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Budget closes livestock loophole

An extra $410 million is to be squeezed from bach and boat owners, and farmers, among others, over the next four years under Budget measures tightening tax rules.

Export values drop

Compared with April 2011, exports of goods fell $799 million (17 percent) in April 2012, to $3.9 billion, Statistics New Zealand said today.

Feds welcome Affco settlement

Federated Farmers welcomes the settlement, subject to worker ratification, that will see AFFCO back in full production.

Demand strong for weaner heifers at Wellsford

A tidy 400 head of cattle were offered at Wellsford today, of which weaner and R1yr cattle filled the most pens. Though the buying bench was mainly local, the arrival of one buyer from Tuakau helped move proceedings along in the weaner pens

VIC cows make good money in the North Island

The North Island store cattle market has come off the boil in general, apart from in calf cows and heifers. Good traditional in calf cows in the paddock are around $1000-1100/hd. R3yr heifers are $1100-1200/hd. With pregnancy rates high this season, more older in calf cows have hit the market. Prices have generally been $700-800/hd. At Stortford and the Feilding in calf heifer and cow fair, prices were fairly similar.

South Island store cattle market in limbo

The store cattle market the south island has been relatively quiet this week. There have been one or two private sales of weaner calves but even this market is slowing down.

Weaker NZ dollar boosting beef returns

While US imported beef prices have softened in recent weeks, the weaker NZ dollar has more than made up for this.

Cheaper US beef imported prices ups buyer activity

US end users of beef remain reluctant to buy too far forward and instead continue to play the spot market.

NZPork lodges appeal

NZPork has filed papers appealing against a High Court judgment which it says would have opened the way for new import health standards, and exposed New Zealand's pigs to the Porcine Reproductive and Respiratory Syndrome (PRRS) virus.

Fonterra lowers forecast

Fonterra has dropped its forecast farmgate milk price by 30c for the current season to $6.05 and is forecasting a $5.95-$6.05 payout range for the 2012/13 season.