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Meat and wool exports expected to rise this season.
HIGHER SHEEP and beef prices seem set to buffer the drop in export earnings from dairying, according to the latest economic update from the Ministry for Primary Industries (MPI).
Not surprisingly MPI is forecasting a 9.5% drop in total export earnings to $34.6 billion for the 2014-15 season, caused by a 23.5% drop in dairy exports.
The report says meat and wool exports this season will rise by 6.4% to $8.611 billion and horticulture and seafood exports will rise, but forestry will drop.
Global beef prices are expected to stay high for the next two years, offering an opportunity for farmers. Current high prices will enable farmers to invest in the quality of their herds to target higher value from each animal, says MPI. The retention of dairy calves offers another opportunity.
On the dairy side, MPI is forecasting a $4.82/kgMS farmgate payout – higher than Fonterra’s latest forecast and much higher than predicted by many analysts. There is talk of a payout about $4.40kgMS.
Looking a year ahead, MPI forecasts that primary exports in 2015-16 will be $36.1 billion – up 4.3% on this season. This is based on an improved performance in all sectors including dairying.
Horticulture New Zealand (HortNZ) says a new report projects strong export growth for New Zealand's horticulture sector highlights the industry's increasing contribution to the national economy.
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The conversion of productive farmland into trees has pretty much annihilated the wool industry.
Global trade wars and uncertain tariff regimes could play into the hands of many New Zealand exporters, according to Gareth Coleman ANZ’s Head of Trade & Supply Chain.
Chinese textile company Saibosi has partnered with Wools of New Zealand to put the 'farm to floor' story of New Zealand wool rugs on screen for its customers.
The sale of Fonterra’s global consumer and related businesses is expected to be completed within two months.
Fonterra is boosting its butter production capacity to meet growing demand.
For the most part, dairy farmers in the Waikato, Bay of Plenty, Tairawhiti and the Manawatu appear to have not been too badly affected by recent storms across the upper North Island.
South Island dairy production is up on last year despite an unusually wet, dull and stormy summer, says DairyNZ lower South Island regional manager Jared Stockman.
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