Agsafe Weekly Rural Report

Finance:  The NZ dollar remained steady over the week.  The Reserve Bank lowered the OCR by 50 base points, so interest rates should start coming down.    Brent Crude rose to $79/barrel as a result of the USA hurricanes.

Wool:  Wool prices remain in the doldrums.    Nothing to comment on.

Beef, Sheep & Venison schedules: The meat schedules are steady and there is good demand for most red meats from all our trading partners.  Lamb prices are up but still too low as they need to be around $9.00.

Dairy Prices.  The expected returns for the 2024/25 season are satisfactory with most companies suggesting a $9.00 payout is likely.  The interim payments are having a positive effect on the cash flow.