Editorial: Farm salaries get a boost
OPINION: The recent Federated Farmers / Rabobank 2024 Farming Salaries Report revealed strong growth in farm salaries over the past two years.
New Zealand milk production has stayed stronger for longer than anticipated, matching the exceptional prior-year comparables will become more difficult beyond Christmas, says Rabobank's quarterly report.
Compared to last year, feed reserves are reduced, milk prices are lower, and the probability of ideal climatic conditions occurring two years in a row is very small, the report says.
Many New Zealand farmers are also entering the second half of the season with below-average soil moisture levels, making pasture growth susceptible to any dry spells.
Rabobank says the slow recovery in international dairy prices that started in August 2012 continues through Q4, but failed to regain strong legs.
Upward pressure on prices was created in part by the first contraction in milk supply in export regions since early 2010.
The fact that this contraction failed to generate a stronger rise in prices suggest that consumption was weaker than anticipated and key buyers have accumulated solid forward coverage.
Milk production growth in key export regions is expected to continue to fall below prior-year levels through the first half of 2013, the report says.
While current buyer inventories will provide temporary protection from supply shortages, the market will inevitably tighten further if there is even a modest improvement in demand for imports from key buying regions – which appears highly likely.
But the timing and vigour of the market peak has likely been pushed back and will be softened by a weaker economic outlook than envisaged three months ago.
OPINION: The recent Federated Farmers / Rabobank 2024 Farming Salaries Report revealed strong growth in farm salaries over the past two years.
The low unemployment environment is one of the key factors driving on-farm salaries higher over the past 24 months, says Rabobank general manager for country banking Bruce Weir.
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
A seminar on rural dispute resolution has been organised at Lincoln University, Christchurch this month.
The legacy of Dr Peter Snow continues to inspire as the recipients of the 2023 and 2024 Peter Snow Memorial Awards were announced at the recent National Rural Health Conference.
One of Fonterra’s global customers, Mars is launching an ambitious sustainable dairy plan to work with dairy farmers and cut emissions by 50%.
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.