Agsafe Weekly Rural Report

Monday 9 October 2023, 8:52AM
By Media PA

Finance:  The NZ dollar fell below the 60-cent mark again at the end of the week.  A change in government should see a firming of the NZ dollar.    Brent Crude fell rapidly mid-week and is now $84/barrel down from $97/barrel a week ago.

Wool:  Wool prices are still in the doldrums.  There must be a better way.

Beef, Sheep & Venison schedules: The sheep and beef schedules are steady for the coming week with only minor intercompany changes.  Venison schedules are steady.

Dairy Prices:  the g/DT lifted 4.4% at the weeks auction.  It is the 3rd positive result in a row with SMP up 6.6% and WMP up 4.8%.  A large volume of product was sold.  I don’t think Fonterra will lift the Farm Gate Milk price yet, but it is positive!!  Tatua has paid a record $12.30 to its farmers and put in excess of $2.00/kg into reserves!!!