Agsafe Rural Weekly Report

Finance:  The NZ dollar eased against the US dollar and other major trading currencies.  There is a need for more stability in the economic management and there is little faith in the Labour government being able to manage our way out of the mess. The annual inflation was down to 6.7% from the previous high of 7.2%.  The high OCR are hitting businesses hard.

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. There is some downward pressure on the manufacturing cow prices as the dairy season comes to an end.

Dairy Prices:  The g/DT lifted 3.2% at last weeks auction – welcome relief from recent falls.  Butter up 4.9%, Cheese up 5.7%, SMP up 7% and WMP increased 1%.  A good volume was offered.