Agsafe Weekly Rural Report

Finance:  The NZ dollar was steady against the US dollar and other major trading currencies over the week.  Credit Suisse, being a major international bank failed following the failure of the big US bank the previous week.  Brent crude is down to $75/barrel but fuel prices remain high.

Wool:  A recent reports has again suggested that the prices might improve when they move back to wool carpets!!     

Beef, Sheep & Venison schedules: All meat schedules are steady with only minor intercompany changes for the coming week   

Dairy Prices  The g/DT fell 2.6% at Tuesday nights auction.  Cheddar was down 10.2% while WMP fell 1.5%.  The fall in prices was not expected as international marketers are still “bullish” around the Chinese markets which seem to be slower than expected to come back after the covid lockdown.