,3550,3563.4284016636957,3505.5439330543932,3550,3550,3550,3550,3550,150,3,"3 400 - 3 600"]
[]
[null,"Entitlement market price range, Murrumbidgee, high security, by volume month January 2017"]

{"sheet":"Lower Darling - General Sec","index":17,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Lower Darling: general security"]
[]
[null,"Entitlement market prices and volumes, Lower Darling, general security, September 2009 to January 2017"]
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[]
[]
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[]
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[]
[]
[null,"Entitlement market prices and volumes, Lower Darling, general security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,"-","-","-","-","-","-","-","-","-","-","No listings"]
[]
[null,"Entitlement market price range, Lower Darling, general security, by volume month January 2017"]

{"sheet":"Lower Darling - High Sec","index":18,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Lower Darling: high security"]
[]
[null,"Entitlement market prices and volumes, Lower Darling, high security, September 2009 to January 2017"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Entitlement market prices and volumes, Lower Darling, high security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,"-","-",1649.5283018867924,"-","-","-","-","-","-","-","No listings"]
[]
[null,"Entitlement market price range,Lower Darling, high security, by volume month January 2017"]

{"sheet":"Northern MDB Correlations","index":19,"n_rows":32,"n_cols":2,"rows_kept":32,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Northern Murray–Darling Basin"]
[]
[null,"Price correlations in the northern MDB, general security, September 2009 to January 2017"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Source: Marsden Jacob analysis, 2017."]

{"sheet":"Macquarie - General Security","index":20,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Macquarie: general security"]
[]
[null,"Entitlement market prices and volumes, Macquarie, general security, September 2009 to January 2017"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Entitlement market prices and volumes, Macquarie, general security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,1000,945.10076441973592,947.66318168974283,1000,1000,1000,1000,1000,339,2,"1 100 - 1 300"]
[]
[null,"Entitlement market price range, Macquarie, general security, by volume month January 2017"]

{"sheet":"Namoi - General Security","index":21,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Namoi: general security"]
[]
[null,"Entitlement market prices and volumes,Namoi, general security, September 2009 to January 2017"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Entitlement market prices and volumes, Namoi, general security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,2089.7600000000002,2087.9246326707002,1999.3119504589577,2089.7600000000002,2089.7600000000002,2089.7600000000002,2089.7600000000002,"-",205,1,"1 850 - 2 100"]
[]
[null,"Entitlement market price range, Namoi, general security, by volume month January 2017"]

{"sheet":"Gwydir - General Security","index":22,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Gwydir: general security"]
[]
[null,"Entitlement market prices and volumes, Gwydir, general security, September 2009 to January 2017"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Entitlement market prices and volumes, Gwydir, general security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,"-",2262.4069300911851,2222.8626599965501,"-","-","-","-","-","-","-","2 100 - 2 300"]
[]
[null,"Entitlement market price range, Gwydir, general security, by volume month January 2017"]

{"sheet":"NSW Border Rivers - General Sec","index":23,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"New South Wales Border Rivers: general security"]
[]
[null,"Entitlement market prices and volumes, NSW Border Rivers, general security, September 2009 to January 2017"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Entitlement market prices and volumes, NSW Border Rivers, general security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,3250,3287.5,2257.6947469458987,3250,3250,3250,3250,"-",10,1,"2 000 - 3 500"]
[]
[null,"Entitlement market price range, NSW Border Rivers, general security, by volume month January 2017"]

{"sheet":"Barwon Darling - Unregulated","index":24,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Barwon–Darling: unregulated"]
[]
[null,"Entitlement market prices and volumes, Barwon–Darling, unregulated, September 2009 to January 2017"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Entitlement market prices and volumes, Barwon–Darling, unregulated"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,"-","-",1109,"-","-","-","-","-","-","-","1 100 - 1 400"]
[]
[null,"Entitlement market price range, Barwon–Darling, unregulated, by volume month January 2017"]

{"sheet":"Lachlan - General Security","index":25,"n_rows":26,"n_cols":12,"rows_kept":26,"cut":false,"hidden":false,"merged":[[21,1,21,3],[21,4,21,8],[21,9,22,9],[21,10,22,10],[21,11,22,11]]}
[]
[null,"Lachlan: General security"]
[]
[null,"Entitlement market prices and volumes, Lachlan, general security, September 2009 to January 2017"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Entitlement market prices and volumes, Lachlan, general security"]
[null,"Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,569,478.85892000000007,476.916109717344,569,569,569,569,"-",200,1,"450 - 650"]
[]
[null,"Entitlement market price range, Lachlan, general security, by volume month January 2017"]

