Rural round-up

July 1, 2015

Dr Rolleston new vice-president of the World Farmers Organisation:

Federated Farmers President, Dr William Rolleston has been elected Vice President of the World Farmers Organisation (WFO) while attending its General Assembly in Milan.

The WFO aims to bring together all the national producers and farm cooperative organisations with the objective of developing policies which favour and support farmers’ causes in developed and developing countries around the world.

“I am delighted and incredibly humbled to be elected into this role,” says Dr Rolleston. .  .


Sheep shipment should have been handled better – Jon Morgan:

 I recall once being told that the Prime Minister gets more calls and letters about animal welfare than any other issue.

No-one likes to see an animal suffer and it appears we’re more vigilant about this than we are about anything else, including child cruelty.

The authorities act quickly and severely when cases of animal cruelty occur. Hardly a week goes by when we’re not reading of a case before the courts. Unfortunately, each year several of these are farmers and involve multiple animals.

And so the outcry over the recent shipment of 50,000 sheep (actually 45,000) to Mexico quickly escalated to hysterical levels. . .

Gisborne bull breeders on a high after $100,000 sale  – Kate Taylor:

Angus breeders Charlie and Susie Dowding are buzzing at the sale of one of their bulls for $100,000 – a record price for an on-farm bull sale in New Zealand.

The Gisborne stud’s Rangatira 13-38 sold to the Bayly family’s Cricklewood Angus, Wairoa, which will use the rising two-year-old bull itself initially and make semen available for sale in the future.

“I don’t think I’ve stopped smiling yet,” Susie Dowding said.

“We had no idea at all he would be so sought after. We had moved him up the catalogue but obviously he should have been up further. I’m not sure how many were bidding to start with but it ended up with two studs who wanted him badly.” . .

Focus on support networks – Sally Rae:

A gathering of rural professionals is being held in Oamaru next week to highlight the support networks available to farmers.

It has been organised by the Rural Support Trust, Federated Farmers, Beef and Lamb New Zealand and DairyNZ.

The organisations all had concerns for farmers, particularly in North Otago but also other areas, over the next three to four months, as they faced the effects of drought and also the low dairy payout, Otago Rural Support Trust co ordinator Dave Mellish said. . .

ECan’s future direction – Conan Young:

After five years without a democratically elected regional council, warnings are being sounded that Canterbury’s stock of capable leaders is in danger of being hollowed out.

As Insight investigated the plan for ECan to make a partial return to democracy, it was told the region is getting used to having decisions made for it by government appointed commissioners.

Environment Canterbury’s councillors were sacked by the government amidst claims they were dysfunctional and had failed to introduce a water plan for the region, allowing it to make the most of its alpine water and reap the economic rewards of large scale irrigation.

Now there’s a proposal for a partial return to democracy with a mix of elected members and appointed commissioners.

According to the government, there’s still too much at stake to risk a return to fully elected councillors.

But the head of the Politics Department at Canterbury University, Bronwyn Hayward, takes issue with that position. . .


Cashflow crucial for Taranaki demonstration farms – Sue O’Dowd:

Demonstration farms near Stratford and Manaia are closely monitoring their cashflow, focusing on pasture management and deferring some expenditure as they plan for the season ahead.

The Stratford Demonstration Farm, operated by an incorporated society, and the Waimate West Demonstration Farm, owned by a trust, were both established in 1917 by local farmers who wanted a model dairy farm in their area to develop and promote better farming methods. Both farms are managed by the Taratahi Agricultural Training Centre. 

Waimate West Demonstration Farm chairman John Fischer says cashflow will be crucial if dairy farmers are to manage their finances in the wake of two seasons of low payout forecasts. . .

Auditing just futile bureaucracy –  Lynda Murchison:

So much time and energy is spent managing land and water at present, with decisions around rules only the first step.

What those rules look like and how much they will cost farmers and the community to implement also needs close scrutiny. Take a couple of examples from Canterbury.

