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Agsafe Weekly Rural Report

Saturday 9 March 2024, 11:07AM

By Media PA

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Finance:  The NZ dollar remained steady across the week finishing the week marginally above the previous week.  Brent crude prices are around $US82 with some volatility being noted as the main OPEC producers threaten volume reductions!!    

Wool:  Wool prices remain in the doldrums. There are more self-shedding sheep being breed as the cost of shearing is more than the value of the wool.

Beef, Sheep & Venison schedules: All meat schedules are steady for the coming week. Good grass conditions are allowing farmers to better manage their selling times.

Dairy Prices:  The g/DT fell 2.3% which was more than expected, but it not expected to affect the projected payout.  WMP fell 2.8% to $US3286/tn and SMP fell 5.2% after a lift of 1.3% last auction. 

The Central North Island has had a near perfect summer with some great beach weather and regular rains that have arrived at regular intervals.  Some of the maize crops look like yielding with record yields and cobs filled right to the top. 

For further insights: https://agsafe.nz