Agsafe Weekly Report

Finance:  The NZ dollar is steady against the main trading currencies. Brent Crude (oil standard) has been trading at $US100 and below $US100/barrel for 3-weeks which is good news and is an indicator that world markets are steadying.

Wool:  Wool prices remain in the doldrums. 

Beef, Sheep & Venison schedules: There are minor intercompany changes for the coming week.  Venison schedules are strong and AFFCO has offered contracts for lamb at $10/kg which is good news for the up-coming lamb market.

Dairy Prices:  Fonterra has revised its milk price for the season dropping 25 cents.  Range is now $8.50 to $10.00 with the mid-point of $9.25.   They have maintained the advance rate at $5.70 for the season which is good as budgeted income verses increased expenses have to be balanced.