August 21, 2025 • 38 mins
Jamie Mackay talks to Kelvin Wickham, Jason Te Brake, Richard Dawkins, Chris Russell, and Miles Hurrell.
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Speaker 1 (00:00):
Catch all the latest from the land. It's The Country
Podcast with Jamie McKay.
Speaker 2 (00:06):
Thanks to Brent.
Speaker 1 (00:07):
You're specialist in John Deer construction equipment, bow in my Truck,
founder post Monkey.
Speaker 3 (00:22):
And a here of past in Poland name Get a
New Zealand and to welcome to the Country. The show
is brought to you by Branton. The show is coming
to you today from our tol Wronger studios. I'm Jamie
McKay by the way, and I'm up here for a
fundraiser tonight for the Topocki Rugby Club with Shane Jones.
Shane Jones Unplugged, Unleashed. I don't think Chatham House Rules
(00:45):
will come and to play it all. Looking forward to
that one. But before we do that, we've got a
day of chief executives today on The Country. I thought
I'm up in the Bay plenty of mars will get
a couple of the local chief executives and as fate
would have it, they've just had their annual results and
annual forecasts coming out, so we're going to be talking
to Calvin Wickham. He's in the studio steering down the
(01:06):
barrel at me. He's the chief executive of Balance we'll
have a look at their annual results and what the
hell's happening at CAPERNI Jason to break is the chief
executive of Zespery. Really good forecast for the twenty five
to twenty six season from him, And of course the
big story today came from Fonterra. We'll have chief executive
Miles Hurrel on the show at about quarter to one.
(01:30):
They're going to sell. I guess we knew this was coming.
They're selling. They've confirmed a sale of their consumer and
associated businesses to Lactalis for three point eight four five
billion dollars, subject of course to Fonterra farmer shareholder approval.
But Calvin Wickham, chief executive of Balance, I'll start with you,
(01:53):
they are going to hand out, When I say handout,
payback whatever one we want to call it, a tax
free capital of two dollars per share. Now, I saw
your eyes light up at the prospect of all those
dairy farmers with all that money and a ten dollar
payout and they're really wanting to cook with gas. I
(02:13):
shouldn't mention gas to you, should I But it's going
to be good for the rural economy.
Speaker 4 (02:18):
Yeah, good afternoon, Jamie, absolutely. I think we're riding a
real wave of confidence now as it is really pleasing
to see how springs started off. And I suppose, subject
to the shareholder vote, that never two dollars of goes
out the a casual mink silas for those Fonterra farmers
and the rest of the sect beautiful to see.
Speaker 3 (02:36):
Well, I think it'll be a done deal. It's been
well signaled and Fonterra farmers have had about a year
to digest this one. As I said Myles Hurrell, coming
a wee bit later, you've come out with your annual
results this morning, and I guess that the eye catching
number was the eighty eight million dollar right down you've
had on your Capoony gas to your rear plant due
(02:57):
to the uncertain availability audibility of a New Zealand natural gas.
Speaker 4 (03:02):
Yes, and that is the frustrating, this important part, because
behind that number was a really good year. We had
a really good season, beautiful autumn. Underlying cash flow was strong,
we paid down debt, good good earnings before tax, but
then at the end of the year we had to
consider the Copoony asset. I think it's been well telegraphed
in New Zealand, the gas issues that we're facing all
of us, a number of industries, not alone and sitting there,
(03:25):
look at the future value of the asset. If you
haven't got gas, you can't get an income from it.
So the accounting the standards was to write that asset down.
Speaker 3 (03:34):
The Capoony urea plant was, or it used to be
in the good old days, a duel in the balanced crown.
Certain is it now a liability?
Speaker 4 (03:42):
That's not a liability, But I think if you look
back over the history, when you make money at Capoony
when you can manufacture locally for lower than the international price.
So it's had good years and it's had weaker years
as well. It's disappointing not to have that resilience of
night Sien production in New Zealand if we had to close,
But we're not looking to close at the moment. We've
just ridden the asset value down to zero and we're
(04:04):
still going asketball plant for a few months. We'en trying
not to. We're still in discussion for a three month
short term gas contract and then we might have to
look for a four month shut down.
Speaker 3 (04:15):
So effectively we could end up importing all of our
area could.
Speaker 4 (04:19):
End up putting all of our nitrogen yip that supports
our agriculture business. That's a potential outlook here.
Speaker 3 (04:24):
And I know that Greenpeace don't like nitrogen, don't like
it one, but the New Zealand primary sector, the pastoral
part of it anyhow, is so dependent on nitrogen fertilizer.
And I remember hearing a fact that nitrogen fertilizer effectively
feed something like half of the world's population.
Speaker 4 (04:42):
I think, yeah, motion is critical to feed the world. Look,
we can import, but it would be good to have
some resilience here. So we are working still on plans
for future night gen production in New Zealand. We had
been thinking of post gas and when I started in
the role in less than two years ago, I was
told no problem gas would hit a twenty thirty five
twenty four. Well we're here, we own twenty twenty five
facing issue that's really just rapidly come towards us as
(05:04):
a country. But we are thinking of what we can
do post gas. How do you produce nights in New Zealand.
In the meantime we'll cover with imports, not just so
u rare. Of course, there's all the other forms of
knights DAP and other products these days as well.
Speaker 3 (05:17):
Maybe the White Knight to come and to save you
was going to be into Pocky tonight. Shane Jones Drill
Baby Drill.
Speaker 4 (05:23):
Will be supportive of initiatives to have more gas. We
think it's the transition fuel. And for Shane at least
he's standing out there and looking to try and make
a difference.
Speaker 5 (05:32):
Hey.
Speaker 3 (05:33):
The one thing and I used to be a shareholder
of Balance or it's what its predecessors were. I think
it was the Southland co Operative Fertilizer Company or something
back in the eighties when I was a young farmer.
We always used to look forward to our rebate on
our shares. No rebate this year.
Speaker 4 (05:51):
No rebat this year. I mean at the end the
board looked, had a hard look at it. The underlying
operating performance was good. But when you take an eighty
eight million dollar and hem and on your gases putting
thing was doe to hold the funds and the balance
sheet for the uncertainty head and keep the strong balanceingt.
Speaker 3 (06:06):
Nominal share value for balanced shares is nine dollars. And
we've got another big agricultural or big primary sector company,
the Alliance Group which is going through the process of
well getting in some recapitalization basically, but for shares bought
in the nineteen eighties or the nineteen seventies for a dollar,
they might be worth a dollar twenty six if you're lucky.
(06:28):
So I guess you're getting some capital growth with your
balanced shares. At least we have.
Speaker 4 (06:33):
Done, I mean the sheer value. We went up a
couple of seasons ago from eight ten to nine dollars,
and even with the impairments of that, it's unimpacted. You
know that the balance sheet is strong, equity position is good.
We paid that debt, so there's no change to that
shar price, and we've still got an overage in terms
of the net acid value backing of those shares.
Speaker 3 (06:49):
How good is this season going to be for pastoral farmers?
Speaker 4 (06:52):
Ah, we think it's going to be great. We're really
looking forward to it. Springs already firing up. We've already
seen parts of the sectors like some catch up if
you like in sheep and beef, are your top dressings
of after a good start? Dearies looking good. So we're confident.
I think I'm sort of I wouldn't be surprised if
we're ten percent up in spring versus last year.
Speaker 3 (07:08):
Hey, when do you move out of your Mount MONGANII premises.
Speaker 4 (07:11):
We're going to stay there in terms of the National
support office, but the factory will close around November and
we'll move to a distribution hub from there. So what
are you doing with the land while we still need
it for the storage and distribution for the next period.
Speaker 3 (07:24):
For sure you're sitting on a gold mine there.
Speaker 4 (07:27):
Well, we still need it for storage and distribution. It
it's close to the port, bring the product, the costs
from the port and distribute it out to the heartland
and the Waycatto up north. So I think we'll be
there for a while yet.
Speaker 3 (07:37):
Okay, Calvin Weck and thank you very much for taking
time out of your busy day to come in and
see us alive in the Taronga studio. It's good to
catch up again because you and I haven't really been
face to face since the old days. And this must
be ten or fifteen years ago when I used to
ring you up every second Wednesday and ask you about
the Fonterra GDT auction.
Speaker 4 (07:55):
These were a few years ago now, but look, it's
part of the landscape. Fan. But like yourself, Jamie, part
of the landscape there.
Speaker 3 (08:01):
Well for how much longer? That is the big question.
Hey Calvin, thank you very much for your time. It's
twelve fifteen here on the country. Just want to give
a shout out. I'll give a shout out to Andy
McDonald's who's my favorite producer in Auckland. He always does
a great job of getting me to air. Although I
did see Kerry playing around and here before, and I
think she was more technically inert than I was. But
(08:23):
between the two of us we've managed to get our
shows to air. Great to catch up with her as well.
But a bit of a shout out to Rick Broughton
and Auckland. His daughter in law, Erica works here in
the Taronga office. I think she might be working for
the Bay of plenty times anyhow, Erica said, Rick's a
big fan Rick. Every listener is a prisoner. Thank you
(08:43):
very much for listening, and I hope you're having a
great day. Up next we might Andy, we will try
and go to Jason to break I've got Richard Dawkins
from Federated Farmers who wrote a really interesting piece on
strong Wall. It's the one thing that's not going very
well at the moment along with arable. Actually, just on
the arable thing, Calvin, that is a bit of an
(09:04):
issue for you guys at balance.
