Red meat export receipts reached a record high for the December quarter of the 2017-18 season, according to an analysis by Beef + Lamb New Zealand’s (B+LNZ) Economic Service.
The record was driven by high export volumes and average Free-on-Board (FOB) per tonne at record values for lamb and mutton, and near record values for beef, while the New Zealand dollar (NZD) has remained relatively strong.
Andrew Burtt, B+LNZ chief economist, said lamb and mutton farm-gate prices were up 30% and 59% respectively for the first quarter of the season (October-December 2017) compared to the previous season. Cattle prices were relatively steady – up 5%. . .
MPI says disease is contained – Annette Scott:
Despite the growing number of properties testing positive for the cattle disease Mycoplasma bovis the Ministry for Primary Industries (MPI) remains adamant it has the disease contained.
MPI on Wednesday confirmed three new infected properties, two in Southland and one at Ashburton, bringing the total number of properties testing positive to 17, including one in Hawke’s Bay.
The number of restricted place notice properties is 34 and the number of properties for casing is 206. . .
Fonterra says it is “extremely disappointed” that China’s Beingmate Baby & Child Food, in which it has an 18.8 per cent stake, has issued another earnings downgrade – this time to a loss of $171-$214 million for the December 2017 year.
The previous forecast was for a loss of RMB350m to RMB500m ($75m to $107m).
Fonterra said it was assessing the implications the loss would have on its first half result.
“As an investor in Beingmate, we are extremely disappointed by this announcement and the on-going performance of the company,” Fonterra said in a statement. . .
Jamie Mackay will be back at Waimumu to defend his speed shear title, this time going head to head with Rural Exchange presenter and former sports commentator Hamish McKay.
The inaugural Southern Field Days Speed Shears, held at the 2016 event, had The Country presenter Jamie Mackay go head to head with National leader Bill English.
Mackay walked away with bragging rights and he is coming south to compete again in this year’s “Celebrity Shear Off”. . .
Farm groups back TPP deal as Australia, Japan issue new March deadline – Kelsey Johnson:
Canadian farm groups are doubling down on their support for the revamped Trans-Pacific Partnership (TPP), after Australian Prime Minister Malcolm Turnbull said he wants the multilateral trade deal finalized by March — with or without Canada and Mexico.
The Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) has been in negotiation since the United States pulled out of the Trans-Pacific Partnership last January. Eleven members nations are involved in the discussions, including Australia, New Zealand, Japan, Mexico, Vietnam and Canada.
During a state visit to Japan this week, Turnbull said Australia and Japan want the new agreement finalized and an agreement-in-principle signed by March, according to reports from The Australian Financial Review. . .