Word of the day

Irrefragable – impossible to refute, alter, break, contest, controvert or disprove; indisputable.

Rural round-up

Freeloaders relying on co-ops – Alan Williams:

Using a mathematical formula to work out the level of overcapacity in meat processing won’t work, Silver Fern Farms chairman Rob Hewett says.

And nor would the Meat Industry Excellence (MIE) proposal for a permanent reduction in capacity offset by a reserve processing plant, funded by the industry and used only at times of  very high demand for killing space. That idea, based on the electricity industry model, was too simplistic.

“You’d have hundreds of people just sitting round most of the time, not doing anything. The issue is more complex than that.”

Hewett agreed with farmers who wanted enough killing space available all the time to cope with seasons like the current one, with drought conditions in many areas. . . .

 Rabobank New Zealand 2014 results:

Rabobank New Zealand Limited (RNZL) has further strengthened its position in the New Zealand rural banking market, recording above market rural lending growth, and reporting its highest net profit after tax (NPAT) of $105.49 million in 2014.

RNZL recorded net lending growth of $342 million in 2014, with the bank’s rural lending portfolio growing by 4.5 per cent, slightly ahead of overall rural debt market growth of 4.3 RNZL chief executive officer Ben Russell said the results were pleasing, as they demonstrated Rabobank’s ongoing commitment to New Zealand’s critical food and agribusiness sector, and were consistent with the bank’s goal of supporting clients to both help feed the world and achieve their goals and aspirations. . .

South American beetle introduced to control weeds:

A tiny Chilean beetle has been introduced to New Zealand in a bid to control a weed that if left unchecked could potentially become as big a problem as gorse.

Landcare Research, a Crown research institute which focuses on environmental science, recently provided Environment Southland with about 70 barberry seed weevils to release just north of Invercargill as a biocontrol agent for Darwin’s barberry. The fast-spreading orange-flowered thorny shrub has become a huge problem across the country, threatening to overrun native plants and farmland – particularly in Southland.

It is the first time this species of weevil, a type of beetle, has been used as a biocontrol agent anywhere in the world. . .

Natural pesticides tested:

New Zealand scientists have begun trials to test the effectiveness of some natural pesticides on one of the world’s worst vegetable pests, the diamond back moth.

The moth caterpillar causes serious damage to brassica crops such as broccoli, cabbage, cauliflower and bok choy.

More than a billion dollars a year is spent on trying to control the pest. The moth quickly becomes resistant to whatever chemical pesticide is used on it.

Scientists working under the Bio-Protection Research Centre based at Lincoln University, with the backing of genetic specialists at New Zealands Genomics, have been trying a non-chemical biological approach. . .

Going FAR for farmers – Annette Scott:

It is 20 years this week since formal practical research was initiated for the New Zealand arable industry.

On Wednesday the Foundation for Arable Research (FAR), established in 1995, will mark a number of arable industry milestones as the organisation reaches its 20th birthday.

FAR was set up primarily to do practical research for arable farmers.

Over the past two decades the levy-funded organisation has developed to actively do research and extension on a broad range of grain and seed crops in NZ and Australia. . .

NZ Kiwifruit Growers United In Support For Industry Change:

Following a record voter turn-out, interim results show more than 90 percent of New Zealand kiwifruit growers have supported the outcomes of the Kiwifruit Industry Strategy Project (KISP) to lock-in long-term grower ownership and control of their industry.

KISP’s Independent Chairman, Neil Richardson, said the voter turn-out and interim results were outstanding. They are a clear sign New Zealand kiwifruit growers are united in their vision for the future of their industry, he said.

“Two-thirds of growers, representing 80 percent of production voted in the KISP referendum. This compares to an average voter turn-out in primary industry of around 40 percent. . .

 

Zespri welcomes high turnout and support for positive change in grower referendum:

Kiwifruit growers have made a strong statement about the direction they want for their industry in the Kiwifruit Industry Strategy Project (KSIP) referendum. There is a clear mandate for change with interim results from the referendum showing two-thirds of growers, representing 80 percent of production, voting so far, says Zespri chairman Peter McBride.

“Over 90 percent of growers have clearly stated their desire for change in three areas which affect Zespri – ownership of Zespri shares by growers who have left the industry, the mechanism by which the Zespri margin is calculated and changes to Zespri’s board to formalise the three independent members. . .

