## NZ 3rd in medal table

02/08/2012

Those worried that New Zealand has only two medals, and  bronzes at that, can relax.

Statistics New Zealand has come up with a new way of calculating Olympic success:

Who has the highest medal strike rate in 2012?

We are crunching the numbers during the London 2012 Olympic Games to show how many medals countries are winning relative to their population.

This differs from the traditional medal table, which ranks countries on the basis of how many gold, silver, and bronze medals they have won.

For example, at the end of day 5, Qatar had one bronze medal, putting them 39th equal on the traditional medal table, and New Zealand, with two bronze medals, was 37th equal. However, if we rank countries on the basis of medals per million people, Qatar (1.76 million people) came 1st, and New Zealand (approximately 4.4 million people) came 3rd.

Using the traditional overall medal count, China was the day 5 leader, with 17 gold, nine silver, and four bronze medals. On our medal count, China was 42nd, because its population is 1.3 billion.

Stats NZ will be updating its chart every workign day of the games.

## Word of the day

02/08/2012

Dyscalculia – inability to perform mathematical calculations, usually as a result of brain dysfunction.

## Thursday’s quiz

02/08/2012

Thursday’s questions were:

1. Who said: “Champions aren’t made in the gym. Champions are made from something deep inside them, a desire, a dream, a vision.”?

2. Who won New Zealand’s first Olympic medal (then competing for Autralasia), who won NZ’s first medal competing for NZ, who was the first New Zealander to win gold and who was first to win gold for NZ?

3. It’s gagner in French, vincere in Italian, ganar in Spanish and toa in Maori, what is it in English?

4. Who was New Zealand’s first female gold medalist and who was our first female double gold medalist?

5. Who was our  first triple gold medalist, our first quintuple  gold medalists and first female triple gold medalist?

## GDT milk price up

02/08/2012

The trade-weighted price in this morning’s GlobalDairyTrade auction increased 3.5% from the price at the previous auction.

The drought in the USA which has pushed up theprice of grain might be a contributing factor.

The price of anhydrous milk fat decreased 1.3%, buttermilk fat fell 8.6%, cheddar increased 5.5%, lactose was up 3.6%, milk protein concentrate increased 11.5%, rennet casein was up by 7.3%, skim milk powder increased 3% and whole milk powder increased 3.5%.

## Rural round-up

02/08/2012

Meat price outlook positive in spite of short term wobbles – Allan Barber:

The exchange rate and uncertainty in the Eurozone remain the biggest negatives for red meat exports in the short term, but the outlook is still positive heading into next year.

It’s very hard to pick what will happen in Europe which will inevitably have a large impact on lamb prices for the foreseeable future. Southern Europe and the UK are technically in recession and are unlikely to improve much, at least until the ECB manages to sort out how it will cope with the trials of Greece, Spain and others. . .

Craigmore Forestry Fund, which is managed by Forbes Elworthy’s Craigmore Sustainables, paid \$2 million for 511 hectares land it wants to convert into forestry, as it looks to build plantations down the east coast of the North Island.

The fund has built up 9,200 hectares of land running from the East Cape to Riversdale, where it plans to either manage existing forestry operations or plant trees on farming land, according to summary decisions from the Overseas Investment Office. . .

A permeating puzzle – Offsetting Behaviour:

Canadian supporters of supply management note that they’re helping to protect Canadians from “permeate” milk. Or at least my Twitter friend from the Canadian Dairy Lobby keeps needling about use of permeate.

Permeate is a concentrated byproduct from cheese-making that, in diluted form, can be added into fluid milk. You can also get it through ultrafiltration: ultra-filter the milk, then add stuff back in varying proportions depending on the blend you want to achieve. It’s relatively high in lactose, so it could make milk less friendly for those with lactose intolerance, but it otherwise seems pretty innocuous. Most supermarket milk in New Zealand uses permeate; it’s been a bit controversial in Australia. . .

Ravensdown first fertiliser company to break billion dollar milestone:

Ravensdown, the 100% farmer-owned co-operative, has become the first NZ fertiliser company to surpass a billion dollars in revenue. The co-operative also helped shield shareholders from world price volatility for imports such as urea for a large part of the reporting period.

Revenues for the year to 31st May 2012 were a record \$1.07 billion, an increase of 15%. The co-operative plans to distribute \$53.5 million to shareholders. This represents a total of \$40.48 per tonne of fertiliser purchased which is made up of a rebate of \$15.10 per tonne plus a bonus share issue of 17 shares per tonne (tax paid) valued at \$25.38 per tonne. . .

Synlait Milk has scooped the Agri-Business Award in the Sensational Selwyn Awards, which recognise business excellence in the Selwyn District.

Over 500 people attended the biennial awards dinner held on 28 July at the Lincoln Events Centre. Finalists for the award included Coppersfolly Limited and Ellesmere Transport Company Limited.

Since operations began in 2008, Synlait has grown to become one of Selwyn’s largest companies, processing over 500 million litres of milk a year from around 150 Canterbury farms, and employing 128 staff. . .

The Federation of Māori Authorities says supporting the world’s top agricultural biotechnology conference being held in Rotorua in September is an opportunity to connect its members with the best minds in the business.

The Federation has come on board as a Platinum sponsor of ABIC (Agricultural Biotechnology International Conference) 2012, which will bring industry leaders, researchers and scientists, investors and policy makers from around the world to New Zealand.

ABIC 2012 is hosted by NZBIO, the New Zealand biotechnology industry association.

