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Agsafe Weekly Rural Report

Saturday 25 May 2024, 11:12AM

By Media PA

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Finance:  The NZ dollar remained steady during the week and moved up slightly against the Australian dollar.  The budget this coming week is likely to create some firming of the NZ dollar.    Brent Crude is trading around $US82.00/barrel!!

Wool:  Wool prices remain in the doldrums.  People are trying and are trying to talk the industry up!!!

Beef, Sheep & Venison schedules: All meat schedules are steady for the coming week with some minor intercompany changes. There is a movement of farmers away from sheep and into beef as the sheep meat and wool prices struggle.  

Dairy Prices:  The g/DT lifted 3.3% with WMP up 2.9% to $US3408.  SMP lifted 3.5% and mozzarella was up 9.8%.  The lift exceeded expectation and should support a strong opening Farm Gate Milk Price for the 2024/2025 season.