Make it 1000%!
OPINION: The appendage swinging contest between the US and China continues, with China hitting back with a new rate of 125% on the US, up from the 84% announced earlier.
There are signs that the Chinese economy is rebounding after Covid-19, but dairy farmers may need to wait a little longer to reap the full benefits from their biggest market.
Westpac senior agri economist Nathan Penny notes that after growing at a paltry 3.5% over 2022, the Chinese economy should grow at around 6% over 2023.
"Already, we are seeing this impact in some of our export markets," says Penny.
"Sheepmeat markets have firmed and mutton and lamb flat prices, products popular in China, have jumped over the past few week. Similarly, export log prices have picked up, surging by around 20% since the start of the year."
In contrast, global dairy prices have largely yet to budge.
Penny points out that since the start of the year, overall prices have slid by around 5%, while whole milk powder prices have fallen by around 1%. The latest Global Dairy Trade (GDT) auction saw whole milk powder prices down 1.5% to US$3228/metric tonne.
"The exception to this overall weakness is butter prices, which have firmed by around 3% so far this year despite dropping in last week's GDT auction," he says.
"And this is the first sign that dairy demand is improving as Chinese consumers enjoy their newly found freedoms and head back out to restaurants, cafes and bakeries, places that use large quantities of butter."
The CEO of Apples and Pears NZ, Karen Morrish, says the strategic focus of her organisation is to improve grower returns.
A significant breakthrough in understanding facial eczema (FE) in livestock brings New Zealand closer to reducing the disease’s devastating impact on farmers, animals, and rural communities.
Farmer co-operative LIC has closed its satellite-backed pasture measurement platform – Space.
OPINION: The case of four Canterbury high country stations facing costly and complex consent hearing processes highlights the dilemma facing the farming sector as the country transitions into a replacement for the Resource Management Act (RMA).
The 2024-25 season apple harvest has “well and truly exceeded expectations”, says Apples and Pears NZ chief executive Karen Morrish.
Through collaborative efforts with exhibitors, visitors, and industry partners, Fieldays says it is reaffirming its commitment to environmental responsibility with new initiatives for 2025.
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