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ASB head of rural banking Aidan Gent is encouraging farmers to speak to their banks when they are struggling.
AFTER A 6% drop in the GDT this week, the ASB says the risks are increasingly of a payout on the downside of $5.80/kgMS.
Rural economist Nathan Penny said he was surprised that Fonterra maintained its milk price forecast at $6/kgMS last week.
Penny says all the seven main products that ASB monitors posted falls. Overall prices now stand 42.2% lower than a year ago
SMP, BMP and casein posted the biggest falls, dropping 9.5%, 12.9% and 14.3% respectively. Meanwhile, WMP fell 4.3% and the other products recorded falls in the 5% to 6% range.
Russian import ban may be putting more downward price pressure on products with strong European supply (e.g. SMP) relative to NZ-dominated products (WMP), he says.
Higher prices for later-dated contracts still hint at support for prices later in the season, but at the expense of short-term weakness.
OPINION: In recent years farmers have been crying foul of unworkable and expensive regulations.
Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
Making things simpler, not harder, for deer farmers in farm planning and coping with regulations is Deer Industry New Zealand (DINZ) industry capability manager John Ladley’s current focus.
Rural Women New Zealand (RWNZ) is launching an online business directory called The Country Women’s Collective to promote and support entrepreneurial rural women.
New Zealand actor Sam Neill has joined the Campaign for Wool NZ as an ambassador, lending his name and profile to educate and advocate for New Zealand strong wool.
OPINION: The new government has clearly signalled big cuts across the public service.
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