Agsafe Weekly Rural Report

Finance:  The NZ dollar dipped below the 59-cent mark during the week.   Brent Crude is over $US90/barrel and that’s what unpins the rises in petrol/diesel prices. Fuel costs will continue to rise as Brent Crude price increase.  The carbon prices have tanked again!!

Wool:  Some farmers are even prepared to give their wool away.  There must be a better way!!!.

Beef, Sheep & Venison schedules: Beef schedules are mostly unchanged for the coming week with only minor intercompany movements.  As the NZ dollar drops the meat schedules should increase in NZ dollar terms. 

Dairy Prices:  The g/DT auction saw prices lift after the massive drop at the previous auction.   WMP was up 5.3%, but is still very low.  The auction sold 37,729 tonne being a large volume sale.  The contracts were for sales through to February 2024.

The replacement calves being reared now will become herd cows in July/August 2025. Make sure they get the best opportunities to maximise their growth potential – well grown replacements become profitable cows.  A regular drenching program is essential and quality feed must be offered at all times.  Farming is a long-term activity.