 

Memories of the working horse – Mark Griggs:

RON Job, now retired at Parkes, says a lot of memories return as he inspects some of the horse harness and gear stored in the tack room at “The Grange”, Peak Hill.

The tack room was attached to the original stables, which have been converted into a machinery shed and workshop now the work-horse days are long gone.

“The Grange” is owned by the Frecklington family who settled there in the late 1800s.

The property is now operated by Ian and Lyn Frecklington, who have kept the old gear stored in the tack room where it was left as motor vehicles took over from real horsepower, and have been close family friends with the Job family for many years. . .

Fonterra holds forecast payout drops dividend UPDATE – Synlait increases forecast

Fonterra is maintaining its forecast milk payout for the current season but is dropping the proposed dividend.

In a newsletter to shareholders, chair John Wilson said:

• We are holding the forecast Farmgate Milk Price at $4.70 per kgMS.
• However, we are lowering our forecast dividend to 20-30 cents per share, resulting in a forecast Cash Payout of $4.90 – $5.00.
• The Board has declared a 10 cent interim dividend to be paid on April 20 (the record date is April 10).
• The half-year results will be below your expectations, in a period when the Milk Price is low and the forecast dividend range is being reduced.
• The results are due to tough conditions in dairy globally, with volatility in production and pricing, and further impacts of inventory valuation realities after our record Milk Price last year. . .

 

• In summary, the results:
  • Forecast Cash Payout for the 2014/15 season, maintained at $4.90 – $5.00
    • Forecast Farmgate Milk Price $4.70 per kgMS
    • Estimated full year dividend of 20-30 cents per share
  • Revenue $9.7 billion, down 14 per cent
  • Normalised EBIT $376 million, down 7 per cent
  • Net profit after tax (NPAT) $183 million, down 16 per cent
  • Interim dividend of 10 cents per share.

Farmers will be relieved the milk payout is not being reduced.

UPDATE:

Synlait has increased its forecast milk price.

Synlait Milk has increased its forecast of the market milk price for the FY2015 season from $4.40 per kgMS to a range of $4.50 – $4.70 per kgMS.

“The market has recovered faster than expected, but recent volatility has shown us it still remains fragile,” said John Penno, Managing Director.

Mr Penno also acknowledged how financially difficult the current season is for suppliers and says this increased forecast market milk price range will be well received.

“Cash flows are incredibly important for our suppliers, particularly as they head into winter. We indicated in February that our next update would be in May, but given current market conditions, I’m pleased we can provide one now”.

Mr Penno added that this update will enable Synlait suppliers to manage their finances with more certainty and a corresponding increase in advance rates will further support this.

“We believe the market will continue to recover in the medium term as consumption expands and production growth slows in response to lower pricing. However, we remain mindful of the additional milk growth likely to come from Europe as milk production quotas are removed on April 1”.

“We will continue to keep an eye on the market and expect to update our forecast market milk price towards the end of May 2015”.

 

Quote of the day

“I have built a confirmation bias so strongly into my own fabric that it’s hard to imagine a fact that could wonk me,” . . . . “At some level, the news has become a vast apparatus for continually proving me right in my pre-existing prejudices about the world.” – Jesse Armstrong

March 25 in history

421 – Venice was founded at twelve o’clock noon, according to legend.

708 – Pope Constantine succeeded Pope Sisinnius as the 88th pope.

717 – Theodosios III resigned the throne to the Byzantine Empire to enter the clergy.

1199 Richard I was wounded by a crossbow bolt while fighting France.

1306 Robert the Bruce became King of Scotland.

1347 Catherine of Siena, Italian saint, was born d. 1380).

1409 The Council of Pisa opened.

1584 Sir Walter Raleigh was granted a patent to colonize Virginia.

1634  The first settlers arrived in Maryland.

1655 Saturn‘s largest moon, Titan, was discovered by Christian Huygens.

1802 The Treaty of Amiens was signed as a “Definitive Treaty of Peace” between France and Britain.

1807 The Slave Trade Act became law, abolishing the slave trade in the British Empire.

1807 – The Swansea and Mumbles Railway, then known as the Oystermouth Railway, became the first passenger carrying railway in the world.

1811 Percy Bysshe Shelley was expelled from the University of Oxford for his publication of the pamphlet The Necessity of Atheism.

