Bank satisfaction continues to wane. Last Friday, Federated Farmers released the results from its May 2021 Banking Survey. It showed a further slippage in farmer satisfaction in banking relationships, a trend evident since late 2017. Our media release is here and the full report can be found here. The key results were: 62% of farmers […]
economics
Economic Week – June 4
Record high for commodity prices. The ANZ Commodity Price Index has had another positive month, with the World Price Index up 1.3% for the month of May and up 24.4% for the year. The Index has risen for eight consecutive months and it has been pushed to a new record high (at least since the […]
Economic Week – May 21
Budget 2021. The big economic news for the week was, of course, the Budget. For my account of Budget 2021 and what it means for farming click here. For the rest of the week’s economic news read on… Dairy prices slip again. This week’s Global Dairy Trade auction was its third consecutive fall, albeit just […]
Farmers bankroll Budget’s big spending
Federated Farmers wants New Zealand’s farmers to pat themselves on the back for making it possible for the country to afford the Budget announced by the Government today. In his speech to present the Budget Minister of Finance Grant Robertson acknowledged the financial carnage predicted by the Government last year did not eventuate. “And that’s […]
‘Big four’ banks casting a dangerous shadow in regional Australia
Article written by Dale Webster Casterton, Drouin, Grenfell, Home Hill, Nathalia, Toukley, Brunswick Heads, Wingham and, soon to be joining their ranks, Rochester and The Entrance. Ten Australian towns set apart by one dubious achievement shared by no others: they have all lost a full hand of the “big four” banks — ANZ, Commonwealth, […]
Fonterra lifts farmgate price, food prices down
by Nick Clark, Federated Farmers Manager General Policy Fonterra lifts payout forecast Fonterra has lifted its farmgate milk price forecast for the current 2020/21 season to a range of $7.30-$7.90 per kgMS with a midpoint of $7.60. This is up from its previous range of $6.90-$7.50 and midpoint of $7.20. Fonterra said its milk price […]
GDT surges, commodities up, exports down
by Nick Clark, Federated Farmers Manager General Policy GDT surges Dairy prices leapt at this week’s Global Dairy Trade auction, up a whopping 15.0% at this week’s auction. Whole milk powder, by far the biggest commodity by volume, led the way in jumping 21.0% compared to a fortnight ago. Almost all the other commodities also […]
Economic Week – February 19
by Nick Clark, Federated Farmers Manager General Policy Seven in a row Continued strong demand from China saw dairy prices increase again in this week’s Global Dairy Trade auction. The GDT Price Index was up 3.0% compared to the previous auction a fortnight ago. All six commodities on offer increased in price, led by whole […]
Economic Week – February 12
by Nick Clark, Manager General Policy, Federated Farmers of NZ Budget 2021 The Government this week released Budget Policy Statement 2021 for the upcoming Budget. Last year’s Budget was focused mainly on the immediate need to keep New Zealand safe from COVID-19 and combatting the economic fallout. While continuing this work, Budget 2021 will move […]
Economic Week – February 5
A round-up of the week’s economic news by Nick Clark, Federated Farmers Manager General Policy Farmer confidence bounces back The results are out from Federated Farmers’ latest six-monthly Farm Confidence Survey. The survey showed a strong recovery in farmer confidence, albeit off a low base, returning it to levels of a year ago. Key points […]