US ICONIC company McDonald’s may have dumped lambburgers – but a thriving New Zealand fast-food company plans to take on the land of beef and burgers on its home ground.

The drought cost $1.3billion to June 30, the Ministry for Primary Industries (MPI) says, in its Situation and Outlook report.

Westpac and Meridian Energy are giving farmers easier access to solar energy, with potential savings on power bills in the thousands each year.

DAIRY GIANT Fonterra is responsible for most of New Zealand’s dairy exports and accounts for approximately one-third of global trade.

The merchandise terms of trade rose 4.1% in the March 2013 quarter, due to export prices rising and import prices falling, Statistics New Zealand says.

Competition for cattle has resulted in more upward pressure on cattle prices over the last two weeks.

There has been a decent lift in export lamb prices on the spot market as procurement competition lifts up a notch. Some companies lifted prices by 15c/kg this during last week. 

Half of New Zealand's sheep and beef farmers are worried about their on-going viability, the latest quarterly 'Rabobank Rural Confidence Survey' has shown.

“You can see exactly what’s going to happen,” Beef + Lamb New Zealand chairman Mike Petersen told Rural News. “There’s going to be low and slow supply from both the EU and New Zealand which is going to make it incredibly hard to fill Christmas orders.”

Federated Farmers adverse effects spokeswoman Katie Milne says she is amazed that Westpac economists believe the drought may have no effect on the economy because of rising dairy prices.