Speaker 4 (09:07):
It depends on which part of the arable sector in
the room. But it's not looking as great as well.
Speaker 3 (09:10):
No, no, so like if that was humming, that would
be better for fertilizer, but those guys have got no choice.
They've got to use it in the hour.
Speaker 4 (09:17):
They used some years. But it's just how much easter
plant he might go in if the outlook was a
bit better.
Speaker 3 (09:21):
Yeah, okay, so there we go. So we'll have you
to Jason to break It is a day of chief
executives Miles Hurrile Awee, but later Richard Dawkins from Federated
Farmers and hopefully if I can find him our ossie
correspondent Chris Russell. We missed him yesterday. We'll try and
get them today. Back after the break dream. I'm twenty
(09:46):
after twelve, going country on the country on a Friday.
Love it, Thank you, Andy. It is a day of
chief executives. Second to the batter's box, as the chief
executive of ZESPRI couldn't make it into the studio here
in Taranga's very very busy man. But Jason to break,
I'm going to Tapoki tonight with the Kiwi fruit capital
(10:07):
of the country, and I'm hoping that all those wealthy
Kiwi fruit farmers out there all bit up big time
tonight on the charity auction, and so they should with
record returns. What do you reckon?
Speaker 5 (10:18):
Oh, well, you hope hopefully you have a good run
then and look, you know we just had our in
your general meeting yesterday, and look the mood is reasonably
positive and also you know, quite calm out there. So
if that works out well for you.
Speaker 3 (10:33):
The let's have a look you're saying the latest forecast
reflects the strong start of the season with average per
hect their returns forecast to reach record levels for all
categories other than sun gold and organic green. Why are
they dragging the chain?
Speaker 5 (10:50):
So it's a couple of things. One organic green, our
portray returns are actually up, but our the yield off
orchard is actually a little bit late, so so it's
just more of a yield impact this year for sun gold. Look,
we're carrying a little bit of risk provisions at the moment,
so we hope that we are able to sort of
realize that. But just China is a little bit sluggish
(11:13):
right now, and so we're just looking how we sort
of move a bit of fruit into other markets just
to sort of reduce the risk we've got in China
at the moment for a slightly slower level of consumption.
Speaker 3 (11:23):
Organic grower is getting rewarded for the extra effort and
cost it does take to grow stuff organically.
Speaker 5 (11:30):
Yeah, they are. Actually they're getting a reasonably good list
on both on a per hectare basis, but also on
a per tray basis over conventional as well. And we've
seen quite good growth and organic, particularly out of North
America where there is a desire for that, plus also
some of our European markets as well to pay good
value for our organic fruit.
Speaker 3 (11:52):
Now you're talking about ten year plans. Your previous ten
year plan targeted a four point five billion in sales
by twenty twenty five. You have fulfilled that. The next
one to knock off is by twenty thirty five for
KEYW Fruit to be the world's healthiest fruit brand and
(12:12):
Jason to break chief executive of ZESPRI. I see no
reason why that shouldn't happen. You're probably there now, aren't you.
Speaker 5 (12:19):
Well, what we're looking at is how do we create
a globally iconic brand that's built on natural nutrition. So
we need to have the best products that are healthy.
We need to make sure we've got a healthy brand
and a healthy supply chain and sale the marketing team,
plus being able to deliver healthy returns back to growers.
So look, we are looking how we continue to stretch
(12:40):
ourselves to be globally iconic and the globally leading and
natural nutrition. So I think we've still got work to
do over the next decade to keep ourselves stretched, but
that's certainly what we're striving for now.
Speaker 3 (12:53):
I was reading something this morning about key We fruit
being very good for the digestive system.
Speaker 5 (13:00):
Actually, just in the last week or so, we've actually
had a health claim that's been approved by the European
Commission and it's actually the first time any fresh fruit
ever has been given a health claim by the European Union.
So our green Kiwi fruit has obviously been given that
approval for digestive health, which is really good. It's been
(13:23):
We've already seeing a positive movement on demand and requests
for our product as well on the back of that.
Speaker 3 (13:29):
See me, I've transitioned keyw fruit wise. This is Jason
from the Green. I used to love the green, but
now I'm sold solid on the gold. But I heard
news talk said these health health freaking And I say
that in the nicest possible way. Mike Hosking talking to you.
Mike's very particular about his health, and he was saying
(13:51):
that green is better for you than gold.
Speaker 5 (13:54):
Yeah, well, I mean the good thing is that we
actually look at what is the opportunity that we can
give to consumers. So green is good for digestive health,
gold is good for vitamin C and vitality. Our ruby
read obviously, which we continue to develop and grow, very
good around novelty and bringing young consumers into the category.
(14:14):
And we're actually looking at further KII through products that
we're breeding for for different requirements that consumers will need
around their health going forward. Yeah, there's a lot of
interesting things in this space as well.
Speaker 3 (14:27):
Let's just finish on Mother Nature as long as the
weather plays ball, because you've got through the winter okay
and hasn't been major flooding or disasters like Gabrielle. So
like in Tapooki, there was talk that with climate change,
it mightn't be cold enough for the bud set or
whatever you call it in Kiwi fruit. You'll have to
excuse my ignorance there. Did the winter treat you?
Speaker 5 (14:49):
Well? Yeah, we got a amount of winter chill towards
the end, so early winter was a little bit mild,
a little bit wet, good winter chill later on. There's
good labor out there at the moment, so a lot
of the work on orchard's being done at the moment.
So I think at the moment, looking at still for
the early days, that things are setting up for our
(15:10):
reasonable production season.
Speaker 3 (15:11):
Good on youre Jason to break. Thanks for some of
your time today. I know you're a busy man.
Speaker 5 (15:16):
Awesome, Thank you very much.
Speaker 3 (15:17):
There we go, Chief Executive of Zesbury twenty five after twelve.
It is a day of chief executives. Miles Hurrell on
the announcement today that Fonterra's agreed to sell its consumer
and associated businesses to lack Talis, the French dairy giant.
I think they're French, aren't they. We'll find out in
a minute for three point eight four or five billion dollars.
(15:40):
But up next we're heading down to Marlborough. Down from
where I am and to how wrong today? Richard Dawkins
Federated Farmers New Meat and Wool Chair. He's written the
really interesting piece on strong Wall. It's dragging the chain
comparatively compared to the rest of the primary sector. But
Richard hasn't given up hope he's next on the country.
When twenty eight after twelve heading down the road to Marlborough,
(16:10):
Richard Dawkins Federated Farmers Meat and Wheelchair took over from
Toby Williams. Richard, you still got to save our sheep
campaign going strong. That was sort of Toby's baby.
Speaker 2 (16:22):
Yeah, thanks for having me, Jamie. Yet, look, we do
and obviously very relevant at the moment. We're seeking changes
to that Climate Change Amendment Bill which would certainly help
the bill achieve what it was intended to do.
Speaker 3 (16:34):
Yeah, carbon farming is still very much an issue for
you guys.
Speaker 2 (16:38):
Yeah very much though.
Speaker 3 (16:39):
Ian.
Speaker 2 (16:39):
Look, we really appreciate the intent of the bill from
the government. You know, it was put under urgency. They
obviously understand the issue, but we're just concerned it misses
the marker wee bit you're.
Speaker 3 (16:49):
Wandering at the moment. I think class is one to five.
You can put twenty are no more than twenty five
percent of your plantings into the ets no protection or
sick classes six and seven where most of the extents
of sheep and beef properties that have little or no protection.
Speaker 2 (17:06):
Yeah, so there's a fifteen thousand hectier lottery for class six.
So I'm really curious about how that would work in reality.
But then as you say no protection on class seven,
and eighty eight percent of those carbon conversions were actually
on classes six and seven. So yeah, still a real concern.
Speaker 3 (17:26):
You write an interesting Columnent's on the Herald on the
Country website about wall. You haven't given up hope. A
lot of farmers have to be fair, Richard. And you
wrote in the early nineteen eighties, wall contributed sixty five
percent of our farm's sheep income. This is your farm
in Marlborough. Woll was king and sheep were a true
(17:47):
dual purpose breed. Today and this is a damning figure.
Strong Wall makes up just one to two percent of
gross farm income. That's a big fall from grace.
Speaker 2 (17:58):
Yeah, that's right. I mean the great benefit of sheep
is they are a dual purpose animal, right, and when
we're seeing beef returns as they are, although I received
a LAMB schedule which was pretty promising this morning. But yeah,
I mean, if you're a single purpose animal, beefe's are
probably going to bush sheep out. So yeah, there's some
great initiatives going on between industry and government. So we're
(18:21):
just hosting these workshops, four of them down Otago and
Southland and just trying to get a bit of positivity
going Jamie.
Speaker 3 (18:28):
Yeah, well, positively is one thing being realistic to another.
If I had a dollar for every time someone had
an idea to save strong wool, I would be a
wealthy man.
Speaker 6 (18:38):
Yeah.
Speaker 2 (18:38):
Absolutely, And look I can't speak on behalf of these
ladies and gentlemen who are doing this work, but look
they have been investing time and money into these initiatives,
so let's go along and at least give it a chance.
Speaker 6 (18:53):
Right.
Speaker 3 (18:53):
Well, we had the example this week of the tennis balls,
which is a good story. At the US Open, they've
been using New Zealand strong cross bread well for ages.
But I've always been on the mind Richard that we
need to find some other really main basic purpose for
strong crossbred wall other than carpets.
