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.
Milk production is continuing to boom.
According to ASB Commodities Weekly report, last month milk solid production was up a whopping 7.7% on January 2018.
This was the largest increase since June 2018; season to date production is now running 5.6% ahead of 2017-18.
ASB senior rural economist Nathan Penny says this season is already on track to shatter records.
“Though we anticipate the hot weather might start to weigh on February production. As January drew to a close, the country entered a heatwave and record temperatures were recorded across several parts of New Zealand.
“Whilst drought is a perennial concern in summer, this year it's the heat itself that has drawn notice.”
Penny notes that elevated temperatures are impacting the behaviour of livestock, with some cows even “too hot to eat.”
Given that temperatures only peaked towards the end of the month, January’s production data will not have captured the full impact, he notes.
‘We will be closely watching February’s figures (due mid-March), to see if production starts to soften. We currently project 5% growth in milk solids production across the 2018/19 season, a shade more bullish than other forecasters.”
ASB’s 2018-19 milk price forecast stands at $6.25/kgMS; it is forecasting an opening price of $7/kgMS next season.
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
World Veterinary Day falls on Saturday 27 April.
The Director General of MPI, Ray Smith says it's important for his department to celebrate the success of a whole range of groups and people around the country.
A small company which mobilised veterinarians around the country to deal with Mycoplasma bovis was one of the winners in this year's Biosecurity Awards, held at Parliament.
One of the country's top Māori sheep and beef farms is facing a five-year battle to get back to where it was before Cyclone Gabrielle struck just over 14 months ago.
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