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.
Lamb prices have moved from a boil to a simmer, according to ASB Commodities Weekly report.
It says prices peaked in mid-September at a little above $8.40/kg. Since then, prices have dropped by 48 cents/kg or 5.7%.
ASB senior rural economist Nathan Penny says while posting recent declines, prices remain at record highs for this time of the year.
“Moreover, the average price over the last four weeks was 29% higher than the five-year average over the same period.”
Looking over the rest of the season, prices look set to remain at healthy levels. Lamb supply is constrained both over in the Tasman and locally.
“Indeed, Beef+Lamb NZ estimates that this season’s lamb crop will be nearly one million smaller than last season’s,” says Penny.
Meanwhile, global demand remains firm. Chinese and US demand is solid, with prices for the 2017/18 export season finishing 18% and 21% up on 2016/17, respectively.
“While we expect prices to moderate in line with the usual seasonal pattern, the 2018/19 season is shaping up as a healthy one overall for farmers,” Penny says.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Two major red meat sector projects are getting up to a combined $1.7 million in funding from the New Zealand Meat Board (NZMB).
Angus Barr and Tara Dwyer of The Wandle, Lone Star Farms in Strath Taieri have been named the Regional Supreme Winners at the Otago Ballance Farm Environment Awards in Dunedin.
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