Agsafe Weekly Report

Finance:  The NZ dollar is steady but eased very slightly against the US dollar and the Euro.  Brent Crude oil remains under $US80/barrel.   The government is bringing back the fuel tax early in the new year. 

Wool:  Wool prices remain in the doldrums.  No one has come up with a real alternative long-term use for wool yet!!

Beef, Sheep & Venison schedules: The beef schedules are steady to easier.  The lamb schedules have dropped over recent weeks with further falls expected.  Venison prices remain strong.

Dairy Prices:  The g/DT fell 3.8% at the last auction.  There was good volume sold.  WMP fell 4% to $US3246/tn and SMP fell 4.8% to $US2965/tn.  The drop has knocked the confidence of the farmers and Fonterra are expressing some caution without panic! 

There have been some massive downpours of rain across the country during the week.  One area North-East of Hamilton had nearly 120 mm rain in 3 hours.  There is more flooding of maize and other crop paddocks together with silage crops that have not been able to have been harvested.  There will be a shortage of conserved feed for the winter of 2023

For further informatio go to www.agsafe.co.nz