Speaker 2 (19:10):
Yeah, that's right, it's that valuable end use, but also
having a supply chain that focuses on returning that value
to the farmer and having it sustainable for the farmer
as well as the end user.
Speaker 3 (19:22):
Do you think we should go back to like a
wall Levy?
Speaker 2 (19:27):
Oh yes, Look, I mean I'm hearing murmurings of potentially
something like that could be in the works. And look,
I represent my Meat and Wall Council twenty four twenty
four people who then represent our twelve thousand members, and
we actually haven't had that discussion. But look at the moment,
industry groups and government are investing a lot of money
(19:49):
into this stuff, and at some point I assume that
tap will be turned off.
Speaker 3 (19:54):
How's things in Marlboro, Because I know you got very
wet there for a while, not quite as wet as
they did over on the other side of the hills
in the Tasman Nelson region, but you had a truckload
of rain. It's probably going to set you guys up
pretty well for spring.
Speaker 2 (20:09):
Yeah. Look, we certainly feel for our friends over the hill,
but like you say, Jamie, it was very wet just
in the lead up to Lambing, but since then we've
had beautiful cold frosty mornings and nice sunny days. So
we've only actually lost one lamb due to adverse weather
this season, which is certainly a record for us.
Speaker 3 (20:28):
Good stuff. Happy days for the sheep farmers in Marlborough.
Richard Dawkins, thanks for your time from Federated Farmers.
Speaker 2 (20:33):
No problems.
Speaker 5 (20:34):
Thanks Jan good on you.
Speaker 3 (20:35):
Twenty eight away from twelve you're with the country. Coming
to you today from our Twonga studios, looking right out
on Cameron Road, the main drag here in tower up
after the break. Michelle is still doing the hard yards
for us at Dunedin HQ. She'll have rural news. I've
got no idea what's in it. And Andy McDonald I
(20:58):
don't know whether he realizes this, but he's doing sport.
Before the end of the hour, Chris Russell or Elsie
correspondent and the other chief executive, Miles Hurrel announcing the
sale of the consumer businesses to Lactalis for three point
eight four or five billion. That's a lot of money.
After the break, NASA are we making but.
Speaker 6 (21:21):
That's taken our big um Ah.
Speaker 3 (21:25):
You can't beat Fred Dagg. There's a new Fred Dag
or John Clark doco coming up. I think we're going
to have an interview with someone there. Michelle's working on
that once. She sent me a couple of texts rural
news and a tick indication of strength and the beef
market at present. Some lines of yeling beef stairs sold
for over seven dollars per kilogram live weight at Castle
(21:45):
Rock yesterday. That's a Northern Southland selling center. That's huge money.
Jamie Fonterra selling its brands to France will inevitably increase
costs for New Zealand consumers of butter, ice cream, etcetera.
Where's the comment from Winston and Shane says Don, While
I'll ask Shane tonight to the Topookee Rugby Club fundraiser.
(22:07):
Here is Michelle Watt with the latest and Rural News.
Speaker 1 (22:10):
The country's rural news with CULD Cadet, New Zealand's leading
right on lawn bower bread, visit steel for dot cott
zim for your local stargist.
Speaker 7 (22:20):
And you, Jamie, you got to at first. But in
Rural News today. The official New Zealand trailer for Not
Only Fred dag actually launches today and it's going to
give audiences their first look at the documentary, which has
been written and directed by John Clark's daughter, Lauren Clark.
The film opens in New Zealand cinemas on Friday, the
twenty sixth of December. So we've got a little bit
of a weight. But fred Dag a massive legend both
(22:42):
in New Zealand and Australia. Had lots of different characters
that he played. And that gun boot song I remember
that as a young child. Actually, I think I had
learned to sing that at school, Jamie. So yeah, it
should be great. I'm looking forward to that.
Speaker 3 (22:55):
Yeah. Absolutely. That's Michelle with Rural News. Here's what's his name,
Andy McDonald with Sports News, and we've got a new
All Black number eight. Andy.
Speaker 1 (23:05):
Sports were an ath Goo Kiwi to the bone since
nineteen oh four.
Speaker 8 (23:10):
Yes, Jamie, we do in sports. Simon Parker. He's been
named in the All Blacks squad at number eight to
play the Second Test against Argentina. More player movement in
Netble's A and Z Premiership. One of the country's top
shooters on the move. Silver Fern's squad member Martina Salmon
is a seventh player to depart the Mainland Tactics Championship
winning roster. Not yet confirmed where she'll play next year.
(23:31):
Our twenty one year old fund shooter Amelia Walmsley has
signed on with the Auckland based Stars, becoming the fifth
starting player to depart the Central Pulse and the Football Funds.
They've locked in a Glamor fixture against the United States
in Kansas City in October. That's sports, Jamie.
Speaker 3 (23:46):
Yeah, and I feel sorry for Donald la Fagan or
donnad Wilkins. She is these days, of course. And Donna
did a great job with the tactics that they won
the A and Z Premiership or whatever the Pinnacle Netball competition.
Will she have any netball players left?
Speaker 8 (23:58):
The coach, Andy, I've got to have ten on ten
ten match day squad members. They've lost seven, so that
they'll need they'll need to find some players from somewhere.
But the good news about about Salmon and Warmsey is
at least they're not well grant. I don't know about someone,
but Warmsey at least she's not going over to Australia,
so we're keeping some players on New Zealand chores at least.
Speaker 3 (24:19):
Hey, and what do you make of the Simon Parker, Oh, fantastic,
A big bit of beef that's what we need in
the All Blacks, isn't it what he had?
Speaker 8 (24:26):
A hell of a middlely a bit of a bolter though,
but a hell of a super rugby season. Oh yeah,
I'm stoked to see in there. Actually, it's a fantastic
a fantastic selection as well. And just those slight little
tweaks that are like, I like what Rais is doing
to sort of keep that consistency, but also blood and
guys without.
Speaker 3 (24:44):
Well, I like Rais are much better in twenty five
than twenty four and twenty four he was just Ian
Foster two point zero with his selection, So now he's
putting his stamp on the team. Thanks Andy doing a
great job producing out of our Auckland studios. We're going
to take a break. On the other side, we're either
going to go with Miles Hurrell or Chris Russell, depending
(25:04):
on who we can get okay, So in fact we'll
ponder that during the break.
Speaker 2 (25:12):
Jimmy boys would good news you.
Speaker 8 (25:15):
Will never send Kara.
Speaker 3 (25:20):
Here's our Australian correspondent of long standing Chris Russell. And
all the years I've known Hi, which is more than
thirty now, he's well and truly been on the losing
end when it comes to the All Blacks up against
the Wallabies. I've lost count of how many bottles of
wine he owes me and has never paid me. Chris Russell,
do you think you're a bit of a chance this year?
Speaker 9 (25:41):
Look, I hesitate to be over confident about that. I've
done that before. I remember seeing this to Robbie Dean's
on a plane one year and him promising me that
I get some of those bottles of wines back when
I told him that how many I've lasted because he
hadn't performed yet and I never did. But you know,
we have had a fantastic big game last weekend. Joe
Schmidt has done a fantastic job. We've got a side
(26:04):
that seems to be disciplined and we're ranked number six
in the world now, which just sneaks us into the
World Cup thing where he does have another big side
in your group. If we beat them in Cape Town
on this weekend, then we will come up to number
three in the world. Then we've got Argentina and then
we've got Eden Park. So look on one life at
(26:26):
a time here. But I'm as excited as I've been
in recent years.
Speaker 3 (26:31):
Chris, you've poked the beer resci Arrasthmus. Not too pleased.
He's brought back the bomb squad, although at sea level
it should favor Australia relatively compared to the high volt.
But I wouldn't hold my breath waiting for a second
Wallaby one. But good luck, you're going well. You've got
a great coach. A keiwalk have.
Speaker 9 (26:50):
Got a great coach. He's really I'm so sorry he's
moving on. But hopefully les Kiss is looking on from
the sideline saying he's got a big act to follow.
He's got a after Bradman and hopefully he's up to
the fast.
Speaker 3 (27:02):
Tell me about this new cotton gin in Northern West
Australia or Western Australia.
Speaker 9 (27:07):
Well, I think I've spoken to you before how cotton
looks like making a comeback in the Odd River and
up in the north of Western Australia. When the Order
of a scheme was first started up up there where
they trapped the waters of the Ord with this massive
lake argyle, it failed because the insects just loved that
tropical climate and the old bowl weavil.
Speaker 2 (27:29):
You know, they were.
Speaker 9 (27:29):
Having to spray that crop with this horrible endo sulfon,
which is an organo chlorine chemical, twice a day, whereas
at the worst down here they only sprayed about every
ten days. But since the advent of this BT cotton,
where they actually put the genes of a poisonous protein
into the leaf, poisonous to bowl evils, that is, and
therefore they don't need to do any spraying, it's made
(27:52):
a real comeback. And the other thing that's happened up
there is that the pastoral leash rules in the Northern
Territory say that they can't use underground water for growing crops.
They can only use it for producing stop feed. And
somehow they've comm the Northern Theratory government in being convinced
that they're growing cotton for the seed and not for
the cotton, which is a ludicrous idea, but nothing there's
(28:15):
nothing wrong with a seed, of course, but the money
is in the cotton. But nonetheless they're doing it. They're
growing the cotton and on the Order River as well,
not just on the past releases. So they've now built
at last the cotton gin in Cananara, sixty million dollar operation.
