Rural round-up

Lamb prices and grass markets define a better second half of season:

Stronger lamb prices and plenty of grass have bumped up the season’s forecast profit for sheep and beef farmers.

Beef + Lamb New Zealand’s (B+LNZ) Mid-Season Update revises up its forecast for profit before tax to $75,200 for the All Classes Sheep and Beef Farm. Six months ago, the outlook had not been so good ($67,000 per farm), but with plenty of feed in most areas and better lamb prices, it’s a better outlook, Beef + Lamb New Zealand Chief Executive Sam McIvor says. . . 

First Central Plains Water sustainability report released:

Background:

The Central Plains Water Trust holds the resource consents for the Central Plains Water Scheme. Central Plains Water Limited (the Company) owns and operates the infrastructure of the Scheme and contracts the supply of water for irrigation in the Scheme area to the farmers who are shareholders. The Trust licences the use of the consents to the Company for the taking and supply of the water, but does so with agreed conditions over and above those imposed by the resource consents. The Trust’s conditions relate to the environmental performance of the Scheme, and require that the Company impose environmental requirements on the users, set out in individual Farm Plans. Another one of the conditions is for the supply of data to the Trust on an annual basis so that the Trustees can have the data analised independently for use in publishing an Annual Sustainability Report on the environmental performance of the Scheme.

The attached report was published today on the Trust’s website: www.cpw.org.nz . . .

Sale of Mainland Poultry to Navis Capital – MinterEllisonRuddWatts advises:

Shareholders of New Zealand’s biggest egg producer Mainland Poultry, have reached an agreement to sell to Private Equity firm Navis Capital.

MinterEllisonRuddWatts was lead advisor to Mainland Poultry along with ANZ Corporate Finance from Australia.

While the deal remains subject to Overseas Investment Office (OIO) approval, it is a significant transaction for the countries agricultural and FMCG industry. . . 

NZ wool auction volumes remain high as farmers seek to move stockpiles – Tina Morrison:

Volumes at New Zealand’s weekly wool auction were higher than normal for this time of year as farmers try to shift bales they held back from previous auctions due to weak prices.

Some 6,160 bales were offered at yesterday’s North Island auction yesterday, 13 percent higher than volumes for the same time last year, according to AgriHQ. Some 70 percent of the wool was sold at auction, lagging behind the 75 percent clearance rate for the season to date, and well below last year’s 90 percent rate, AgriHQ said. . . 

Eight Kiwi producers recognised in the outstanding NZ Food Producer Awards:

Farming, horticulture and aquaculture recognised alongside crafted products

Absolute NZ Meat is the Supreme Winner of the inaugural Outstanding NZ Food Producer Awards 2017. Their winning product Absolute Angus Porterhouse was named alongside seven category winners representing horticulture, aquaculture, cheesemaking, butchery and creators of premium crafted products.

The winners were announced in Auckland last night  after a panel of 10 expert food judges tasted more than 150 products from 82 growers, farmers and crafted producers in early March 2017 at the Fresh Factory in Auckland. . . 

Big cotton is planting the seeds for more subsidies – Vincent H. Smith:

Agricultural special interests have decades of practice in raiding the public purse, and it is only getting worse. Here is a case in point: cotton producers are canvassing Capitol Hill to lobby for access to a highly lucrative new set of subsidy programs.

Those programs, called Price Loss Coverage (PLC) and Agricultural Risk Coverage (ARC), were first enacted in the 2014 farm bill as a replacement for the costly Direct Payments program.  As part of a trade dispute settlement with Brazil, Congress agreed that cotton would not be covered by these two programs, which are available for major crops like corn and wheat, and minor crops like oil seeds (canola, mustard seed, etc.). . . 

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