Agsafe Weekly Rural Report

Finance:  The NZ dollar was steady to slightly easier this last week however world markets remain volatile as countries attempt to bring inflation under control.  Many international commentators are predicting a worldwide recession.

Wool:  Wool prices remain in the doldrums. 

Beef, Sheep & Venison schedules: The sheep and beef schedules have eased again while venison prices remain strong.   The lower dollar continues to underpin the schedules in the medium term.

Dairy Prices:  the g/DT took another tumble with a 3.9% drop.  WMP was down 3.4% and SMP fell 8.5%.  The lower NZ dollar is now supporting the payout range.  The Chinese markets are still very unsettled with ongoing Covid lockdowns. 

Rotation planning should be looking towards the Christmas period and the summer.  You need to look at the supplements you are able to harvest no and maintain the pasture quality for as long as you can into December.  Grasses want to flower!!!