Agsafe Weekly Report

Finance:  The NZ dollar has remained steady over the week with the world markets being dominated by the Ukrainian war. Some economists are predicting a long period of recession in NZ.  Bank interest rates are reflecting the Reserve Bank OCR!!!

Wool:  Wool prices remain in the doldrums.  Some European carpet makers are moving to 100% over the next 2 years.

Beef, Sheep & Venison schedules: The meat schedules have all eased back after Christmas but are generally steady for the coming week.  Markets remain fickle with sales struggling around the Chinese markets.  Lamb schedules are disappointing

Dairy Prices:  The g/DT on Tuesday is likely to affect the Fonterra Farm Gate price.  An easing of prices will see the projected prices being dropped by around 50 cents/kg ms.   Budgets will need to be redone at the lower projected payout. 

Grass growth rates are still very good across much of the North Island & some silage is still being harvested.  The quality is only OK.  Maize crops are variable with a lot of damage from the excess rain from November to now.  If you have turnips, they should be fed to the stock as they cannot be stored & it might then require more silage to be made.