Overseer; like it or hate it, Canterbury farmers are required to record an estimate of their nitrogen losses using Overseer. Personally I don’t have an issue with that. . .

Rural round-up

November 4, 2014

Read the story not just the headline – Jon Morgan:

Milk not as good as we thought? Milk may do more harm than good – not quite the headlines to lift the confidence of dairy farmers.

Unfortunately, they and others like them have been seen in major newspapers, on TV news and on news websites around the world in the past week.

They come from a study by Swedish researchers that comes to the conclusion that drinking more than three glasses of milk a day may not protect bones against breaking, and may even lead to higher rates of death.

The study suggests certain types of sugars found in milk may increase inflammation and oxidative stress, which can damage body cells.

To the credit of some reports, they also added high up in the story the researchers’ comment that they could not prove “cause and effect” and much more research was needed before anyone would be advised to limit their milk consumption. . .

Dairy farm focus on cost-cutting – Dene Mackenzie:

Dairy farmers will focus on the parts of their business they can easily change as their income drops in the 2014-15 season, according to ASB chief economist Nick Tuffley.

In his quarterly economic forecasts, released this morning, Mr Tuffley said the firstthings farmers would look at were likely to be feed and farm maintenance.

Last season, farmers had incentive to increase production through additional feed and, generally, the feed price was of secondary importance to feed availability. That resulted in palm kernel imports rising by 400 million kg, or 29%, on the previous season, at an additional cost of $120 millon, he said.

”This season, in many cases extra feed doesn’t pay. Farmers may reduce the amount of feed they purchase or make what they do have go further.” . . .

Uruguay link still strong – Sally Rae:

Back in the 1960s, a young Enrique Larraechea, from Uruguay, visited the Robertson family in West Otago and bought a Romney ram.

Decades later, Mr Larraechea has returned, recently purchasing rams from Blair Robertson at the Merrydowns stud at Waikoikoi, and his uncle David Robertson, at the Aurora stud at Palmerston.

Buying from the Robertson family had become a ”very, very nice family tradition” over the years.

”I feel very much together with them … we have complete faith in each other,” Mr Larraechea, known as Kike, said.

In the 1960s, he travelled throughout New Zealand looking at sheep. While the rams in the north were ”very nice” and very refined, they were not what he wanted in a commercial sheep. . .

Speech to Fonterra UHT plant opening in Waitoa – Nathan Guy:

It’s great to be here today at the official opening of Fonterra’s new UHT milk processing plant.

This is a $126 million project which has been completed in just 12 months, and has created 100 new local jobs.

It’s a real vote of confidence in New Zealand’s dairy industry, which continues to be a major contributor to our economy. Dairy is our biggest single export earner.

Our farmers produce a quality product that ends up in over 100 countries around the world. The primary sector is the backbone of our economy that generates around $4 million an hour. This helps the Government get back into surplus and invest in things like schools, hospitals and roads.

As a Government we have an ambitious goal of doubling the value of our primary sector exports to $64b by 2025. . .



Building sheepmeat demand globally:

The Sheepmeat Council of Australia (supported by Meat & Livestock Australia), Beef + Lamb New Zealand and Organismo de la Unidad Nacional de Ovinocultores (‘the National Mexican Sheep Producers Organisation’) have signed a Memorandum of Understanding (MoU) on sheepmeat cooperation.

The MoU recognises that the sheepmeat industries of Australia, New Zealand and Mexico share the goal of building sheepmeat demand globally. There are also a number of other common objectives including animal health and welfare, food safety, environmental sustainability, and industry profitability.

Beef + Lamb New Zealand Director Andy Fox said there are considerable advantages to be gained by working together to further these objectives.

“The Australian and New Zealand sheepmeat industries are seeking to build relationships with producer organisations from around the world. The reality is sheepmeat faces strong competition in the marketplace from other protein sources. It is important the sheepmeat industry works together to promote our premium product,” Mr Fox said. . .

New Agri One chief executive appointed:

Lincoln University and Massey University are pleased to announce the appointment of Mark Williamson as chief executive officer of their joint venture, Agri One.

