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Agsafe Weekly Rural Report

Sunday 9 June 2024, 10:59AM

By Media PA

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Finance:  The NZ dollar moved up against the US dollar.  The budget direction has been positive for the NZ economy underpinning the firming of the exchange rates.    Brent Crude dropped below $US80.00/barrel and is trending down – fuel prices are easing!!

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

Beef, Sheep & Venison schedules: there are some minor intercompany changes with minor lifts in schedules across most categories. Venison prices are steady and beef schedules are only adequate but the outlook is good. 

Dairy Prices The g/DT remained positive with an encouraging 1.7% lift.  Butter increased 1.7%, SMP lifted 3% and WMP was up 1.7% to $US3478.  Miraka has offered a positive opening price of $8.40/kg ms which includes the various production premiums.