{"sheet":"QLD - Trade Summary","index":26,"n_rows":12,"n_cols":15,"rows_kept":12,"cut":false,"hidden":false,"merged":[[4,12,5,12],[4,13,5,13],[4,14,5,14],[4,1,5,1],[4,2,5,2],[4,3,5,3],[4,4,4,6],[4,7,4,11]]}
[]
[null,"Queensland: Trade Summary"]
[]
[null,"Entitlement market prices and volumes, Lachlan, general security"]
[null,"Resource Operation Plan","Water Supply Scheme / Water Management Area","Type of Entitlement","Volume weighted average price ($/ML)",null,null,"January 2017 (in $/ML)",null,null,null,null,"January 2017 Volume","January 2017 # of trades","Broker buy/sell range ($/ML)"]
[null,null,null,null,"Month of January 2017","January 2017 Quarter","YTD ","25th percentile","75th percentile","Median","Mean","Mode"]
[null,"QLD Border Rivers","Border Rivers/ Macintyre Brook","Supplemented","-","-","1 600","-","-","-","-","-","-","-","No listings"]
[null,"QLD Border Rivers","Border Rivers","Unsupplemented","-","-","1 734","-","-","-","-","-","-","-","No listings"]
[null,"Condamine-Balonne","St. George / Upper Condamine","Supplemented","-","2 000","1 365","-","-","-","-","-","-","-","No listings"]
[null,"Condamine-Balonne","Condamine Balonne / Lower Balonne / Upper Condamine","Unsupplemented","-","1 825","1 467","-","-","-","-","-","-","-","No listings"]
[null,"Condamine-Balonne","Upper Condamine","Alluvium Ground-water","-","-","-","-","-","-","-","-","-","-","No listings"]
[null,"Condamine-Balonne","Lower Balonne","Overland Flow","-","-","-","-","-","-","-","-","-","-","No listings"]

{"sheet":"QLD - Condamine Balonne","index":27,"n_rows":60,"n_cols":2,"rows_kept":60,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Condamine Balonne: Supplemented"]
[]
[null,"Entitlement market prices and volumes, Condamine_Balonne - Supplemented, September 2009 to December 2016"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Note: No trades have been reported for Queensland in January 2017. Charts show the monthly trade volume and value until the end of December."]
[]
[null,"Condamine Balonne: Unsupplemented"]
[]
[null,"Entitlement market prices and volumes, Condamine_Balonne - Unsupplemented, September 2009 to December 2016"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Note: No trades have been reported for Queensland in January 2017. Charts show the monthly trade volume and value until the end of December."]
[]
[null,"Condamine Balonne: Alluvium Groundwater"]
[]
[null,"Entitlement market prices and volumes, Condamine_Balonne - Alluvium Groundwater, September 2009 to December 2016"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Note: No trades have been reported for Queensland in January 2017. Charts show the monthly trade volume and value until the end of December."]

{"sheet":"QLD - Border Rivers","index":28,"n_rows":40,"n_cols":2,"rows_kept":40,"cut":false,"hidden":false,"merged":[]}
[]
[null,"QLD Border Rivers: Supplemented"]
[]
[null,"Entitlement market prices and volumes, QLD_Border_Rivers - Supplemented, September 2009 to December 2016"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Note: No trades have been reported for Queensland in January 2017. Charts show the monthly trade volume and value until the end of December."]
[]
[null,"QLD Border Rivers: Unsupplemented"]
[]
[null,"Entitlement market prices and volumes, QLD_Border_Rivers - Unsupplemented, September 2009 to December 2016"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Note: No trades have been reported for Queensland in January 2017. Charts show the monthly trade volume and value until the end of December."]

{"sheet":"Appendix A","index":29,"n_rows":27,"n_cols":3,"rows_kept":27,"cut":false,"hidden":false,"merged":[]}
[null,"Appendix A: Regions and water sources"]
[null,"Table A1 Water sources (southern MDB)"]
[null,"Region","Water source"]
[null,"SA Murray","River Murray Prescribed Water Course (Class 3a)"]
[null,"Vic. Murray above Barmah Choke","6 Vic. Murray Dart to Barmah"]
[null,"Vic. Murray below Barmah Choke","7 Vic. Murray Barmah to SA "]
[null,null,"6B Lower Broken Creek"]
[null,"Goulburn","1A Greater Goulburn "]
[null,null,"1B Boort"]
[null,null,"3 Lower Goulburn"]
[null,"Campaspe","4A Campaspe Eppalock to WWC "]
[null,null,"4C Lower Campaspe"]
[null,"Loddon","5A Loddon–Coliban Channel to Lower Weir Pool (now 5A Loddon – CC/Tull to LWP)"]
[null,null,"5B Bullarook"]
[null,"NSW Murray","New South Wales Murray Regulated River Water Source"]
[null,"Murrumbidgee","Murrumbidgee Regulated River Water Source"]
[null,"Lower Darling","Lower Darling Regulated River Water Source"]
[]
[null,"Table A2 Water sources (northern MDB)"]
[null,"Region","Water source"]
[null,"Macquarie","Macquarie and Cudgegong Regulated Rivers Water Source"]
[null,"Namoi","Lower Namoi Regulated River Water Source"]
[null,null,"Upper Namoi Regulated River Water Source"]
[null,"Gwydir","Gwydir Regulated River Water Source"]
[null,"NSW Border Rivers","Border Rivers Regulated River Water Source"]
[null,"Barwon–Darling","Barwon–Darling Unregulated River Water Source"]
[null,"Lachlan","Lachlan Regulated River Water Source"]

