Hawke's Bay to the world
Rockit chief executive Mark O'Donnell says consumer awareness for the brand continues to improve each year.
Beef and lamb exports paint two different pictures, according to the ASB’s Farmshed Economics report for August.
ASB rural economist Nathan Penny says the rise in lamb prices in August is normal for this quiet time of the season. And because the New Zealand dollar went largely sideways during the month, the lift is similar in NZD and foreign currency terms.
“But putting aside seasonal factors and the earlier NZ dollar fall, nothing much is doing in lamb markets. The same recent drivers of the price weakness are still in play,” Penny adds.
“Lamb supply, in particular, continues strong, pushing down prices. Strong domestic production in the key UK and Chinese markets has increased lamb (and sheep meat) supply. Supply has been similarly high here in NZ and in Australia.
“All up, we expect underlying lamb prices (in foreign currency terms) to remain weak over the next few months, particularly relative to a year ago.”
However, Penny says with further NZ dollar falls and the normal seasonal lift in prices may lead to a modest lift in farmgate prices.
Meanwhile, the ASB says records continue to tumble for beef prices.
“Over the July-August, the beef index has lifted a further 7%, setting fresh record highs. However, a potential price ceiling is emerging. It is likely that NZ will fill its US quota earlier this year, compared to last. This means average export prices may fall or plateau as meat companies are forced to divert beef to other lower-paying markets over coming months.
But whether this will translate into lower farmgate prices is less clear.
“Some meat companies may still have their share of quota in hand. As a result, robust local competition for beef is likely to keep prices strong. Either way, beef prices are likely to stay high over the coming months, though the current stratospheric prices may give way to merely sky-high ones. With that in mind, the outlook for the beef sector remains very positive.”
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.