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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."
New data released by LIC and DairyNZ shows New Zealand dairy farmers have achieved the highest six week in-calf rate and lowest notin- calf rate on record.
Christchurch City Council and the Canterbury Agricultural and Pastoral Association (CAPA) have signed an agreement which will open more of Canterbury Agricultural Park for public use while helping to provide long-term certainty for the A&P Show.
This year’s Fieldays will feature a Rural Advocacy Hub - bringing together various rural organisations who are advocating for farmers and championing their interests as one team, under one roof, for the first time.
ASB head of rural banking Aidan Gent is encouraging farmers to speak to their banks when they are struggling.
Hunters around the country are hoping for some foul weather this weekend with the game bird season getting underway.
Farmers have been airing their concerns to the Government over changes to the Accredited Employer Work Visa scheme.