{"sheet":"Appendix B","index":30,"n_rows":40,"n_cols":7,"rows_kept":40,"cut":false,"hidden":false,"merged":[]}
[null,"Appendix B: Trades Excluded"]
[]
[null,"Table B1 shows trades that have been excluded from the January 2017 analysis."]
[]
[null,"Table B1 Outliers removed from trade data"]
[null,"Date","Catchment","Product name","Volume (ML)","Price ($)","Price per ML ($/ML)"]
[null,"2017-01-23","Campaspe","High Reliability",1,2800,2800]
[null,"2017-01-04","Goulburn","High Reliability",6.5,19500,3000]
[null,"2017-01-10","Goulburn","High Reliability",5.5,1320,240]
[null,"2017-01-16","Goulburn","High Reliability",1,1500,1500]
[null,"2017-01-16","Goulburn","High Reliability",2.9,4350,1500]
[null,"2017-01-23","Goulburn","High Reliability",12,25200,2100]
[null,"2017-01-25","Goulburn","High Reliability",2,3000,1500]
[null,"2017-01-25","Goulburn","High Reliability",2,3000,1500]
[null,"2017-01-12","Goulburn","Low Reliability",0.5,55,110]
[null,"2017-01-23","Goulburn","Low Reliability",4.9000000000000004,882.00000000000011,180]
[null,"2017-01-30","Goulburn","Low Reliability",3.8,523.98199999999997,137.88999999999999]
[null,"2017-01-17","NSW_Murray","General Security",21,6499.92,309.52]
[null,"2017-01-06","NSW_Murray","NOT_ALLOC",3,15000,5000]
[null,"2017-01-07","NSW_Murray","NOT_ALLOC",8,1.04,0.13]
[null,"2017-01-12","NSW_Murray","NOT_ALLOC",4000,9360000,2340]
[null,"2017-01-17","NSW_Murray","NOT_ALLOC",8,1.04,0.13]
[null,"2017-01-17","NSW_Murray","NOT_ALLOC",1.3332999999999999,0.99997499999999995,0.75]
[null,"2017-01-17","NSW_Murray","NOT_ALLOC",8,1.04,0.13]
[null,"2017-01-23","NSW_Murray","NOT_ALLOC",60,19200,320]
[null,"2017-01-23","NSW_Murray_Irrigation","General Security",10,7500,750]
[null,"2017-01-06","Vic_Murray_AboveBC","High Reliability",25,37500,1500]
[null,"2017-01-04","Vic_Murray_AboveBC","Low Reliability",18.7,3366,180]
[null,"2017-01-13","Vic_Murray_AboveBC","Low Reliability",62.9,10693,170]
[null,"2017-01-05","Vic_Murray_BelowBC","High Reliability",10,58000,5800]
[null,"2017-01-12","Vic_Murray_BelowBC","High Reliability",2,2500,1250]
[null,"2017-01-13","Vic_Murray_BelowBC","High Reliability",4.9000000000000004,999.99200000000019,204.08]
[null,"2017-01-17","Vic_Murray_BelowBC","High Reliability",5,6750,1350]
[null,"2017-01-17","Vic_Murray_BelowBC","High Reliability",2,1350,675]
[null,"2017-01-17","Vic_Murray_BelowBC","High Reliability",85,151499.75,1782.35]
[null,"2017-01-23","Vic_Murray_BelowBC","High Reliability",10,275000,27500]
[null,"2017-01-04","Vic_Murray_BelowBC","Low Reliability",21.1,7728.9300000000012,366.3]
[null,"2017-01-04","Vic_Murray_BelowBC","Low Reliability",49.4,18096.207999999999,366.32]
[]
[null,"* - Trades are within the bounds of two standard deviations for the catchment, but have been excluded"]