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Agsafe Weekly Rural Report

Monday 29 January 2024, 8:17AM

By Media PA

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Finance:  The NZ dollar remained steady through the week finishing at a similar level to the previous week.    Brent Crude has lifted and is now above $US80/barrel so expect some increases in fuel costs/. 

Wool:  Wool prices remain in the doldrums but some people are still positive it can change. There are recent reports that USA processes are interested in the coarse wools from NZ  -  lets hope it has some legs!!

Beef, Sheep & Venison schedules: The venison, sheep and beef schedules are mostly steady across the country. The lower lamb prices are being pushed lower by the Australian supply of meat onto the international market.

Dairy Prices:  Milk commodity prices are firm with increased demand underpinning the current prices. The next g/DT is scheduled for the 6th February and it is anticipated that there will be a slight lift.

Pasture covers are generally very good across the country and stock are being well fed.  There is still a long way to go before summer ends and a late summer or autumn drought can still occur.  Have a drought management plan ready.