Cotton gins are expensive and they've been looking for one
for ages, but they could never guarantee the supply of cotton,
(28:37):
so I want to buy it or build it. They've
now built this cotton gin. It means instead of sending
the cotton either sending it full of its trash and
everything the China, or selling it over to the East Coast,
which is also very expensive, they can now gin it
up there and produce the cotton and then just ship
the cotton out. So it is a massive, a massive
(28:59):
change from the norse up there. They reckon it will
generate more than a thousand jobs in Cannanaro the next decade,
and fingers crossed that it'll be successful and we'll have
a whole new business that last will make some really
good money out of that amazing ORed River scheme up there.
Speaker 3 (29:15):
Okay, I've only got time for one more story. Unfortunately,
Australian coffee comes into its own as global coffee prices spike.
And I wasn't aware, Chris learning something every day when
I chat to you, that you had a coffee industry.
Speaker 9 (29:28):
Coffee industry has been a boutique industry up in North
Queensland on the Athen Tablelands for some time, Jamie, And
at last I think with coffee prices from overseas going
from six dollars a kilo to twenty dollars a kilo
as the Brazilian market collapsed and various other disasters have
taken over the coffee industry overseas. Now it's becoming more
(29:51):
mainstream and more coffee shops in Australia are now selling
Australian coffee, which is fine coffee. It was just expensive.
So it's another little bootique industry which will certainly grow
into something a bit more substantial up there. I hope
it carries on, people get a place for it and
we're able to support our own crops.
Speaker 3 (30:08):
Jomie Well, Chris Russell, I've learned a lot about cotton
and coffee. Good luck to the Wallabies in Cape Town.
Speaker 9 (30:15):
No worries, Thanks Jomie.
Speaker 3 (30:17):
Thank you Chris. It's going to be a great weekend
of footy. But mind you, the absolute highlight of the
weekend came. It's not even the weekend. Weekday came last night.
I'm in the Bay of Plenty. Guess who beat the
Steamers last night? The Southland Stags. How good was that?
Before I forget a message from our friends at farm
Strong when life gets busy on the farm. Look after
(30:40):
the top two inches. That can be as important as
looking after your stock and pasture. For free tools and
resources on how to manage pressure and look after the
top paddock, boost your mind and keep it well. Head
to farm strong the website this weekend. That's farmstrong dot
co dot nzen. We're going to wrap the Country from
the Taronga Studios with Miles Hurrel, chief executive of Fonterra.
(31:08):
Lad welcome back to the country. Thank you Brandon, third
of three chief executives today you've heard from Calvin Wickham,
Allen Sagra Nutrients, Jason to Brak Zesprea. This man is
full of good news. He is the chief executive of Fonterra,
our biggest farming company and cooperative. Miles Hurrell, you've agreed
(31:28):
to sell your consumer and associated businesses to lack Talis
for three point eight four or five billion dollars. Is
this going to get universal farmer support? Do you reckon?
Speaker 6 (31:39):
Miles Jamie? Well, I mean the headline number you talk to.
It's a pretty good result. Team have been working around
the clock on this for a number of months now,
so I know we're at We'll take it to a
farm at the end of October. The lultimate you make
their own calls, but you know the fact we're out
there talking about giving two dollars a yearback, you know,
three point two billion dollars of that three point eight
(32:00):
I think that gets some pretty good support from our fartment.
Speaker 3 (32:03):
You're dangling a very big carrot in front of the
dairy farmers there.
Speaker 6 (32:06):
Miles, Well, I wouldn't call it a carrot. I mean, ultimately,
it's their capital, so we just think let's do the
right thing with it. From their perspective, they've invested in
this business for a number of years and you know,
as we've talked about, it hasn't given the return over
the long term that we want that consumer business, So
the right thing to do is to give it back.
Speaker 3 (32:24):
Is there an argument, and we had a text earlier
in the shows suggesting it might make dairy products more
expensive for New Zealand consumers. Any logic to that argument.
Speaker 6 (32:35):
Hard to see that logic to be fair. I mean,
the competitive environment doesn't change, you know, effectively removing us
from the consumer market and put in another player, So
I wouldn't see that changing at all. If anything, you'd
see someone like a luck the least that could potentially
bring in some other international brands that they own into
the New Diyaland market that they may see an opportunity for.
So I wouldn't see any change in the New Zealand
(32:57):
competitive environment internationally.
Speaker 5 (33:00):
Yeah.
Speaker 6 (33:00):
I think it's a great new story that they'll grow.
I think they'll take to another level that we haven't
been able to do internally, and as a result, will
be supplying the additional ingredients and fresh milk to support
their growth.
Speaker 5 (33:09):
Yeah.
Speaker 3 (33:10):
Well, that's sort of the key part of the agreement,
I guess, the fact that you've locked in the supply
from the Fonterra farmer.
Speaker 6 (33:15):
Shareholders exactly that and that was a key part, not
not just for our own farmercyholders, because they want to
see their milk go into those brands. You know that
that was an important conversation with people with them for
quite some time. But at the same time it was
critical for lack deletion of the conversations we've had with them.
They understand the importance of the brands and the strength
of those brands. They understand that the manufacturing factories that
(33:38):
they're buying, but at the same time they also know
their worthless that you haven't got raw material to go
through it and the good stuff their farmers do. It's
critical to that. So no, that's a great one one
for everyone. I think of this one.
Speaker 3 (33:50):
How long does that supply agreement last?
Speaker 6 (33:52):
For well, they very easy to appreciate. You know, there's
fresh milk at one of the spectrum, which which goes
into a sort of an anchor two leader, and then
there's a whole of ingredients that might go into some
specially specialty products, so they vary across the board. You know,
the fresh milk want to give you an idea of
sort of ten years of minimum starting points. So that
should give a good indication to our shielders that we
were at.
Speaker 3 (34:13):
What's the process from here on in to get this
rubber stamped or rings.
Speaker 6 (34:17):
Yeah, so thirty towards the end of OXTO, I think
thirty October, we're looking at this point of a farmer vote.
There will be we've got our annual results coming out
towards in the September, we'll go through and our conversations
with farmers through that period towards the end of October
for that vote, there's obviously regulatory approvals that are required.
So with that, you know competition tribunals internationally, whether it
(34:39):
be in Australia not not here in New Zealand from
that perspective, and then there's the sort of OO equivalents.
They exist both here Australia, I think, Saudi and Kuwait.
I got a couple of others, so that those are
formal process we need to go through. At the end
of the day, we don't see any major hiccups with that.
That's just a time process, we believe, so hopefully by
(35:00):
midway through Canada twenty six will be able to close
us out.
Speaker 3 (35:04):
Yesterday you came out and announced ten dollars fifteen that's
the new midpoint, and you've narrowed it right down, so
that's we can probably call that locked and loaded for
twenty four twenty five, perhaps more interestingly twenty five twenty
six ten dollars. It's pretty rock solid at the moment,
is it?
Speaker 6 (35:22):
Well? As good as you remember. We moved away from
that midpoint for the current season, which which really reflecting
we saw more downside risk on the back of the
introduction of tariff in the US and the sort of
global uncertainty. We've knocked the bottom of that range off now,
which you know, we've kept the ten dollars there as
our position, but we've taken that low end off because
we've had confidence in the early part of our season.
(35:44):
Milk is starting to flow now, so we obviously need
to see a little bit more of that soul before
we have any confidence in doing anything further. But the
last two or three Gendt events gives a pretty good
indication that it's pretty solid out there.
Speaker 3 (35:57):
You mentioned the tariffs. How's Trump treating you? Well?
Speaker 6 (36:03):
I mean, look, it's it's not helpful for we think
we can say that. I mean, you know, ten percent
was disruptive in a bit of a pain in the
neck if I could say that, you know, most of
that's been passed on through our customers and consumers in
those in those markets. So I think the US economy
will feel the pain, you know, fifteen percent and you
start to get away from from being on par with others.
That for us, as you start to get a bit
(36:25):
we get a bit grumpy at that level. But you
know that said, you know, where we can closely with
our customers up there, they understand it. It's more of
a political issue on their side more than more than us.
But you know, I see minister mclays up there. Let's
see if he can rattle a few cages. But you know,
we're diversified enough. We'll go where we get the best return.
And if that means the US slows down a little
bit for us and we pops the products to other markets,
(36:47):
that's what we're good at.
Speaker 3 (36:49):
Okay. Just finally, the other number that came out yesterday
was the earnings guidance remained unchanged. It's sixty five to
seventy five cents per share potentially. I mean, I'm I
just threw it out there. Could there be a fifty
cent dividend for fonterrash a Farmer shareholders this year along
with their two bucks per year?
Speaker 5 (37:08):
Yeah?
Speaker 6 (37:08):
Well, who knows. So twenty third or twenty fourth of
September I think is today we go to the board
for that. So we'll do the numbers. I mean, the
balance sheets in a really strong position even the side
of this announcement today. The earnings look look strong, as
you say, and the gardens of sixty five or seventy
five cents, So you know, there's a good time to
be a Ta Bear shiholder. And yeah you have to
(37:30):
wait till the end of September.
Speaker 3 (37:31):
Jamien Miles Harrel, thank you very much for your time.
I appreciate you're a busy man, and the time of
the other chief executives who turned up on the show today. Well,
that's us done and dusted from TALONGA. I'm off to
Tapooki tonight. Looking forward to rubbing it into John Cameron JC,
a man who scored two tries against the Lions in
nineteen eighty three. Forget about that, JC, The Stags beat
(37:54):
the Steamers. What a great day, What a great night
it was last night. Catch you back on Monday.
