Bank's desire to be part of the solution
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Milk production is continuing to boom.
According to ASB Commodities Weekly report, last month milk solid production was up a whopping 7.7% on January 2018.
This was the largest increase since June 2018; season to date production is now running 5.6% ahead of 2017-18.
ASB senior rural economist Nathan Penny says this season is already on track to shatter records.
“Though we anticipate the hot weather might start to weigh on February production. As January drew to a close, the country entered a heatwave and record temperatures were recorded across several parts of New Zealand.
“Whilst drought is a perennial concern in summer, this year it's the heat itself that has drawn notice.”
Penny notes that elevated temperatures are impacting the behaviour of livestock, with some cows even “too hot to eat.”
Given that temperatures only peaked towards the end of the month, January’s production data will not have captured the full impact, he notes.
‘We will be closely watching February’s figures (due mid-March), to see if production starts to soften. We currently project 5% growth in milk solids production across the 2018/19 season, a shade more bullish than other forecasters.”
ASB’s 2018-19 milk price forecast stands at $6.25/kgMS; it is forecasting an opening price of $7/kgMS next season.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
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