Mr Williamson was formerly domestic marketing manager at Solid Energy and has extensive management and marketing experience.

Agri One was set up in 2011 with a focus on the two institutions working together to create new market opportunities. It promotes research-led education to assist farming and agri-food industries and facilitates professional development courses, joint research proposals, and seminars and symposia in the area.

It also undertakes a brokering role to introduce agri-food businesses to academics at Lincoln University and Massey University. . . .



Rural round-up

October 31, 2014

Seasonality drives the red meat industries – Keith Woodford:

I have previously described the challenges that seasonality creates for the dairy industry. For New Zealand’s red meat industries, those issues are even more constraining. It is a key part of the reason why restructuring the meat industry is so challenging.

Sheep are designed by nature to give birth in the spring, and their fertility is much reduced at all other times of the year. Given that the market predominantly wants carcasses of 17 – 20 kg, this means that most lambs are ready for slaughter between December and April, with the peak slaughter in a shorter period from January to March.

In practical terms, this makes impossible the development of a mainstream consumer products industry based on a 12 month supply of chilled lamb. Trying to configure the national industry in this way would lead to exorbitant production costs. . . .

Dam could lift region’s GDP by $54.5m:

A new report shows the gross domestic product of the Nelson Tasman region could be lifted by more than $54 million if a proposed dam is built.

The analysis by the New Zealand Institute of Economic Research has been released during a public consultation of Tasman ratepayers into the possible funding models for the Waimea Community Dam.

The report’s author, senior economist Peter Clough said his analysis suggested the benefits of the dam would more than cover the cost of its construction.

Nelson Economic Development Agency chief executive Bill Findlater said the Lee Valley project definitely stacks up. . .

Details about next Tuesday’s Ruataniwha water event:

Federated Farmers and Irrigation NZ have released more details about the free “Ruataniwha – it’s Now or Never” event, taking place from 7pm next Tuesday (4 November), at the Waipawa/Central Hawke’s Bay Municipal Theatre. 

“It is definitely not going to be a theoretical discussion about economic models, but real world examples of farmers and schemes with costs similar to what the Ruataniwha Water Storage Scheme proposes,” says Will Foley, Federated Farmers Hawke’s Bay.

“Instead of talking about an economic model, we’re bringing up farmers involved in the comparable cost North Otago Irrigation Company scheme and Mid-Canterbury’s BCI scheme.  . .

Sheep, beef farmers want big changes – Sally Rae:

West Otago sheep and beef farmers Nelson and Fiona Hancox want farmers to ”stand up and be counted” and take charge of their futures.

The couple, who are both passionate about the red meat industry and are involved with various groups and industry bodies, believe it is time for farmers to take control.

Mrs Hancox was nominated to attend the 2014 Rabobank Global Farmers Master Class in Australia next month, where she would have been joining farmers from around the world. . .


Maori agriculture selling itself short – Gerald Hutching:

Maori agriculture has “huge” potential for development but only 20 per cent of farmland is well developed, 40 per cent is underperforming, and 40 per cent is under-used, says a Massey University academic.

Lecturer and researcher and Kaiarahi Maori Dr Nick Roskruge said about 720,000 hectares of Maori land was farmed, returning $750 million a year, but its short-term potential was $6 billion.

Maori are most strongly represented in the sheep and beef cattle sectors, with dairying becoming increasingly important. About 15,000 Maori are employed in the sector. . .

Capitalising on a perfect partnership on-farm – Jon Morgan:

Rambunctious is the best name for this ram. He’s a big bruiser, used to getting his own way, and he doesn’t like being manhandled.

He struggles out of Peter Tod’s grip and makes a break for freedom. But the Otane farmer’s determination is stronger and the ram is wrestled into submission for a photograph.

He is picked out from a small mob as the most photogenic because of his open face, long back, well-shaped legs, sound feet, and meaty hindquarters. . .

