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.
AFTER A 6% drop in the GDT this week, the ASB says the risks are increasingly of a payout on the downside of $5.80/kgMS.
Rural economist Nathan Penny said he was surprised that Fonterra maintained its milk price forecast at $6/kgMS last week.
Penny says all the seven main products that ASB monitors posted falls. Overall prices now stand 42.2% lower than a year ago
SMP, BMP and casein posted the biggest falls, dropping 9.5%, 12.9% and 14.3% respectively. Meanwhile, WMP fell 4.3% and the other products recorded falls in the 5% to 6% range.
Russian import ban may be putting more downward price pressure on products with strong European supply (e.g. SMP) relative to NZ-dominated products (WMP), he says.
Higher prices for later-dated contracts still hint at support for prices later in the season, but at the expense of short-term weakness.
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.