RWNZ chief executive to step down
Rural Women New Zealand (RWNZ) chief executive Gabrielle O’Brien will step down at the end of June.
The Omicron outbreak in China that sent 400 million residents into lockdown is behind the latest drop in dairy prices, analysts say.
The good news is that the price weakness is expected to be temporary.
Westpac senior agri economist Nathan Penny notes that the experience in other countries is that Omicron waves eventually pass.
"Some lockdown restrictions in China are already scheduled to lift," he says.
He says the 4.4% drop in whole milk powder (WMP) prices and 4.2% in skim milk powder (SMP) prices weren't unexpected.
Immediately prior to the auction, the futures market had indicated a 4% all in WMP prices.
China is New Zealand's key dairy market and lockdowns have impacted several major cities.
Penny says, with this in mind, it's not surprising that dairy demand and auction prices have taken a hit.
However, the magnitude and breadth of the price falls indicate that China's Omicron outbreak has surpassed all other dairy market concerns.
"At this stage, however, we expect this price weakness to prove temporary," says Penny.
ASB economist Nat Keall says the recent weakness in GDT events takes a little gloss off an outstanding period for prices but is understandable.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.
Rural trader PGG Wrightson has revised its operating earnings guidance, saying trading conditions have deteriorated since the last market update in February.
It's been a bumper season for maize and other supplements in the eastern Bay of Plenty.
Leading farmers from around New Zealand connected to share environmental stories and inspiration and build relationships at the Dairy Environment Leaders (DEL) national forum in Wellington last month.