Why?
OPINION: A mate of yours truly wants to know why the beef schedule differential is now more than 45-50 cents a kilo between North and South Island producers – if you look at February 2024 steer prices.
Westpac economists are forecasting global dairy and beef prices to rise on the back of drought in the US and elsewhere.
"After a bumper 2012 worldwide production season, the curse of drought has hit several major grain-producing areas, particularly the US," says Westpac senior economist Felix Delbruck. "This has pushed up feed costs for Northern Hemisphere cattle farmers and is likely to boost global dairy and beef prices."
Delbruck notes that world dairy prices have already risen from recent lows, with Global Dairy Trade auction prices up about 20% since late July. The impact on beef prices is likely to take longer as farmers off-load stock.
However, immediate gains to local farmers may be limited. "As is often the case, the dollar has followed dairy prices higher, tempering the gains at the farm gate," says Delbruck. Westpac continues to forecast a dairy payout of $5.70 for the 2012/13 season.
"In the 2013/14 season and beyond, prospects are firmer," says Delbruck. "With a recovery in global growth and ongoing income growth in emerging markets, particularly China, we expect increased demand to underpin prices."
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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