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Agsafe Weekly Rural Report

Sunday 12 May 2024, 9:20PM

By Media PA

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Finance:  The NZ dollar firmed over the week finishing up on last week. The government several announcements seem to be instilling a little confidence back into businesses.    Brent Crude is trading around $US84/barrel!!

Wool:  Wool prices remain in the doldrums. There is some optimism as the Napier wool processors reopens!! People are trying!!!

Beef, Sheep & Venison schedules: All meat schedules are steady for the coming week with some minor intercompany changes. Lamb prices are very disappointing.   There is apparently no pressure on getting cull cows off to slaughter!!

Dairy Prices:  The g/DT was positive lifting 1.8%.  WMP was up 2.4% to $US3350/tn & SMP up 0.4%.  Cheddar lifted 8%.  Rabobank has predicted an opening payout for the 2024/2025 season of $8.40/kg ms – a positive suggestion for the coming season.