Agsafe Rural Report

Finance:  The NZ dollar was steady over the week against the major trading currencies.  Brent crude dropped again to below $US80. Carbon prices have eased again!!!!   Hipkins has stated that there will be no new taxes proposed in this years budget!!

Wool:  Wool remains in the doldrums with no exciting developments on the horizon.     

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 sale yards boner prices as there was an increase in the empty rates across the region.

Dairy Prices:  Open Country Dairies has offered a lower payout for the current production period and Synlait is having trouble with its A2 milk partner.  Fonterra’s drop in forecast is seasons final estimate.   Dairying is still a good business and the long-term view must be considered when making business decisions.  International prices are steady.