RWNZ chief executive to step down
Rural Women New Zealand (RWNZ) chief executive Gabrielle O’Brien will step down at the end of June.
The Omicron outbreak in China that sent 400 million residents into lockdown is behind the latest drop in dairy prices, analysts say.
The good news is that the price weakness is expected to be temporary.
Westpac senior agri economist Nathan Penny notes that the experience in other countries is that Omicron waves eventually pass.
"Some lockdown restrictions in China are already scheduled to lift," he says.
He says the 4.4% drop in whole milk powder (WMP) prices and 4.2% in skim milk powder (SMP) prices weren't unexpected.
Immediately prior to the auction, the futures market had indicated a 4% all in WMP prices.
China is New Zealand's key dairy market and lockdowns have impacted several major cities.
Penny says, with this in mind, it's not surprising that dairy demand and auction prices have taken a hit.
However, the magnitude and breadth of the price falls indicate that China's Omicron outbreak has surpassed all other dairy market concerns.
"At this stage, however, we expect this price weakness to prove temporary," says Penny.
ASB economist Nat Keall says the recent weakness in GDT events takes a little gloss off an outstanding period for prices but is understandable.
The Commerce Commission says connectivity options for rural New Zealanders are front-of-mind as it begins a formal investigation into the future of the copper network.
Grand Finalists have been selected, all regional finals have concluded, and the journey towards the FMG Young Farmer of the Year Grand Final is underway.
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Regional councils are welcoming the certainty for councils in today’s Resource Management Act (RMA) announcement by the Government.
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Federated Farmers says changes announced to the Resource Management Act today mark the end of the war on farming.
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