Agsafe Weekly Rural Report

Finance:  The US dollar is steady at the new lower level having weakened the NZ dollar after the US elections.  Brent Crude is around $71/barrel ranging from $70 to $75.

Wool:  Wool prices remain in the doldrums.    Small cottage industries will not save the wool industry.

Beef, Sheep & Venison schedules: The meat schedules are continuing to trend upwards with good demand from the major buyers.  The Chinese markets are also firming as their economy recovers.  Lamb prices need to lift and should be nearer $9/kg

Dairy Prices.  The g/DT lifted 1.9% underpinning the recent lifts in payout forecasts.  SMP was up 0.9% and WMP lifted 3.2% to $US3826/tonne.  Some pundits had predicted a bigger lift.  Westpac has lifted its forecast estimate to $10/kg ms