Agsafe Weekly Rural Report

Finance:  The NZ dollar traded in a narrow band through the week ending down on the previous week.  The movements were prat of the US inflation rates that also came in higher than expected.

Wool:  We should all sign the petition to support woollen carpets in all government buildings.

Beef, Sheep & Venison schedules: Some sheep and beef meat schedules have eased again.  Lamb prices are very disappointing and remain well below the same time last year while venison schedules remain stable.

Dairy Prices:  The Chinese markets are still creating difficulties for producers with many believing the will be back in the market before the end of 2023.  The dairy farmers, like the wool growers need some good news!!.

All of the major banks have lowered their milk payout forecasts for the current season.  Drops of around $0.40 are common.  The BNZ is the lowest at $7.60/kg and RABO the highest at $8.20.  At the same time sheep farmers are prepared to give their wool away.