ASB launches new loan to help NZ farmers switch to solar power
As electricity prices soar, farmers appear to be looking for alternative energy sources.
Dairy prices are low and likely to stay that way a while longer, according to the latest ASB Farmshed Economics Report.
"After a drought-driven false dawn earlier this year, prices are at their lowest in five years," says ASB's rural economist Nathan Penny.
"This is driven by a potent mix of domestic production getting a second wind and demand remaining weak. However, we still expect production to slow down to the point where demand can catch up, just later than previously expected."
ASB has cut its forecast for the 2015-16 season to $5.70/kgMS as well as adopting Fonterra's lowered 2014-15 milk price forecast of $4.50/kg MS.
Penny says it also now expects the RBNZ to cut the OCR this year, most likely by 25bp in each of September and October.
"The lower interest rate outlook has let some of the hot air out of the NZD, and it has started to fall against most major currencies. Also in the end, the NZD never reached its threatened parity with the AUD. If we do see the NZD weaken over the year, the lower NZD will support farmers' export returns in NZ dollars and make NZ products more competitive in international markets."
Newly elected Federated Farmers meat and wool group chair Richard Dawkins says he will continue the great work done his predecessor Toby Williams.
Hosted by ginger dynamo Te Radar, the Fieldays Innovation Award Winners Event put the spotlight on the agricultural industry's most promising ideas.
According to DairyNZ's latest Econ Tracker update, there has been a rise in the forecast breakeven milk price for the 2025/26 season.
Despite the rain and a liberal coating of mud, engines roared, and the 50th Fieldays Tractor Pull Competition drew crowds of spectators across the four days of the annual event.
Nationwide rural wellbeing programme, Farmstrong recently celebrated its tenth birthday at Fieldays with an event attended by ambassador Sam Whitelock, Farmers Mutual Group (FMG), Farmstrong partners, and government Ministers.
Six industry organisations, including DairyNZ and the Dairy Companies Association (DCANZ) have signed an agreement with the Ministry for Primary Industries (MPI) to prepare the country for a potential foot and mouth outbreak.
OPINION: It's official, Fieldays 2025 clocked 110,000 visitors over the four days.
OPINION: The Federated Farmers rural advocacy hub at Fieldays has been touted as a great success.