Agsafe Weekly Rural Report

Finance:  The NZ dollar was steady over the week against the US dollar but firmed against the Australian dollar.  Brent Crude has remained below $90 per barrel.  Petrol prices have eased!!

Wool:  Wool prices remain in the doldrums but some people are positive it can change.  The European carpet makers are showing renewed interest in NZ wools and with the interest in ridding the world of “fossil-fuels” it should be simple!!.

Beef, Sheep & Venison schedules: The sheep and beef schedules continue to ease as international demand remains fickle.  Check with your agent as there are some major intercompany variations.   Most works have all their pre-Christmas space booked already.

Dairy Prices:  The g/DT eased by 0.7% at the latest auction with WMP falling below $US3,000/tn.  SMP & Cheddar prices firmed.  The contracts were for December 2023 to April 2024 with 34,514 tonne sold.