NEWS

Agsafe Weekly News

Wednesday 22 June 2022, 9:45AM
By Media PA
436 views


Finance:  The NZ dollar eased against the US dollar during the week but lifted again towards the end of the week as inflation figures start to really bite around the world.  The USA Federal Reserve lifted its OCR equivalent by 75 points mid-week.  The world markets remain unsettled with the high inflation in most western countries.

Wool:  Wool prices remain in the doldrums. Perhaps the industry needs to look closer at other users of wool in other countries!!

Beef, Sheep & Venison schedules: The meat schedules are mostly steady with only minor intercompany changes.  Killing space is becoming available and the ports in China are working again.  Lamb and mutton have both increased.

Dairy Prices:  The demand for dairy commodities is very strong going into the new season with futures markets predicting payments of $10/kg ms   

The wetter winter weather can lead to pugging and pugging will reduce the pasture regrowth rates, allow silt to be washed into waterways and it also attracts the greenies who are keen to remove all livestock from the face of the earth.  Well fed animals will be content and are less likely to pug a paddock area.