Volumes decline, values hold steady
Recently released data from the Real Estate Institute of New Zealand (REINZ) shows there were 224 fewer farm sales (-48.6%) for the three months ended April 2023, compared to the same period last year.
THE REAL Estate Institute of New Zealand's dairy farm price index is up 34.4% year on year, figures released for the three months ending October show.
Median price per hectare was $43,299 across 23 dairy properties sold compared to $32,701 and 37 properties for the three months ended October 2013. Median area this year was 97ha and production 1,062kgMS/ha.
Compared to the three months ending September, when the median was $40,462 across 20 properties, October's index was up 7.3%. The index adjusts for differences in farm size and location, whereas median prices do not.
"Sales figures for the three month period ending October reflect an awakening market, with a strong build-up moving into spring", says REINZ rural spokesman Brian Peacocke.
"A large number of properties throughout the North Island have been marketed during October, but with unconditional dates after the end of the month the results will not be known until the November data is available," he says.
"Feedback from around the country indicates strong buyer enquiry, careful due diligence being undertaken by purchases and a market fully firm on last season."
Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.
Shipping disruption caused by Houthi rebels in the Red Sea has so far not impacted fertiliser prices or supply on farm.
The opportunity to spend more time on farm while providing a dedicated service for shareholders attracted new environmental manager Ben Howden to work for Waimakariri Irrigation Limited (WIL).
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.
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