Agsafe Weekly Report

Finance:  The NZ dollar was steady against the main trading currencies.  Western world inflation rates are very high and NZ is sitting below the very highs but above Australia.   Further increases will occur as inflation is still increasing.

Wool:  Wool prices remain in the doldrums.

Beef, Sheep & Venison schedules: The meat schedules are mostly steady for the coming week with some minor intercompany adjustments.  World food shortages are becoming evident.

Dairy Prices:  The g/DT fell 5% at last week’s auction.  There was a larger offering with the sales for the mid-season production of August through to December.  SMP prices are again below WMP prices.  The industry is still expecting a strong payout for the season.