Rural round-up

September 8, 2014

Ballance Farm Environment Awards Show Farmers Care:

Bay of Plenty dairy farmer Trevor Hamilton entered the Ballance Farm Environment Awards because he had a point to prove.

Trevor and his wife Harriet run a large-scale family business that spans ten farms – five in Canterbury, four in Bay of Plenty and one in Hawke’s Bay. The operation is on track to produce three million kilograms of Milksolids this season, with four million targeted for 2015/16.

Starting from scratch as a sharemilker in 1980, Trevor says his aim is to create an intergenerational dairy farming business. But he is acutely aware that the scale of the operation opens it up to claims that its growth has come at the expense of the environment.

Entering the Ballance Farm Environment Awards gave him the opportunity to prove this wasn’t the case. . . .

NZ possum hits fashion catwalk –  Sally Rae:

With apologies to Dame Edna, it’s Goodbye Possums.

New Zealand’s possum fur industry is estimated to be worth $130 million annually to the country’s economy.

Perino, a blend of possum fur and cashmere or merino yarn, recently featured on the catwalk in garments from the latest collections from Zambesi and The Noble Savage. . .

Lavender: The sweet smell of success – Sally Rae:

Two novice lavender growers from Central Otago nearly stole the show at this year’s New Zealand Lavender Growers Association awards.

In the oil competition, Joth Hankinson and Tony Culshaw, from Central Otago Produce, won two of the three trophies on offer – the Eoin Johnson Memorial Trophy for best lavandin oil, and the Ken Wilson Memorial Trophy, for best grosso.

Two particular types of lavender were grown commercially for oil – angustifolia or English lavender, and intermedia lavender – also called lavandin – a hybrid cross between an angustifolia and a latafolia, which grows in the wild at higher altitudes in the Mediterranean. . .

Drone big success on and off the farm – Rob Tipa:

A Southland family pioneering the use of drones on New Zealand farms believes there is a massive gap between the science, research and technology available today and its application on farms.

Neil Gardyne and his 14-yearold son Mark made television and news headlines internationally last year when they started flying drones over their 466ha hillcountry farms in the Otama Valley in Eastern Southland.

Instead of climbing on a quad bike twice a day to check on hogget lambing, the Gardynes programmed a drone to cover the same ground from the air. What took them two hours on a bike opening and closing 120 farm gates, took 20 minutes flight time for the drone. . .

No growth benefits shown with docking – Sally Brooker:

Docking lambs’ tails has no long-term beneficial or detrimental effect on lamb growth rates from docking to slaughter, a new study has found.

Alliance Group Ltd, one of New Zealand’s largest meat processing companies, Beef and Lamb New Zealand and the Ministry for Primary Industries Sustainable Farming Fund commissioned the research after farmers wondered if leaving tails intact improved lamb growth rates from docking to slaughter and British retailers had started asking about tail length.

AbacusBio consultant Jo Kerslake presented the results at a Beef and Lamb field day in South Canterbury last week. . . .

 Rustling must be stopped – but how?  – Jon Morgan:

    I suppose running sheep in a park in central Auckland is asking for trouble. The temptation of a week’s meals there for the taking is too much to expect the big city’s criminal element to ignore.

In the latest of a string of incidents, rustlers using dogs and traps targeted the 600-ewe flock in Cornwall Park.

Members of the public disturbed three men and three large dogs capturing new-born lambs. And last month rustlers stole at least six sheep – including two pregnant ewes and a large ram – from the park’s farm.

A heavily pregnant ewe was caught in a leg-hold trap but spotted by a member of the public before it could be taken.

Another ewe that was due to give birth to triplets disappeared two days earlier and three more ewes and a 110kg ram were taken a few months earlier. . .

Rural round-up

August 31, 2014

Co-operation at a strategic level – Glenys Christian:

There could be downstream as well as upstream benefits to Fonterra’s $615 million deal with Chinese infant food manufacturer Beingmate, starting at the onfarm level in that country.

Fonterra chairman John Wilson said after the announcement of the move was made on Wednesday that discussions had been held about how the co-operative could help out in other areas.