1821 Greeks revolted against the Ottoman Empire, beginning the Greek War of Independence.

1847 Duel between Dr Isaac Featherston, editor of the Wellington Independent, and Colonel William Wakefield, the New Zealand Company’s Principal Agent in New Zealand.

1881 Mary Gladys Webb, English writer, was born  (d. 1927).

1894  Coxey’s Army, the first significant American protest march, left Massillon, Ohio for Washington D.C.

1897 John Laurie, Scottish actor, was born (d. 1980).

1899 Burt Munro, New Zealand motorcycle racer, was born (d. 1978).

1903 Racing Club de Avellaneda, one of the big five of Argentina, was founded.

1908 Clube Atletico Mineiro was founded in Belo Horizonte, Brazil.

1911 In New York City, the Triangle Shirtwaist Factory fire killed 146 garment workers.

1913 Sir Reo Stakis, Anglo-Cypriot hotel magnate, was born (d. 2001).

1914 Norman Borlaug, American agriculturalist, recipient of the Nobel Peace Prize, was born (d. 2009).

1917 The Georgian Orthodox Church restored its autocephaly abolished by Imperial Russia in 1811.

1918 The Belarusian People’s Republic was established.

1922 Eileen Ford, American model agency executive, was born.

1924  On the anniversary of Greek Independence, Alexandros Papanastasiou proclaimed the Second Hellenic Republic.

1934 Gloria Steinem, American feminist and publisher, was born.

1937 Tom Monaghan, American fast-food industry entrepreneur, was born.

1939 Cardinal Eugenio Pacelli beccame Pope Pius XII.

1940 John A Lee was expelled from the Labour Party.

1941 The Kingdom of Yugoslavia joined the Axis powers with the signing of the Tripartite Pact.

1942 Aretha Franklin, American singer, was born.

1947  An explosion in a coal mine in Centralia, Illinois killed 111.

1947 Elton John, English singer and songwriter, was born.

1948  The first successful tornado forecast predicted that a tornado would strike Tinker Air Force Base, Oklahoma.

1949  The March deportation was conducted in Estonia, Latvia and Lithuania to force collectivisation by way of terror. The Soviet authorities deported more than 92,000 people from Baltics to remote areas of the Soviet Union.

1957  United States Customs seized copies of Allen Ginsberg‘s poem “Howl” as obscene.

1957  The European Economic Community was established (West Germany, France, Italy, Belgium, Netherlands, Luxembourg).

1958  Canada’s Avro Arrow made its first flight.

1960 Steve Norman, British saxophonist (Spandau Ballet), was born.

1960 Peter O’Brien, Australian actor, was born.

1965  Sarah Jessica Parker, American actress, was born.

1965  Civil rights activists led by Martin Luther King, Jr. successfully completed their 4-day 50-mile march from Selma to the capitol in Montgomery, Alabama.

1969  During their honeymoon, John Lennon and Yoko Ono held their first Bed-In for Peace at the Amsterdam Hilton Hotel (until March 31).

1971 Beginning of Operation Searchlight of Pakistan Army against East Pakistani civilians.

1975 Faisal of Saudi Arabia was shot and killed by a mentally ill nephew.

1979  The first fully functional space shuttle orbiter, Columbia, was delivered to the John F. Kennedy Space Center to be prepared for its first launch.

1988  The Candle demonstration in Bratislava – the first mass demonstration of the 1980s against the communist regime in Czechoslovakia.

1992  Cosmonaut Sergei Krikalev returned to Earth after a 10-month stay aboard the Mir space station.

1995  The world’s first wiki, a part of the Portland Pattern Repository, was made public by Ward Cunningham.

1996  An 81-day-long standoff between the anti-government group Montana Freemen and law enforcement near Jordan, Montana, began.

1996  The European Union’s Veterinarian Committee bans the export of British beef and its by-products as a result of mad cow disease (Bovine spongiform encephalopathy).

2006  Capitol Hill massacre: A gunman killed six people before taking his own life at a party in Seattle’s Capitol Hill neighborhood.

2006 Protesters demanding a new election in Belarus following the rigged Belarusian presidential election, 2006 clashed with riot police. Opposition leader Aleksander Kozulin was among several protesters arrested.

Sourced from NZ History Online & Wikipedia