Commodity prices set new record. Commodity prices hit new a record high in October, according to ANZ World Commodity Price Index. The World Price Index lifted 2.1% in October compared to September. Dairy prices jumped 3.7%, mainly on the back of tight global milk supply with demand steady. Meat and fibre prices were up 1.6%, […]
economics
Economic Week – October 29
Fonterra milk price good news for farmers and for New Zealand. With the 2021/22 season well underway, Fonterra has increased and narrowed its forecast farmgate milk price to $7.90-$8.90 per kgMS, up from its previous forecast $7.25. The mid-point is up from $8.00 to $8.40. Fonterra observed that the $8.40 would equal the highest farmgate […]
Economic Week – October 22
Inflation shocker, thief on the loose. This week saw the release of inflation data for the September quarter and it was a shocker. Inflation is an insidious ‘thief in your wallet’, to quote a former Reserve Bank Deputy Governor, eroding purchasing power and savings and distorting decisions on spending and investment. The thief is becoming […]
Economic Week – October 8
OCR increased. After holding off in August, the Reserve Bank did what it had been widely expected to do, this week lifting the Official Cash Rate from 0.25% to 0.50%. This was the first OCR increase in more than seven years. The Reserve Bank had to strike a balance between the economic hit caused by […]
Solid fundamentals and strong demand support positive outlook for 2021-22 season
The forecast for global sheepmeat and beef demand is positive for the 2021‑22 season supported by solid market fundamentals, strong demand and tight supply, according to Beef + Lamb New Zealand’s (B+LNZ) New Season Outlook 2021-22. Click here to read a summary report.Read the full New Season Outlook 2021-22 here. “The Outlook is positive. Fundamentals […]
The seasonality of spring
The official start of spring is different to different people…. we sure did talk/argue about it up one wall and down the other. Some go for the first – others firmly in the 21 st of September camp. One rule we could agree on was that we have three months of each – with a […]
Economic Week – September 10
Commodity prices slip. The ANZ Commodity Price Index was down again in August but it’s still well ahead of the same time last year and remains near its record high set in June. The World Price Index was down 1.6% in August compared to July, following a 1.7% decline over the previous month. The Index […]
Suppliers need a fairer deal
With the Commerce Commission’s market study into the retail grocery sector drawing to its conclusion, Federated Farmers is calling for a fairer deal for suppliers. As a representative of food producers (and consumers), Federated Farmers is keen to ensure that the retail grocery sector is competitive. It’s concerning but perhaps not surprising that the Commission […]
Feds backs the butcher, the baker, and the greengrocer – again
Federated Farmers says the government needs to reconsider and let small business fresh food sellers stay open under level 4. Last year Federated Farmers national president Andrew Hoggard was vocal about Feds’ position. “We pleaded for common sense to prevail, we have had over one year to sort this out – yet it is not.” New […]
Water Services Bill – Bad news
Bad news… Feds and small water suppliers have been ignored in the submission process, while my community spent time together this week at the community hall which will be affected they are unwittingly captured by the Water Services Bill. The Bill is unworkable at the small-scale. Regardless of the effectiveness of ‘acceptable solutions’ for small […]