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Daily Digest: August 7, 2020

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No end in sight as pandemic continues to hit markets  Everyone in farming has their eyes on international markets as covid-19 continues to play havoc with eating habits. Dairy commodity prices took a bit of a dive this week, with whole milk powder down more than 7%.
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Analysts reckon buyers want to keep stock on hand but if that stock isn’t bought by consumers, prices could drop.

International demand for lamb is also weaker, though good stock weights and a decent winter has meant farmers are still getting good money at the yards.

Predicting the future right now is nigh on impossible with new developments putting a stick in the spokes every day it seems.

All farmers can do is control what they can, hope processors and marketers make decisions with clear eyes and hope for the best.

Bryan Gibson

 

 

Lamb weight not demand driving prices

South Island lamb supply is tight but while seasonal procurement pressure may be enough to see marginal price lifts in some regions, weak export markets are keeping a cap on prices.

 

Feds wary of water plan changes

Federated Farmers are concerned the Government’s new laws around freshwater management will mean a reset for regional councils’ own water plan changes across New Zealand.

 

T&G Global see substantial growth

T&G Global increased revenue by 20% and operating profit by 300% in the first-half results for the six months to June 30.

 

Wool growers to benefit from NZM, Cavalier deal

A partnership between the New Zealand Merino Company (NZM) and Cavalier Bremworth will deliver $5 million to NZ strong wool growers over the next three years.

 

GDT falls as covid ‘spooks dairy market’

Global Dairy Trade prices at the first August auction suffered a 5% fall in the price index when questions were asked about the stability of Chinese demand for dairy products.

 

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