Friday, July 1, 2022

My Daily Digest: December 2, 2020

Positive GDT keeps hope alive The GDT index rose after this morning’s auction led by a 5% lift in whole milk powder. That’s a really good sign as we wait for Fonterra’s quarterly update on Friday. It might bring a surprise Christmas present to dairy farmers.

But there are still headwinds across the industry. Figures released this week show the value of red meat exports took a dive in the past year. That value loss has been felt by farmers through the schedule, which is down on last year but still hovering around the five-year average.

Of course, the dollar is also not playing ball. It’s buying US71c and looks likely to go higher, which will make our food a less attractive option.

But, last night’s GDT shows that there’s still demand, which is something to hold onto in these trying economic times.

 

Bryan Gibson

 

NZ export purchasing power tumbles

The international purchasing power of New Zealand’s export industries fell the most in a decade as milk prices soured and the Kiwi dollar pushed higher.

 

O’Connor tackles new trade role

Signing the world’s largest trade agreement barely a fortnight into the job wasn’t too shabby a start for Damien O’Connor as new Trade Minister.

 

Gas scheme on trees challenged

A scheme to enable airlines to offset carbon emissions has been challenged for its veracity by a leading New Zealand forestry researcher.

 

Food network to help families in need

A network to ensure surplus food goes into needy bellies rather than landfills has started filling orders in Auckland.

 

Survey shows farmers care about the environment

A survey of Southland farmers shows a big jump in those with farm environment plans.

 

Tonight on Sarah’s Country

7:10pm –  Why does irrigation still have a negative connotation? IrrigationNZ chair Keri Johnston explains how they will change that conversation.

7:20pm – Canterbury M bovis cases are not an outbreak, the Ministry of Primary Industries says. M bovis programme director Stuart Anderson explains why.

7:30pm – The Reserve Bank is continuing to keep a close eye on heavily indebted dairy farms. NZAB’s Scott Wishart gives his advice moving forward. 

7:40pm – Surfing for Farmers founder Stephen Thomson shares why surfing has taken off with farmers needing a break. 

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