Struggling? Give us a call
ASB head of rural banking Aidan Gent is encouraging farmers to speak to their banks when they are struggling.
The GlobalDairyTrade Event 173 concluded with the GDT Price Index down 3% over night.
“In view of the recent price surge, it is not surprising dairy markets wanted to catch their breath. WMP prices, for example, had spiked 35% over August and September,” says ASB senior rural economist Nathan Penny.
Whole milk powder (WMP) and skim milk powder (SMP) prices dipped 3.8% and 3.9%, respectively.
“The result was a touch weaker than expectations heading in. Futures market pricing hinted at a WMP fall in the 0% to 2% range prior to the auction.
“The price dip was broad-based, with seven out of eight products on offer recording price falls. Only butter milk powder recorded a rise (up 9.3%).
“From here, we expect prices to track largely sideways over coming auctions as markets wait for further confirmation of weakening NZ production.”
Key Results
AMF index down 1.0%, average price US$4,954/MT
Butter index down 0.3%, average price US$3,891/MT
BMP index up 9.3%, average price US$2,408/MT
Ched index down 2.3%, average price US$3,430/MT
LAC index down 9.7%, average price US$744/MT
RenCas index down 3.7%, average price US$6,574/MT
SMP index down 3.9%, average price US$2,209/MT
WMP index down 3.8%, average price US$2,681/MT
OPINION: In recent years farmers have been crying foul of unworkable and expensive regulations.
Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
Making things simpler, not harder, for deer farmers in farm planning and coping with regulations is Deer Industry New Zealand (DINZ) industry capability manager John Ladley’s current focus.
Rural Women New Zealand (RWNZ) is launching an online business directory called The Country Women’s Collective to promote and support entrepreneurial rural women.
New Zealand actor Sam Neill has joined the Campaign for Wool NZ as an ambassador, lending his name and profile to educate and advocate for New Zealand strong wool.