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ASB head of rural banking Aidan Gent is encouraging farmers to speak to their banks when they are struggling.
The 0.4% drop in dairy price index overnight in the GlobalDairyTrade auction was likely Brexit's impact on dairy prices, says ASB rural economist, Nathan Penny.
The impact is likely to be modest and temporary, he says.
"We stick with our 2016/17 milk price forecasts $6/kgMS. However, we note that any further temporary setbacks to prices or alternatively the absence of an improvement in prices over coming months will make our forecast increasingly difficult to maintain," he says in his Quickview briefing.
WMP prices were down 1.6%, while in contrast SMP prices lifted 2.6%.
"In general, the fall was consistent with our expectations that Brexit's impact on dairy prices is likely to be modest and temporary. This reaction is in line with the similarly modest agricultural market reaction to date. Moreover, the Brexit doesn't change agricultural or dairy market fundamentals, so we wouldn't expect markets to react much anyway."
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
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