Free workshops to bolster farmer financial skills
Free workshops are being offered around the country to help farmers take more ownership of their farm business finances.
Dairy prices softened slightly again at last week’s Global Dairy Trade Event but results were again mixed, says Rabobank dairy analyst Emma Higgins.
Before the auction the prices had been expected to fall.
The average sale-price index was down by 1.2% (to an average sale price of US$3481/tonne) and follows a fall at the previous event.
The whole milk powder (WMP) index was down 1%, average price US$3189/t, while the butter index was up 0.8%, average price US$5611/t.
“Fonterra had lifted its offer volumes of skim milk powder (SMP) ahead of this event with an extra 200t on offer, and volumes increased over the next 12 months by 6000t.
“Both SMP and WMP prices eased slightly. Butter prices held steady but Oceania prices continue to trade at a discount to European wholesale prices, meanwhile cheddar prices saw the largest declines -- falling 3.6%.
“This is a quiet period with New Zealand milk production largely on hold until August, so another muted auction event is not unusual for this time of year.”
NZ milk production numbers for May 2018 were released last week.
The data confirmed a strong finish to the season with 6.2% growth year-on-year in volume (up 5.7% in May on a milk solids basis) versus the prior year.
“This brings the 2017-18 season into line with the prior year: production is up 0.1% [in tonnes, but on a milk solids basis full-season production is down 0.6%],” says Higgins.
ASB’s senior rural economist Nathan Penny says they suspect the price weakness was driven by a late season rally in production and a stronger US dollar. The US dollar index lifted about 1% since the last auction, making dairy more expensive in most buyers’ local currency terms.
ASB is maintaining its 2018-19 milk price forecast at $6.50/kgMS.
Federated Farmers president Wayne Langford is claiming “some real success” on the 12 policy priorities it placed before the Coalition Government.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.