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.
The gap is closing between 2019 season and 2018 season prices, says ASB senior rural economist Nathan Penny.
In his weekly commodities report, Penny noted that the last 18 months or so have been stellar for lamb prices.
But lamb prices, so far over 2019, are hinting that they are running out of steam, he says.
Lamb prices opened 2019 at $7.20/kg, some 45c/kg lower than where they ended 2018. From the peak price of $8.43/kg back in September, the per kg price has now fallen $1.23/kg (or around 15%).
“This fall is a little more than we expected at this stage,” says Penny.
“The average fall over the past five years from the spring peak to autumn low is around $1.20kg. In other words, the fall to date has already exceeded the average fall with another two or so months before prices usually bottom out.
“Still at $7.20/kg, lamb prices remain healthy. Nonetheless, the steepness of the recent fall warrants a wary eye on lamb prices over the next month or two. In particular, we will be monitoring closely how Chinese lamb demand develops given the broader slowing in the Chinese economy.”
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
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.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.