Speaker 1 (38:00):
Catch all the latest from the land. It's the Country
podcast with Jamie MacKaye thanks to Brent starkest of the
leading agriculture brands.
Catch all the latest from the land. It's The Country
Podcast with Jamie McKay.
Speaker 2 (00:06):
Thanks to Brent.
Speaker 1 (00:07):
You're specialist in John Deer construction equipment, bow in my Truck,
founder post Monkey.
Speaker 3 (00:22):
And a here of past in Poland name Get a
New Zealand and to welcome to the Country. The show
is brought to you by Branton. The show is coming
to you today from our tol Wronger studios. I'm Jamie
McKay by the way, and I'm up here for a
fundraiser tonight for the Topocki Rugby Club with Shane Jones.
Shane Jones Unplugged, Unleashed. I don't think Chatham House Rules
(00:45):
will come and to play it all. Looking forward to
that one. But before we do that, we've got a
day of chief executives today on The Country. I thought
I'm up in the Bay plenty of mars will get
a couple of the local chief executives and as fate
would have it, they've just had their annual results and
annual forecasts coming out, so we're going to be talking
to Calvin Wickham. He's in the studio steering down the
(01:06):
barrel at me. He's the chief executive of Balance we'll
have a look at their annual results and what the
hell's happening at CAPERNI Jason to break is the chief
executive of Zespery. Really good forecast for the twenty five
to twenty six season from him, And of course the
big story today came from Fonterra. We'll have chief executive
Miles Hurrel on the show at about quarter to one.
(01:30):
They're going to sell. I guess we knew this was coming.
They're selling. They've confirmed a sale of their consumer and
associated businesses to Lactalis for three point eight four five
billion dollars, subject of course to Fonterra farmer shareholder approval.
But Calvin Wickham, chief executive of Balance, I'll start with you,
(01:53):
they are going to hand out, When I say handout,
payback whatever one we want to call it, a tax
free capital of two dollars per share. Now, I saw
your eyes light up at the prospect of all those
dairy farmers with all that money and a ten dollar
payout and they're really wanting to cook with gas. I
(02:13):
shouldn't mention gas to you, should I But it's going
to be good for the rural economy.
Speaker 4 (02:18):
Yeah, good afternoon, Jamie, absolutely. I think we're riding a
real wave of confidence now as it is really pleasing
to see how springs started off. And I suppose, subject
to the shareholder vote, that never two dollars of goes
out the a casual mink silas for those Fonterra farmers
and the rest of the sect beautiful to see.
Speaker 3 (02:36):
Well, I think it'll be a done deal. It's been
well signaled and Fonterra farmers have had about a year
to digest this one. As I said Myles Hurrell, coming
a wee bit later, you've come out with your annual
results this morning, and I guess that the eye catching
number was the eighty eight million dollar right down you've
had on your Capoony gas to your rear plant due
(02:57):
to the uncertain availability audibility of a New Zealand natural gas.
Speaker 4 (03:02):
Yes, and that is the frustrating, this important part, because
behind that number was a really good year. We had
a really good season, beautiful autumn. Underlying cash flow was strong,
we paid down debt, good good earnings before tax, but
then at the end of the year we had to
consider the Copoony asset. I think it's been well telegraphed
in New Zealand, the gas issues that we're facing all
of us, a number of industries, not alone and sitting there,
(03:25):
look at the future value of the asset. If you
haven't got gas, you can't get an income from it.
So the accounting the standards was to write that asset down.
Speaker 3 (03:34):
The Capoony urea plant was, or it used to be
in the good old days, a duel in the balanced crown.
Certain is it now a liability?
Speaker 4 (03:42):
That's not a liability, But I think if you look
back over the history, when you make money at Capoony
when you can manufacture locally for lower than the international price.
So it's had good years and it's had weaker years
as well. It's disappointing not to have that resilience of
night Sien production in New Zealand if we had to close,
But we're not looking to close at the moment. We've
just ridden the asset value down to zero and we're
(04:04):
still going asketball plant for a few months. We'en trying
not to. We're still in discussion for a three month
short term gas contract and then we might have to
look for a four month shut down.
Speaker 3 (04:15):
So effectively we could end up importing all of our
area could.
Speaker 4 (04:19):
End up putting all of our nitrogen yip that supports
our agriculture business. That's a potential outlook here.
Speaker 3 (04:24):
And I know that Greenpeace don't like nitrogen, don't like
it one, but the New Zealand primary sector, the pastoral
part of it anyhow, is so dependent on nitrogen fertilizer.
And I remember hearing a fact that nitrogen fertilizer effectively
feed something like half of the world's population.
Speaker 4 (04:42):
I think, yeah, motion is critical to feed the world. Look,
we can import, but it would be good to have
some resilience here. So we are working still on plans
for future night gen production in New Zealand. We had
been thinking of post gas and when I started in
the role in less than two years ago, I was
told no problem gas would hit a twenty thirty five
twenty four. Well we're here, we own twenty twenty five
facing issue that's really just rapidly come towards us as
(05:04):
a country. But we are thinking of what we can
do post gas. How do you produce nights in New Zealand.
In the meantime we'll cover with imports, not just so
u rare. Of course, there's all the other forms of
knights DAP and other products these days as well.
Speaker 3 (05:17):
Maybe the White Knight to come and to save you
was going to be into Pocky tonight. Shane Jones Drill
Baby Drill.
Speaker 4 (05:23):
Will be supportive of initiatives to have more gas. We
think it's the transition fuel. And for Shane at least
he's standing out there and looking to try and make
a difference.
Speaker 5 (05:32):
Hey.
Speaker 3 (05:33):
The one thing and I used to be a shareholder
of Balance or it's what its predecessors were. I think
it was the Southland co Operative Fertilizer Company or something
back in the eighties when I was a young farmer.
We always used to look forward to our rebate on
our shares. No rebate this year.
Speaker 4 (05:51):
No rebat this year. I mean at the end the
board looked, had a hard look at it. The underlying
operating performance was good. But when you take an eighty
eight million dollar and hem and on your gases putting
thing was doe to hold the funds and the balance
sheet for the uncertainty head and keep the strong balanceingt.
Speaker 3 (06:06):
Nominal share value for balanced shares is nine dollars. And
we've got another big agricultural or big primary sector company,
the Alliance Group which is going through the process of
well getting in some recapitalization basically, but for shares bought
in the nineteen eighties or the nineteen seventies for a dollar,
they might be worth a dollar twenty six if you're lucky.
(06:28):
So I guess you're getting some capital growth with your
balanced shares. At least we have.
Speaker 4 (06:33):
Done, I mean the sheer value. We went up a
couple of seasons ago from eight ten to nine dollars,
and even with the impairments of that, it's unimpacted. You
know that the balance sheet is strong, equity position is good.
We paid that debt, so there's no change to that
shar price, and we've still got an overage in terms
of the net acid value backing of those shares.
Speaker 3 (06:49):
How good is this season going to be for pastoral farmers?
Speaker 4 (06:52):
Ah, we think it's going to be great. We're really
looking forward to it. Springs already firing up. We've already
seen parts of the sectors like some catch up if
you like in sheep and beef, are your top dressings
of after a good start? Dearies looking good. So we're confident.
I think I'm sort of I wouldn't be surprised if
we're ten percent up in spring versus last year.
Speaker 3 (07:08):
Hey, when do you move out of your Mount MONGANII premises.
Speaker 4 (07:11):
We're going to stay there in terms of the National
support office, but the factory will close around November and
we'll move to a distribution hub from there. So what
are you doing with the land while we still need
it for the storage and distribution for the next period.
Speaker 3 (07:24):
For sure you're sitting on a gold mine there.
Speaker 4 (07:27):
Well, we still need it for storage and distribution. It
it's close to the port, bring the product, the costs
from the port and distribute it out to the heartland
and the Waycatto up north. So I think we'll be
there for a while yet.
Speaker 3 (07:37):
Okay, Calvin Weck and thank you very much for taking
time out of your busy day to come in and
see us alive in the Taronga studio. It's good to
catch up again because you and I haven't really been
face to face since the old days. And this must
be ten or fifteen years ago when I used to
ring you up every second Wednesday and ask you about
the Fonterra GDT auction.
Speaker 4 (07:55):
These were a few years ago now, but look, it's
part of the landscape. Fan. But like yourself, Jamie, part
of the landscape there.
Speaker 3 (08:01):
Well for how much longer? That is the big question.
Hey Calvin, thank you very much for your time. It's
twelve fifteen here on the country. Just want to give
a shout out. I'll give a shout out to Andy
McDonald's who's my favorite producer in Auckland. He always does
a great job of getting me to air. Although I
did see Kerry playing around and here before, and I
think she was more technically inert than I was. But
(08:23):
between the two of us we've managed to get our
shows to air. Great to catch up with her as well.
But a bit of a shout out to Rick Broughton
and Auckland. His daughter in law, Erica works here in
the Taronga office. I think she might be working for
the Bay of plenty times anyhow, Erica said, Rick's a
big fan Rick. Every listener is a prisoner. Thank you
(08:43):
very much for listening, and I hope you're having a
great day. Up next we might Andy, we will try
and go to Jason to break I've got Richard Dawkins
from Federated Farmers who wrote a really interesting piece on
strong Wall. It's the one thing that's not going very
well at the moment along with arable. Actually, just on
the arable thing, Calvin, that is a bit of an
(09:04):
issue for you guys at balance.
Speaker 4 (09:07):
It depends on which part of the arable sector in
the room. But it's not looking as great as well.
