Agsafe Weekly Rural Report

Finance:  The NZ dollar firmed during the week after the announcement by Fonterra of the greatly improved income and payment to farmers.   It will be a huge boost to the economy pre-Christmas.  Brent Crude has dropped and is around $US71/barrel.

Wool:  Wool prices remain in the doldrums.    There is talk about how great the product is but still nothing commercially happens.

Beef, Sheep & Venison schedules: The meat schedules are steady and there is good demand for red meats from all our trading partners but it has not yet been converted into increases in the schedules. Lamb prices are up but still too low.  Meat works are closing!

Dairy Prices.  Fonterra has announced its final for the 23/24 season at $7.83 with a dividend of 55 cents.  They have lifted the Farm Gate Price for the 2024/25 season by 50 cents with a mid-point now of $9.00/kg.ms.