“Beingmate has its own farms,” he said.

That meant there were opportunities to look at the two companies joining together more in farm management with Fonterra already having one hub of dairy farms up and running in China, a second hub started, and commitment to a third. 

“We’ve had discussions about more alignment,” he said.

“There may be benefits upstream and downstream in the future.” . . .

Honour for noted sheep breeder – Jon Morgan:

In 1956, 23-year-old romney stud breeder Roger Marshall sold his first rams at the Manawatu and West Coast Ram Fair in Feilding. The Rangitikei Mail reported that when the first ram was knocked down at 1400 guineas after spirited bidding the large bench of buyers broke into spontaneous applause.

“I remember being quite worried because it had rained for several days before the sale, and all my rams had wet wool, but to get 1400 guineas was terrific – that was the price of a new Holden car in those days,” the quiet- spoken farmer says. “It was a great incentive for me.”

It was a sparkling opening to a career in sheep breeding that eventually took him to the other side of the world in search of new blood to rejuvenate the sheep industry. . .

A2 poised for US start – Alan Williams:

The strong NZ dollar has cut into reported profits but A2 Milk Company remains confident it can fund development of three new markets from its existing cash and cashflows.

A2 had $16 million cash in the bank at June 30 and is booking strong Australian sales and operating cashflows.

It will use them to build on its slowly developing markets in China and the United Kingdom and to begin sales in the United States next year. . .

Manuka honey sector gets boost with trial expansion:

The lucrative Manuka honey healthcare market is set to expand after New Zealand’s largest farmer, Landcorp Farming, announced it’ll be planting an additional 93 hectares of mānuka honey trees.

The new plantings are part of the High Performance Mānuka Plantations programme — a seven year Primary Growth Partnership (PGP) between the mānuka honey industry and the Ministry for Primary Industries (MPI) to increase the yield and reliability of supply of medical grade mānuka honey.

The PGP trials, involving Landcorp, Hawke’s Bay Regional Council, Comvita, Aborex Industries, Don and Conchita Tweeddale and Nukuhau Carbon Ltd, were launched in 2011 to increase the value of the mānuka honey industry from an estimated $75 million towards $1.2 billion per annum by 2028.

Maori Trustee Te Tumu Paeroa is also a shareholder in the programme. . .

Californian drought is so severe it’s ‘causing the ground to move’:

Vanishing water is causing the ground to rise in the western United States, according to a new study.

 Scientists estimate that 63 trillion gallons of water has been lost in the west over the past 18 months. 

The surface of the Earth is much more springy than you might think. When you put something very heavy on it, there’s a good chance the ground will sink at least a little bit. And in the same way, when you remove something very heavy, the ground will lift.

As it turns out, 63 trillion gallons of water is pretty heavy. . . .

Rural Women Drive Post-conflict Recovery in Bosnia and Herzegovina – Food tank:

The International Fund for Agricultural Development‘s (IFAD) Livestock and Rural Finance Development Project has helped transition rural businesses in Bosnia and Herzegovina from the initial stages of post-conflict recovery to long-term sustainable development. The program has financed rural infrastructure redevelopment and provided credit and training to small business owners. This program has particularly focused on reengaging women in the workforce.

On a macro-level, the program has helped to improve producer access to markets. At the local level, the program has encouraged the formation of producers’ associations and helped provide individuals with machinery and technical support services. For example, members of the Nevesinje’s Producers’ Association have received credit and trainings on food safety, handling, and storage of their product from the program.

The program has also helped open up a discriminatory workforce to women. In the decade following the Bosnian War, there was a marked decrease in women in the workforce and a resurgence of traditional attitudes about gender roles. . .


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Rural round-up

May 16, 2014

One in the eye for dairying’s critics – Jon Morgan:

Dairying is the popular whipping boy of the age. Dissembling politicians, rabid environmentalists, lazy news media, ignorant online commenters – they all have a go.