Speaker 3 (09:10):
No, no, so like if that was humming, that would
be better for fertilizer, but those guys have got no choice.
They've got to use it in the hour.
Speaker 4 (09:17):
They used some years. But it's just how much easter
plant he might go in if the outlook was a
bit better.
Speaker 3 (09:21):
Yeah, okay, so there we go. So we'll have you
to Jason to break It is a day of chief
executives Miles Hurrile Awee, but later Richard Dawkins from Federated
Farmers and hopefully if I can find him our ossie
correspondent Chris Russell. We missed him yesterday. We'll try and
get them today. Back after the break dream. I'm twenty
(09:46):
after twelve, going country on the country on a Friday.
Love it, Thank you, Andy. It is a day of
chief executives. Second to the batter's box, as the chief
executive of ZESPRI couldn't make it into the studio here
in Taranga's very very busy man. But Jason to break,
I'm going to Tapoki tonight with the Kiwi fruit capital
(10:07):
of the country, and I'm hoping that all those wealthy
Kiwi fruit farmers out there all bit up big time
tonight on the charity auction, and so they should with
record returns. What do you reckon?
Speaker 5 (10:18):
Oh, well, you hope hopefully you have a good run
then and look, you know we just had our in
your general meeting yesterday, and look the mood is reasonably
positive and also you know, quite calm out there. So
if that works out well for you.
Speaker 3 (10:33):
The let's have a look you're saying the latest forecast
reflects the strong start of the season with average per
hect their returns forecast to reach record levels for all
categories other than sun gold and organic green. Why are
they dragging the chain?
Speaker 5 (10:50):
So it's a couple of things. One organic green, our
portray returns are actually up, but our the yield off
orchard is actually a little bit late, so so it's
just more of a yield impact this year for sun gold. Look,
we're carrying a little bit of risk provisions at the moment,
so we hope that we are able to sort of
realize that. But just China is a little bit sluggish
(11:13):
right now, and so we're just looking how we sort
of move a bit of fruit into other markets just
to sort of reduce the risk we've got in China
at the moment for a slightly slower level of consumption.
Speaker 3 (11:23):
Organic grower is getting rewarded for the extra effort and
cost it does take to grow stuff organically.
Speaker 5 (11:30):
Yeah, they are. Actually they're getting a reasonably good list
on both on a per hectare basis, but also on
a per tray basis over conventional as well. And we've
seen quite good growth and organic, particularly out of North
America where there is a desire for that, plus also
some of our European markets as well to pay good
value for our organic fruit.
Speaker 3 (11:52):
Now you're talking about ten year plans. Your previous ten
year plan targeted a four point five billion in sales
by twenty twenty five. You have fulfilled that. The next
one to knock off is by twenty thirty five for
KEYW Fruit to be the world's healthiest fruit brand and
(12:12):
Jason to break chief executive of ZESPRI. I see no
reason why that shouldn't happen. You're probably there now, aren't you.
Speaker 5 (12:19):
Well, what we're looking at is how do we create
a globally iconic brand that's built on natural nutrition. So
we need to have the best products that are healthy.
We need to make sure we've got a healthy brand
and a healthy supply chain and sale the marketing team,
plus being able to deliver healthy returns back to growers.
So look, we are looking how we continue to stretch
(12:40):
ourselves to be globally iconic and the globally leading and
natural nutrition. So I think we've still got work to
do over the next decade to keep ourselves stretched, but
that's certainly what we're striving for now.
Speaker 3 (12:53):
I was reading something this morning about key We fruit
being very good for the digestive system.
Speaker 5 (13:00):
Actually, just in the last week or so, we've actually
had a health claim that's been approved by the European
Commission and it's actually the first time any fresh fruit
ever has been given a health claim by the European Union.
So our green Kiwi fruit has obviously been given that
approval for digestive health, which is really good. It's been
(13:23):
We've already seeing a positive movement on demand and requests
for our product as well on the back of that.
Speaker 3 (13:29):
See me, I've transitioned keyw fruit wise. This is Jason
from the Green. I used to love the green, but
now I'm sold solid on the gold. But I heard
news talk said these health health freaking And I say
that in the nicest possible way. Mike Hosking talking to you.
Mike's very particular about his health, and he was saying
(13:51):
that green is better for you than gold.
Speaker 5 (13:54):
Yeah, well, I mean the good thing is that we
actually look at what is the opportunity that we can
give to consumers. So green is good for digestive health,
gold is good for vitamin C and vitality. Our ruby
read obviously, which we continue to develop and grow, very
good around novelty and bringing young consumers into the category.
(14:14):
And we're actually looking at further KII through products that
we're breeding for for different requirements that consumers will need
around their health going forward. Yeah, there's a lot of
interesting things in this space as well.
Speaker 3 (14:27):
Let's just finish on Mother Nature as long as the
weather plays ball, because you've got through the winter okay
and hasn't been major flooding or disasters like Gabrielle. So
like in Tapooki, there was talk that with climate change,
it mightn't be cold enough for the bud set or
whatever you call it in Kiwi fruit. You'll have to
excuse my ignorance there. Did the winter treat you?
Speaker 5 (14:49):
Well? Yeah, we got a amount of winter chill towards
the end, so early winter was a little bit mild,
a little bit wet, good winter chill later on. There's
good labor out there at the moment, so a lot
of the work on orchard's being done at the moment.
So I think at the moment, looking at still for
the early days, that things are setting up for our
(15:10):
reasonable production season.
Speaker 3 (15:11):
Good on youre Jason to break. Thanks for some of
your time today. I know you're a busy man.
Speaker 5 (15:16):
Awesome, Thank you very much.
Speaker 3 (15:17):
There we go, Chief Executive of Zesbury twenty five after twelve.
It is a day of chief executives. Miles Hurrell on
the announcement today that Fonterra's agreed to sell its consumer
and associated businesses to lack Talis, the French dairy giant.
I think they're French, aren't they. We'll find out in
a minute for three point eight four or five billion dollars.
(15:40):
But up next we're heading down to Marlborough. Down from
where I am and to how wrong today? Richard Dawkins
Federated Farmers New Meat and Wool Chair. He's written the
really interesting piece on strong Wall. It's dragging the chain
comparatively compared to the rest of the primary sector. But
Richard hasn't given up hope he's next on the country.
When twenty eight after twelve heading down the road to Marlborough,
(16:10):
Richard Dawkins Federated Farmers Meat and Wheelchair took over from
Toby Williams. Richard, you still got to save our sheep
campaign going strong. That was sort of Toby's baby.
Speaker 2 (16:22):
Yeah, thanks for having me, Jamie. Yet, look, we do
and obviously very relevant at the moment. We're seeking changes
to that Climate Change Amendment Bill which would certainly help
the bill achieve what it was intended to do.
Speaker 3 (16:34):
Yeah, carbon farming is still very much an issue for
you guys.
Speaker 2 (16:38):
Yeah very much though.
Speaker 3 (16:39):
Ian.
Speaker 2 (16:39):
Look, we really appreciate the intent of the bill from
the government. You know, it was put under urgency. They
obviously understand the issue, but we're just concerned it misses
the marker wee bit you're.
Speaker 3 (16:49):
Wandering at the moment. I think class is one to five.
You can put twenty are no more than twenty five
percent of your plantings into the ets no protection or
sick classes six and seven where most of the extents
of sheep and beef properties that have little or no protection.
Speaker 2 (17:06):
Yeah, so there's a fifteen thousand hectier lottery for class six.
So I'm really curious about how that would work in reality.
But then as you say no protection on class seven,
and eighty eight percent of those carbon conversions were actually
on classes six and seven. So yeah, still a real concern.
Speaker 3 (17:26):
You write an interesting Columnent's on the Herald on the
Country website about wall. You haven't given up hope. A
lot of farmers have to be fair, Richard. And you
wrote in the early nineteen eighties, wall contributed sixty five
percent of our farm's sheep income. This is your farm
in Marlborough. Woll was king and sheep were a true
(17:47):
dual purpose breed. Today and this is a damning figure.
Strong Wall makes up just one to two percent of
gross farm income. That's a big fall from grace.
Speaker 2 (17:58):
Yeah, that's right. I mean the great benefit of sheep
is they are a dual purpose animal, right, and when
we're seeing beef returns as they are, although I received
a LAMB schedule which was pretty promising this morning. But yeah,
I mean, if you're a single purpose animal, beefe's are
probably going to bush sheep out. So yeah, there's some
great initiatives going on between industry and government. So we're
(18:21):
just hosting these workshops, four of them down Otago and
Southland and just trying to get a bit of positivity
going Jamie.
Speaker 3 (18:28):
Yeah, well, positively is one thing being realistic to another.
If I had a dollar for every time someone had
an idea to save strong wool, I would be a
wealthy man.
Speaker 6 (18:38):
Yeah.
Speaker 2 (18:38):
Absolutely, And look I can't speak on behalf of these
ladies and gentlemen who are doing this work, but look
they have been investing time and money into these initiatives,
so let's go along and at least give it a chance.
Speaker 6 (18:53):
Right.
Speaker 3 (18:53):
Well, we had the example this week of the tennis balls,
which is a good story. At the US Open, they've
been using New Zealand strong cross bread well for ages.
But I've always been on the mind Richard that we
need to find some other really main basic purpose for
strong crossbred wall other than carpets.
Speaker 2 (19:10):
Yeah, that's right, it's that valuable end use, but also
having a supply chain that focuses on returning that value
to the farmer and having it sustainable for the farmer
as well as the end user.
