Agsafe Weekly Rural Report

Finance:  The NZ dollar was steady over the week against the US dollar.  Brent Crude has dropped significantly to $US77/barrel.  Petrol prices should be easing for Christmas!!

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 are mostly steady but the lower prices are impacting on the Sheep & Beef farmers .  Check with your agent as there are some major intercompany variations and premiums available.   Most works have all their pre-Christmas space booked already.

Dairy Prices:  Dairy prices are steady to firmer with the Pulse Auction reflecting some improvement in prices.  The next g/DT is on 21st November and an increase is expected.

Maintaining the fertility on the farm is important and fertiliser applications are often the first to be chopped when finances are tight.  You can be more strategic with your applications around high & low fertility areas.  Failing to apply fertilisers can have long term negative effects on both productivity and production.