They peddle the usual half-truths and blatant lies: Dairying is responsible for all water pollution, dairy farmers are saddled with too much debt, they are running too many cows, using too much nitrogen fertiliser and poisoning the soils and plants, they mistreat their workers, they don’t pay their fair share of taxes, they’re responsible for global warming, the moral decay of today’s youth, war in Ukraine, the Pope turning Communist and, don’t forget, they also shot JFK.

However, one or two of their assumptions will have to be revised after the release of the latest DairyNZ economic survey.

It was a surprise even for those who support dairying to learn from the survey – which has been running for 50 years – that the costs of dairy farming have stayed the same for the past 25 years and that farms are as affordable as 40 years ago. . .

Angus cleans up at Steak of Origin Grand Final:

Colin Brown from Cambridge has been named Grand Champion in the 2014 Beef + Lamb New Zealand Steak of Origin competition with his Angus processed at AgResearch Ruakura.

After being a finalist in previous years and his Lake Farm Beef brand winning Supreme Brand in 2009, Colin has taken out the competition, sponsored by Zoetis, to find the country’s most tender and tasty sirloin steak in the Grand Final at AgInnovation in Feilding this evening.

Colin is humbled with the announcement.  “I am absolutely thrilled with the result after being named as a finalist four times in the last six years, and finally taking the title”, he says. . . .

Victory for man with big stake in beef:

It’s taken a few years, but an artisan beef producer has finally cracked the big one.

Colin Brown of Lake Farm on the shore of lake Karapiro in Waikato won the grand champion title in the Steak of Origin competition this week with a pure Angus sirloin steak.

He’s been a finalist for four of the past six years and in 2009 he won the supreme brand award with his Lake Farm Beef brand.

He’s a small scale operator, producing his beef from 100 cattle, and selling directly to customers through the internet. . .

Rockstar awards showcase our rockstar dairy industry:

The only shame about last Friday’s 2014 New Zealand Dairy Awards, at Auckland’s SkyCity, was the absence of the dairying’s most ardent critics.  Instead it was the perfect showcase for the capability and dynamism of New Zealand’s leading export industry. 

“I can forgive the print media as the Canon Awards were on the same night and the media at our industry’s event got to see dairying in its dynamic reality.  Special thanks must go to the brilliant MC Mike McRoberts but especially the New Zealand Dairy Industry Awards Trust,” says Willy Leferink, Federated Farmers Dairy chairperson.

“I honestly thought there would have been more than one Member of Parliament present but as MP’s go, the Minister for Primary Industries is a very big fish indeed.

“After the awards I saw one political party leader in a debate label-dairy low value.  There is no way you could hold those views if he’d attended these awards.  That’s the problem we have.  There are some who won’t risk shaking their beliefs by opening their eyes. . .

Firenze sires 40,000 cows, retires:

With more than 40,000 daughters in New Zealand alone there’s no denying Firenze has been one very busy bull.

The herd improvement company CRV Ambreed retired the 12-year-old holstein-friesian bull this week at a ceremony in Hamilton.

Firenze has generated about $8 million in revenue and produced about 650,000 doses of semen that have been sold around the world.

Now he’s heading back to the farm where he came from near Dunedin.

His original owner, Philip Wilson, says he’s going to ensure Firenze sees out his days in style.

“Well, we’re just bringing him home because we are proud of him and we reckon he deserves a bloody good retirement. . . .

UN look to Marlborough grape vine pruning crews – Chloe Winter:

Marlborough’s autumn colours are slowly disappearing as vine-pruning contractors move in to prepare the vineyards for next season’s growth.

Alapa Viticultural Services owner Alan Wilkinson has a team of 230 workers for the pruning season.

The workers were from Thailand, Japan, Samoa, China, Malaysia and the Czech Republic and would stay until the end of the season in September.

By that time, more than four million plants would have been pruned, stripped and wrapped, Wilkinson said. . .

 Bee’s conference breaking ground for the industry:

This year, for the first time, Federated Farmers Bee Industry Group will be joining with the National Beekeepers Association to host a New Zealand Apiculture Industry Conference in Wanganui.

