Agsafe Weekly Rural Report

Finance:  The NZ dollar firmed against the US dollar and other major trading currencies over the week following the Reserve Bank lifting the OCR.   Brent crude is rising and is over $US85.00/barrel - fuel prices might lift again!!.

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 4.7% against the industry expectations.  The volume sold was down.  WMP fell 5.2%, SMP fell 2.5% but cheddar lifted 3.8%.  It is a poor end to what was expected to be a strong payment season and does not look good for the 2023/24 season predictions. 

The end of season is only 6-weeks away and rotations should be slowing down and the drying off planned.  There is good grass cover now, but it must be managed through to get your target cover for 1 June.  Make sure the culls are booked in and the dry-cow treatments ordered.  Watch out for nitrate poisoning on fast growing young grass.