Bank's desire to be part of the solution
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Economists aren't too excited about last week’s 2.2% overall lift in the Global Dairy Trade price index.
Anne Boniface, Westpac senior economist, says there was a 2.5% lift in whole milk powder prices, while butter and AMF prices also rose, partially unwinding the big falls seen in the previous auction. But the lift did not fully unwind the weaker dairy prices through November.
“Local conditions for most dairy farmers remain very favourable, and strong momentum in New Zealand milk production likely continued in November.”
Westpac is picking a $6.10/kgMS milk price for the season. “As we’ve noted previously, this forecast continues to assume we see a modest improvement in dairy prices in early 2019, with the risk of a further downward revision if this fails to eventuate in the coming months.”
ASB’s senior rural economist Nathan Penny says the rise snapped a run of seven consecutive falls.
“Nonetheless, we are suspicious. First, the rise is similar to falls in the US currency over the past fortnight. In particular, the Chinese yuan has lifted, making the USD-priced products cheaper for Chinese buyers.”
One of the country's leading experts on China has praised the NZ Government for its handling of the recent incident with China over that country's cyber attack on two of our parliamentary institutions in 2021.
The world’s largest wool processing facility, badly damaged by Cyclone Gabrielle over one year ago, has re-opened following a $50 million rebuild and refurbishment project.
Kiwi rugby star Renee Holmes is set for a fruitful year.
A new report has revealed the full impact of Cyclone Gabrielle on Hawke’s Bay’s principals and teachers.
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.