The Federation of Māori Authorities represents New Zealand businesses with a combined asset base valued at NZ\$8 billion, much of which comes from interests in seafood, forestry, dairy, sheep and beef, horticulture and energy. . .

Hawke’s Bay Regional Council’s compliance monitoring of dairy farms shows a marked increase in the level of full compliance.

Full compliance is up to 80% across the region, with the majority of the 20% non-compliance being of a technical nature rather than having a direct adverse environmental effect. . .

## Regular recklessness no longer

02/08/2012

Hon BILL ENGLISH: It is not the intent of this Government to lower itself to the standards of the previous Government, where regular recklessness with the truth was almost a qualification to be a Minister.

He was responding as acting Prime Minister to a question from Labour’s Grant Robertson.

## Bigger dividend still poor return on capital

02/08/2012

Record milk production will enable Landcorp to boost its dividend to the government:

Landcorp will increase the full-year dividend to \$20 million from the \$15 million payment budgeted for, after “strong production and livestock product prices” boosted operating earnings, the company said in a statement yesterday. The improvement included record milk production of 13.3 million kilograms of milk solids.

The state-owned enterprise’s operating earnings were about \$27 million in the year ended June 30, “greatly improved” from the \$16.3 million forecast, but down from \$42.2 million a year earlier.

The dividend will be higher but income, while higher than expected, is lower than last year and shareholder return is dismal.

The state-owned enterprise’s operating earnings were about \$27 million in the year ended June 30, “greatly improved” from the \$16.3 million forecast, but down from \$42.2 million a year earlier.

Landcorp will deliver total shareholder return of about \$8.1 million, some \$85.3 million below budget.

“This largely reflects static farmland values over the year and a decline in livestock values,” it said.

The half-year report to December 2011  shows the company has about 90% equity which is a permission most other farmers would envy.

But it still makes a very poor return on capital.

That once more raises the question: why is far state in farming when there are so many areas where the money would be better invested?

## August 2 in history

02/08/2012

BC  A Macedonian army led by Philip II defeated the combined forces of Athens and Thebes in the Battle of Chaeronea, securing Macedonian hegemony in Greece and the Aegean.

216 BC Second Punic War: Battle of Cannae – The Carthaginian army lead by Hannibal defeated a numerically superior Roman army under command of consuls Lucius Aemilius Paullus and Gaius Terentius Varro.

1377 – Russian troops were defeated in the Battle on Pyana River, while drunk.

1610  Henry Hudson sailed into what it is now known as Hudson Bay, thinking he had made it through the Northwest Passage and reached the Pacific Ocean.

1798 French Revolutionary Wars: Battle of the Nile (Battle of Aboukir Bay) concluded with a British victory.

1835 Elisha Gray, American inventor and entrepreneur, was born (d. 1901).

1869 Japan’s samurai, farmer, artisan, merchant class system (Shinōkōshō) was abolished as part of the Meiji Restoration reforms.

1870  Tower Subway, the world’s first underground tube railway, opened in London.

1903  Fall of the Ottoman Empire: Unsuccessful uprising led by the Internal Macedonian-Adrianople Revolutionary Organization against Ottoman,TUrkey, also known as the Ilinden-Preobrazhenie Uprising.

1916  World War I: Austrian sabotage caused the sinking of the Italian battleship Leonardo da Vinci in Taranto.

1923  Shimon Peres, Israeli politician, Prime Minister of Israel and the ninth President of Israel, was born.

1924  James Baldwin, American author, was born (d. 1987).

1924  Carroll O’Connor,  American actor, was born (d. 2001).

1925  Alan Whicker, British journalist and broadcaster, was born.

1932 Peter O’Toole, Irish-born actor, was born.

1932 – The positron (antiparticle of the electron) was discovered by Carl D. Anderson.

1934 Gleichschaltung: Adolf Hitler became Führer of Germany.

1937 The Marihuana Tax Act of 1937 was passed in America, essentially rendering marijuana and all its by-products illegal.

1939 Albert Einstein and Leó Szilárd wrote a letter to Franklin D. Roosevelt, urging him to begin the Manhattan project to develop a nuclear weapon.

1942 Isabel Allende, Chilean author, was born.

1943  Rebellion in the Nazi death camp of Treblinka.

1943  World War II: PT-109 was rammed by the Japanese destroyer Amagiri and sank. Lt. John F. Kennedy, future U.S. President, saved all but two of his crew.

1944  Birth of the Socialist Republic of Macedonia.

1945 World War II: Potsdam Conference, where the Allied Powers discussed the future of defeated Germany, concluded.

1964  Vietnam War: Gulf of Tonkin Incident – North Vietnamese gunboats allegedly fired on U.S. destroyers, USS Maddox and the USS Turner Joy.

1967  The second Blackwall Tunnel opened in Greenwich, London.

1968  The 1968 Casiguran Earthquake hit Casiguran, Aurora, Philippines killing more than 270 people and wounding 261.

1973 A flash fire killed 51 at the Summerland amusement centre at Douglas, Isle of Man.

1980  A bomb exploded at the railway station in Bologna, killing 85 people and wounding more than 200.

1983 USS Texas was met by anti-nucelar protesters while visiting  Auckland.

1985 Delta Air Lines Flight 191, a Lockheed L-1011 TriStar crashed at Dallas/Fort Worth International Airport killing 137.

1989  Pakistan was re-admitted back into the Commonwealth of Nations, for restoring democracy.

1989  1989 Valvettiturai massacre by Indian Peace Keeping Force in Sri Lanka killing 64 Tamil civilians.