ASB launches new loan to help NZ farmers switch to solar power
As electricity prices soar, farmers appear to be looking for alternative energy sources.
There's a chance that the lamb price could hit $9/kg next month.
That’s the view of ASB’s senior rural economist Nathan Penny, who says he’s running out of superlatives to describe the performance of lamb prices.
Data shows the lamb price constantly rising and passing $8/kg, he says, and there is speculation that it could reach the magical $9 number in October.
Penny doesn’t get too carried away about the future for lamb, except to say that whichever way you cut it, prices are strong -- good news after a long lean period compared with other sectors. “The reason for the high prices is strong demand from a number of fronts. We had expected that post-Brexit the UK would weaken substantially, dragging down overall lamb returns, but that hasn’t been the case,” he told Rural News.
“Other markets have stepped up – the US and Europe; those two markets have been strong, so has China.”
Penny says those markets have picked up the UK’s slack, but the UK hasn’t been as bad as he thought it would be. “There’s been pretty good growth globally. Economies have been strong and that has flowed into incomes and demand for lamb. So all up it’s a really good story for lamb and it’s been a while between drinks for lamb producers so the price rise is welcome.”
Penny says there’s a risk that rising lamb prices could make it too expensive for consumers, who would switch to less expensive proteins. But so far the consumers have accepted the lamb prices. After a predicted spike of prices in October, the ASB foresees easing as the season progresses.
Penny thinks the US/China trade wars are playing out a bit more than was first thought, and drought in Australia could see more lamb coming on the international market as farmers seek to cut their losses.
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
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