“The theme of this conference is “Working Together” with a critical focus on advancing our fast growing and vital industry that is pivotal to New Zealand’s economy, with an estimated annual contribution of $5 billion a year,” says John Hartnell, Federated Farmers Bee Chairperson. . . .

Rural round-up

December 28, 2013

Huge solar power system to milk cows – Gerald Piddock:

Hugh and Sue Chisholm are turning to solar power to help run a more sustainable dairy business.

The Putaruru farmers are installing one of the country’s largest solar powered systems ever to be used on a dairy farm on their dairy shed near Putaruru.

The 28kW photovoltaic (PV) system has 112 solar panels on the roof of the Chisholm’s 64-bale rotary shed as well as two Fronius IG 150 V3 inverters.

Chisholm said the capital cost of the system was a smart investment, and part of an improvement plan for their farm. . .

Sharemilkers not bad people, just bad bosses – Jon Morgan:

Immigration adviser Lyn Sparks is blaming a rise in corporate-owned dairy farms for an increase in workers’ complaints about poor working conditions.

The Christchurch-based adviser says the biggest offenders are some corporate-owned farms run by sharemilkers.

However, he believes there are more good employers than bad in dairying.

“The bad ones are not bad people,” he says. “They just don’t know how to manage.”

But a contract milker says there are just as many bad employees in dairying as bad employers. . .

Sorry tale of swaps no one understood – Fiona Rotherham:

It has been a victory – of sorts – for farmers with the Commerce Commission last week saying it intended filing court action next March against the ANZ, ASB and Westpac banks for “misrepresenting” the sale of interest rate swap loans to rural customers.

I say a victory of sorts because there’s a lot of water under the bridge yet to get compensation for farmers, some of whom ended up more heavily indebted and losing their land.

Sold between 2005 and 2008, interest rate swaps were marketed to farmers as a way to beat rising interest rates. When the global financial crisis hit in 2008 farmers with swaps saw the interest they were paying rise when rates were falling rapidly elsewhere. The banks charged huge break fees for those wanting to exit the swaps. . . .

Bank claims farmer swaps compo call ‘too late’ – Rob Stock:

ANZ says the three-year limitation period has passed under the Fair Trading Act for the Commerce Commission to obtain compensation for farmers who were mis-sold interest rate swaps.

That, the bank warned, meant the commission “will now have to attempt a novel and uncharted method to obtain compensation if it takes the court route.”

The bank’s written statement comes in the wake of the news last week that the commission would launch legal action next March under the Act against ANZ, Westpac and ASB for the sale of the swaps between 2005 and 2008. It is also investigating another bank, not yet named, that also sold swaps and may be joined to the action. . .

Postie’s long run of deliveries nears an end – Lauren Hayes:

After 53 years, millions of kilometres, thousands of early mornings and an unthinkable amount of petrol, a Winton postie is calling it a day.

At 21, Ray Cosgrove used his savings to buy into a Central Southland rural delivery run, and began loading letters into a Hansa station wagon. The Hansa might be long gone and the delivery route altered but, more than half a century later, Mr Cosgrove and his wife, Debbie, are still delivering mail to rural Southlanders.

Mr Cosgrove bought the rural run in September 1960 and stepping into the role was not as easy as many people, including the urban posties, often thought, he said. . .

Year in review – March – Rebecca Harper:

The drought was really hurting rural communities and the bill started to mount for the primary sector with drought declarations coming thick and fast. The entire North Island was eventually declared as being in drought along with the West Coast of the South Island. Dairy production took a hit and the first talk about a merger between the two largest meat co-operatives, Alliance and Silver Fern Farms, started, as farmers looked for the causes of low lamb prices.

This was quickly followed by a call from the newly-formed Meat Industry Excellence Group, a group of lower South Island farmers, for meat-sector consolidation. A meeting in Gore to gauge support and discuss possible reform of the red meat industry attracted 1000 farmers and Alliance chairman Owen Poole put the cost of consolidation at $600 million. . .


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