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ASB head of rural banking Aidan Gent is encouraging farmers to speak to their banks when they are struggling.
While the lowest lamb crop in 60 years should support prices, the market is being swamped by other factors at present, says the ASB in its weekly commodities report.
These other factors include strong UK supply and weak Chinese demand, the report says.
In the UK, the high pound is making British lamb expensive in Europe and thus more UK lamb staying put in its domestic market. At the same time, a push to buy local from supermarket chains is hurting prices of NZ imports, the ASB says.
On net, the ASB expects prices to stay under par for the rest of this season.A pick-up in demand next season is expected to lift prices to a more healthy level.
Beef and Lamb NZ's 2015 lamb crop report showed that the crop is the smallest in nearly 60 years. The number of lambs tailed this spring was down 6.7% or 1.73 million on the previous spring to 23.9 million head.
The drought led to fewer breeding ewes as well as a lower number of lambs per ewe.
All up, the smaller lamb crop should help support prices, however at the moment the lower NZ supply is being swamped by those other factors, the ASB says.
James and Debbie Stewart from Dairylands in Manawatu impressed judges and took out the 2024 Fonterra Responsible Dairying Award.
Manawatu farmers Will Hinton and Kali Rangiawha have scooped the 2024 New Zealand Share Farmers of the Year.
More bull breeders are using genetic tools according to the latest research.
Females are dominating the veterinary profession worldwide and many farmers are welcoming this change in the composition of the profession, says Britain's Chief Veterinary Officer (CVO) Professor Christine Middlemiss.
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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