Speaker 3 (19:22):
Do you think we should go back to like a
wall Levy?
Speaker 2 (19:27):
Oh yes, Look, I mean I'm hearing murmurings of potentially
something like that could be in the works. And look,
I represent my Meat and Wall Council twenty four twenty
four people who then represent our twelve thousand members, and
we actually haven't had that discussion. But look at the moment,
industry groups and government are investing a lot of money
(19:49):
into this stuff, and at some point I assume that
tap will be turned off.
Speaker 3 (19:54):
How's things in Marlboro, Because I know you got very
wet there for a while, not quite as wet as
they did over on the other side of the hills
in the Tasman Nelson region, but you had a truckload
of rain. It's probably going to set you guys up
pretty well for spring.
Speaker 2 (20:09):
Yeah. Look, we certainly feel for our friends over the hill,
but like you say, Jamie, it was very wet just
in the lead up to Lambing, but since then we've
had beautiful cold frosty mornings and nice sunny days. So
we've only actually lost one lamb due to adverse weather
this season, which is certainly a record for us.
Speaker 3 (20:28):
Good stuff. Happy days for the sheep farmers in Marlborough.
Richard Dawkins, thanks for your time from Federated Farmers.
Speaker 2 (20:33):
No problems.
Speaker 5 (20:34):
Thanks Jan good on you.
Speaker 3 (20:35):
Twenty eight away from twelve you're with the country. Coming
to you today from our Twonga studios, looking right out
on Cameron Road, the main drag here in tower up
after the break. Michelle is still doing the hard yards
for us at Dunedin HQ. She'll have rural news. I've
got no idea what's in it. And Andy McDonald I
(20:58):
don't know whether he realizes this, but he's doing sport.
Before the end of the hour, Chris Russell or Elsie
correspondent and the other chief executive, Miles Hurrel announcing the
sale of the consumer businesses to Lactalis for three point
eight four or five billion. That's a lot of money.
After the break, NASA are we making but.
Speaker 6 (21:21):
That's taken our big um Ah.
Speaker 3 (21:25):
You can't beat Fred Dagg. There's a new Fred Dag
or John Clark doco coming up. I think we're going
to have an interview with someone there. Michelle's working on
that once. She sent me a couple of texts rural
news and a tick indication of strength and the beef
market at present. Some lines of yeling beef stairs sold
for over seven dollars per kilogram live weight at Castle
(21:45):
Rock yesterday. That's a Northern Southland selling center. That's huge money.
Jamie Fonterra selling its brands to France will inevitably increase
costs for New Zealand consumers of butter, ice cream, etcetera.
Where's the comment from Winston and Shane says Don, While
I'll ask Shane tonight to the Topookee Rugby Club fundraiser.
(22:07):
Here is Michelle Watt with the latest and Rural News.
Speaker 1 (22:10):
The country's rural news with CULD Cadet, New Zealand's leading
right on lawn bower bread, visit steel for dot cott
zim for your local stargist.
Speaker 7 (22:20):
And you, Jamie, you got to at first. But in
Rural News today. The official New Zealand trailer for Not
Only Fred dag actually launches today and it's going to
give audiences their first look at the documentary, which has
been written and directed by John Clark's daughter, Lauren Clark.
The film opens in New Zealand cinemas on Friday, the
twenty sixth of December. So we've got a little bit
of a weight. But fred Dag a massive legend both
(22:42):
in New Zealand and Australia. Had lots of different characters
that he played. And that gun boot song I remember
that as a young child. Actually, I think I had
learned to sing that at school, Jamie. So yeah, it
should be great. I'm looking forward to that.
Speaker 3 (22:55):
Yeah. Absolutely. That's Michelle with Rural News. Here's what's his name,
Andy McDonald with Sports News, and we've got a new
All Black number eight. Andy.
Speaker 1 (23:05):
Sports were an ath Goo Kiwi to the bone since
nineteen oh four.
Speaker 8 (23:10):
Yes, Jamie, we do in sports. Simon Parker. He's been
named in the All Blacks squad at number eight to
play the Second Test against Argentina. More player movement in
Netble's A and Z Premiership. One of the country's top
shooters on the move. Silver Fern's squad member Martina Salmon
is a seventh player to depart the Mainland Tactics Championship
winning roster. Not yet confirmed where she'll play next year.
(23:31):
Our twenty one year old fund shooter Amelia Walmsley has
signed on with the Auckland based Stars, becoming the fifth
starting player to depart the Central Pulse and the Football Funds.
They've locked in a Glamor fixture against the United States
in Kansas City in October. That's sports, Jamie.
Speaker 3 (23:46):
Yeah, and I feel sorry for Donald la Fagan or
donnad Wilkins. She is these days, of course. And Donna
did a great job with the tactics that they won
the A and Z Premiership or whatever the Pinnacle Netball competition.
Will she have any netball players left?
Speaker 8 (23:58):
The coach, Andy, I've got to have ten on ten
ten match day squad members. They've lost seven, so that
they'll need they'll need to find some players from somewhere.
But the good news about about Salmon and Warmsey is
at least they're not well grant. I don't know about someone,
but Warmsey at least she's not going over to Australia,
so we're keeping some players on New Zealand chores at least.
Speaker 3 (24:19):
Hey, and what do you make of the Simon Parker, Oh, fantastic,
A big bit of beef that's what we need in
the All Blacks, isn't it what he had?
Speaker 8 (24:26):
A hell of a middlely a bit of a bolter though,
but a hell of a super rugby season. Oh yeah,
I'm stoked to see in there. Actually, it's a fantastic
a fantastic selection as well. And just those slight little
tweaks that are like, I like what Rais is doing
to sort of keep that consistency, but also blood and
guys without.
Speaker 3 (24:44):
Well, I like Rais are much better in twenty five
than twenty four and twenty four he was just Ian
Foster two point zero with his selection, So now he's
putting his stamp on the team. Thanks Andy doing a
great job producing out of our Auckland studios. We're going
to take a break. On the other side, we're either
going to go with Miles Hurrell or Chris Russell, depending
(25:04):
on who we can get okay, So in fact we'll
ponder that during the break.
Speaker 2 (25:12):
Jimmy boys would good news you.
Speaker 8 (25:15):
Will never send Kara.
Speaker 3 (25:20):
Here's our Australian correspondent of long standing Chris Russell. And
all the years I've known Hi, which is more than
thirty now, he's well and truly been on the losing
end when it comes to the All Blacks up against
the Wallabies. I've lost count of how many bottles of
wine he owes me and has never paid me. Chris Russell,
do you think you're a bit of a chance this year?
Speaker 9 (25:41):
Look, I hesitate to be over confident about that. I've
done that before. I remember seeing this to Robbie Dean's
on a plane one year and him promising me that
I get some of those bottles of wines back when
I told him that how many I've lasted because he
hadn't performed yet and I never did. But you know,
we have had a fantastic big game last weekend. Joe
Schmidt has done a fantastic job. We've got a side
(26:04):
that seems to be disciplined and we're ranked number six
in the world now, which just sneaks us into the
World Cup thing where he does have another big side
in your group. If we beat them in Cape Town
on this weekend, then we will come up to number
three in the world. Then we've got Argentina and then
we've got Eden Park. So look on one life at
(26:26):
a time here. But I'm as excited as I've been
in recent years.
Speaker 3 (26:31):
Chris, you've poked the beer resci Arrasthmus. Not too pleased.
He's brought back the bomb squad, although at sea level
it should favor Australia relatively compared to the high volt.
But I wouldn't hold my breath waiting for a second
Wallaby one. But good luck, you're going well. You've got
a great coach. A keiwalk have.
Speaker 9 (26:50):
Got a great coach. He's really I'm so sorry he's
moving on. But hopefully les Kiss is looking on from
the sideline saying he's got a big act to follow.
He's got a after Bradman and hopefully he's up to
the fast.
Speaker 3 (27:02):
Tell me about this new cotton gin in Northern West
Australia or Western Australia.
Speaker 9 (27:07):
Well, I think I've spoken to you before how cotton
looks like making a comeback in the Odd River and
up in the north of Western Australia. When the Order
of a scheme was first started up up there where
they trapped the waters of the Ord with this massive
lake argyle, it failed because the insects just loved that
tropical climate and the old bowl weavil.
Speaker 2 (27:29):
You know, they were.
Speaker 9 (27:29):
Having to spray that crop with this horrible endo sulfon,
which is an organo chlorine chemical, twice a day, whereas
at the worst down here they only sprayed about every
ten days. But since the advent of this BT cotton,
where they actually put the genes of a poisonous protein
into the leaf, poisonous to bowl evils, that is, and
therefore they don't need to do any spraying, it's made
(27:52):
a real comeback. And the other thing that's happened up
there is that the pastoral leash rules in the Northern
Territory say that they can't use underground water for growing crops.
They can only use it for producing stop feed. And
somehow they've comm the Northern Theratory government in being convinced
that they're growing cotton for the seed and not for
the cotton, which is a ludicrous idea, but nothing there's
(28:15):
nothing wrong with a seed, of course, but the money
is in the cotton. But nonetheless they're doing it. They're
growing the cotton and on the Order River as well,
not just on the past releases. So they've now built
at last the cotton gin in Cananara, sixty million dollar operation.
Cotton gins are expensive and they've been looking for one
for ages, but they could never guarantee the supply of cotton,
(28:37):
so I want to buy it or build it. They've
now built this cotton gin. It means instead of sending
the cotton either sending it full of its trash and
everything the China, or selling it over to the East Coast,
which is also very expensive, they can now gin it
up there and produce the cotton and then just ship
the cotton out. So it is a massive, a massive
(28:59):
change from the norse up there. They reckon it will
generate more than a thousand jobs in Cannanaro the next decade,
and fingers crossed that it'll be successful and we'll have
a whole new business that last will make some really
good money out of that amazing ORed River scheme up there.
Speaker 3 (29:15):
Okay, I've only got time for one more story. Unfortunately,
Australian coffee comes into its own as global coffee prices spike.
And I wasn't aware, Chris learning something every day when
I chat to you, that you had a coffee industry.
Speaker 9 (29:28):
Coffee industry has been a boutique industry up in North
Queensland on the Athen Tablelands for some time, Jamie, And
at last I think with coffee prices from overseas going
from six dollars a kilo to twenty dollars a kilo
as the Brazilian market collapsed and various other disasters have
taken over the coffee industry overseas. Now it's becoming more
(29:51):
mainstream and more coffee shops in Australia are now selling
Australian coffee, which is fine coffee. It was just expensive.
So it's another little bootique industry which will certainly grow
into something a bit more substantial up there. I hope
it carries on, people get a place for it and
we're able to support our own crops.
Speaker 3 (30:08):
Jomie Well, Chris Russell, I've learned a lot about cotton
and coffee. Good luck to the Wallabies in Cape Town.
Speaker 9 (30:15):
No worries, Thanks Jomie.
Speaker 3 (30:17):
Thank you Chris. It's going to be a great weekend
of footy. But mind you, the absolute highlight of the
weekend came. It's not even the weekend. Weekday came last night.
I'm in the Bay of Plenty. Guess who beat the
Steamers last night? The Southland Stags. How good was that?
Before I forget a message from our friends at farm
Strong when life gets busy on the farm. Look after
(30:40):
the top two inches. That can be as important as
looking after your stock and pasture. For free tools and
resources on how to manage pressure and look after the
top paddock, boost your mind and keep it well. Head
to farm strong the website this weekend. That's farmstrong dot
co dot nzen. We're going to wrap the Country from
the Taronga Studios with Miles Hurrel, chief executive of Fonterra.
(31:08):
Lad welcome back to the country. Thank you Brandon, third
of three chief executives today you've heard from Calvin Wickham,
Allen Sagra Nutrients, Jason to Brak Zesprea. This man is
full of good news. He is the chief executive of Fonterra,
our biggest farming company and cooperative. Miles Hurrell, you've agreed
(31:28):
to sell your consumer and associated businesses to lack Talis
for three point eight four or five billion dollars. Is
this going to get universal farmer support? Do you reckon?
Speaker 6 (31:39):
Miles Jamie? Well, I mean the headline number you talk to.
It's a pretty good result. Team have been working around
the clock on this for a number of months now,
so I know we're at We'll take it to a
farm at the end of October. The lultimate you make
their own calls, but you know the fact we're out
there talking about giving two dollars a yearback, you know,
three point two billion dollars of that three point eight
(32:00):
I think that gets some pretty good support from our fartment.
Speaker 3 (32:03):
You're dangling a very big carrot in front of the
dairy farmers there.
Speaker 6 (32:06):
Miles, Well, I wouldn't call it a carrot. I mean, ultimately,
it's their capital, so we just think let's do the
right thing with it. From their perspective, they've invested in
this business for a number of years and you know,
as we've talked about, it hasn't given the return over
the long term that we want that consumer business, So
the right thing to do is to give it back.
Speaker 3 (32:24):
Is there an argument, and we had a text earlier
in the shows suggesting it might make dairy products more
expensive for New Zealand consumers. Any logic to that argument.
Speaker 6 (32:35):
Hard to see that logic to be fair. I mean,
the competitive environment doesn't change, you know, effectively removing us
from the consumer market and put in another player, So
I wouldn't see that changing at all. If anything, you'd
see someone like a luck the least that could potentially
bring in some other international brands that they own into
the New Diyaland market that they may see an opportunity for.
So I wouldn't see any change in the New Zealand
(32:57):
competitive environment internationally.
Speaker 5 (33:00):
Yeah.
Speaker 6 (33:00):
I think it's a great new story that they'll grow.
I think they'll take to another level that we haven't
been able to do internally, and as a result, will
be supplying the additional ingredients and fresh milk to support
their growth.
Speaker 5 (33:09):
Yeah.
Speaker 3 (33:10):
Well, that's sort of the key part of the agreement,
I guess, the fact that you've locked in the supply
from the Fonterra farmer.
Speaker 6 (33:15):
Shareholders exactly that and that was a key part, not
not just for our own farmercyholders, because they want to
see their milk go into those brands. You know that
that was an important conversation with people with them for
quite some time. But at the same time it was
critical for lack deletion of the conversations we've had with them.
They understand the importance of the brands and the strength
of those brands. They understand that the manufacturing factories that
(33:38):
they're buying, but at the same time they also know
their worthless that you haven't got raw material to go
through it and the good stuff their farmers do. It's
critical to that. So no, that's a great one one
for everyone. I think of this one.
Speaker 3 (33:50):
How long does that supply agreement last?
Speaker 6 (33:52):
For well, they very easy to appreciate. You know, there's
fresh milk at one of the spectrum, which which goes
into a sort of an anchor two leader, and then
there's a whole of ingredients that might go into some
specially specialty products, so they vary across the board. You know,
the fresh milk want to give you an idea of
sort of ten years of minimum starting points. So that
should give a good indication to our shielders that we
were at.
Speaker 3 (34:13):
What's the process from here on in to get this
rubber stamped or rings.
Speaker 6 (34:17):
Yeah, so thirty towards the end of OXTO, I think
thirty October, we're looking at this point of a farmer vote.
There will be we've got our annual results coming out
towards in the September, we'll go through and our conversations
with farmers through that period towards the end of October
for that vote, there's obviously regulatory approvals that are required.
So with that, you know competition tribunals internationally, whether it
(34:39):
be in Australia not not here in New Zealand from
that perspective, and then there's the sort of OO equivalents.
They exist both here Australia, I think, Saudi and Kuwait.
I got a couple of others, so that those are
formal process we need to go through. At the end
of the day, we don't see any major hiccups with that.
That's just a time process, we believe, so hopefully by
(35:00):
midway through Canada twenty six will be able to close
us out.
Speaker 3 (35:04):
Yesterday you came out and announced ten dollars fifteen that's
the new midpoint, and you've narrowed it right down, so
that's we can probably call that locked and loaded for
twenty four twenty five, perhaps more interestingly twenty five twenty
six ten dollars. It's pretty rock solid at the moment,
is it?
Speaker 6 (35:22):
Well? As good as you remember. We moved away from
that midpoint for the current season, which which really reflecting
we saw more downside risk on the back of the
introduction of tariff in the US and the sort of
global uncertainty. We've knocked the bottom of that range off now,
which you know, we've kept the ten dollars there as
our position, but we've taken that low end off because
we've had confidence in the early part of our season.
(35:44):
Milk is starting to flow now, so we obviously need
to see a little bit more of that soul before
we have any confidence in doing anything further. But the
last two or three Gendt events gives a pretty good
indication that it's pretty solid out there.
Speaker 3 (35:57):
You mentioned the tariffs. How's Trump treating you? Well?
Speaker 6 (36:03):
I mean, look, it's it's not helpful for we think
we can say that. I mean, you know, ten percent
was disruptive in a bit of a pain in the
neck if I could say that, you know, most of
that's been passed on through our customers and consumers in
those in those markets. So I think the US economy
will feel the pain, you know, fifteen percent and you
start to get away from from being on par with others.
That for us, as you start to get a bit
(36:25):
we get a bit grumpy at that level. But you
know that said, you know, where we can closely with
our customers up there, they understand it. It's more of
a political issue on their side more than more than us.
But you know, I see minister mclays up there. Let's
see if he can rattle a few cages. But you know,
we're diversified enough. We'll go where we get the best return.
And if that means the US slows down a little
bit for us and we pops the products to other markets,
(36:47):
that's what we're good at.
Speaker 3 (36:49):
Okay. Just finally, the other number that came out yesterday
was the earnings guidance remained unchanged. It's sixty five to
seventy five cents per share potentially. I mean, I'm I
just threw it out there. Could there be a fifty
cent dividend for fonterrash a Farmer shareholders this year along
with their two bucks per year?
Speaker 5 (37:08):
Yeah?
Speaker 6 (37:08):
Well, who knows. So twenty third or twenty fourth of
September I think is today we go to the board
for that. So we'll do the numbers. I mean, the
balance sheets in a really strong position even the side
of this announcement today. The earnings look look strong, as
you say, and the gardens of sixty five or seventy
five cents, So you know, there's a good time to
be a Ta Bear shiholder. And yeah you have to
(37:30):
wait till the end of September.
Speaker 3 (37:31):
Jamien Miles Harrel, thank you very much for your time.
I appreciate you're a busy man, and the time of
the other chief executives who turned up on the show today. Well,
that's us done and dusted from TALONGA. I'm off to
Tapooki tonight. Looking forward to rubbing it into John Cameron JC,
a man who scored two tries against the Lions in
nineteen eighty three. Forget about that, JC, The Stags beat
(37:54):
the Steamers. What a great day, What a great night
it was last night. Catch you back on Monday.
Speaker 1 (38:00):
Catch all the latest from the land. It's the Country
podcast with Jamie MacKaye thanks to Brent starkest of the
leading agriculture brands.
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My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.