March 16, 2025 • 38 mins
Jamie Mackay talks to Richard McIntyre, David Seymour, Chris McCollough, Tom Young, and Phil Duncan
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Speaker 1 (00:00):
Catch all the latest from the land. It's the Country
Podcast with Jamie McKay thanks to Brent starkest of the
leading agriculture brands.
Speaker 2 (00:29):
Gooday, New Zealand. Welcome to the Country. It's brought to
you by Brant On Saint Patrick's Day, it's classic Irish
music from the Cranberries. I've got one eye on the
show and one eye on the Gulf. Northern Irishman Rory
McElroy bring home the fifth major on well Sir Patrick's Day.
Out time we'll come back to Rory in Sport. We're
(00:50):
going to kick it off with Richard McIntyre, Federated Farmer's
Banking spokesperson and man or two dairy farmer Autumn carving
and the drought. We'll see how he's getting on David's
emos running the country at the moment. In the absence
of the PM who's in India trying to get a
free trade deal and the Deputy PM Winston who's in
Washington trying to talk Trump out of tariff's we will
(01:11):
chat to Tom Young, who is National's AFC's National Livestock Manager.
Record returns for beef, vastly improved returns for Lamb and
Mutton prices. How long can they last?
Speaker 3 (01:26):
For?
Speaker 2 (01:27):
Earlier this morning I caught up with an Irish journey
just because we could on Saint Pat's Day, Chris McCulloch
and Northern Ireland and Phil Duncan on the weather. But
let's kick it off with Richard McIntyre, Federated Farmers Banking
spokesperson who's calling for the Reserve Bank to drop overly
conservative and growth restricting capital rules that are costing farmers
(01:49):
of fortune. That's an understatement of the year, Richard McIntyre.
They're being ripped off.
Speaker 4 (01:57):
Look city are at the moment, Jane. You know we're
being calling for this for there quite some time. In fact,
it was one of the main reasons that we actually
called for the Banking Quiry to assess not just what
the banks were doing, but what the Reserve Bank was doing,
which was making life hard for fun.
Speaker 2 (02:11):
Actually, I should apologize to the banks because they've got
to play by the rules that are set by the
Reserve Bank. So in twenty nineteen under Adrian Or the
banks moved from their old requirement was to hold enough
capital for a one on one hundred year financial event.
In twenty nineteen. Goodness knows why we decided that for
farmers or farming loans you had to hold enough capital
(02:35):
to withstand a one and two hundred year financial event.
And basically that's added fifty to one hundred basis points
to agricultural loans across the board, about one percent.
Speaker 4 (02:47):
Yeah, that's great. So that's a huge about and we
think that Adrian Oil was just way, way, way too conservative.
You know, the equivalent here would be that if you ensured,
you know, absolutely everything you own a zero excess. No
one does that because it's just far too costly for
the benefit. But that's what Adrian or had chosen to do.
And it was just effectively money that was going straight
(03:08):
out of the egg sector. We reckon about six hundred
million a year straight out of the egg sector and
effectively overseas to where the banks get their money from.
And you think about what that money could be used for,
you know, by farming businesses, you know, either paying down debt,
spending it on infrastructure, et cetera within rural communities, or
you know, anything like that.
Speaker 2 (03:27):
Paying tax on increased profits would be one thing, and
that would help the economy. You're suggesting at farm level.
It's an eye watering forty four thousand dollars of extra
interest payments for your average farmer that comes straight off
their bottom line.
Speaker 4 (03:42):
Yeah, that's so based on our last feder and farmer's
banking So members were telling us that that's there. Ye,
they're based on the average debt that would this will
save forty four thousand dollars for every every farming business
on average.
Speaker 2 (03:56):
Though, and once again, I don't want to sound like
a patsy for the banks here, but but surely farm
loans more risky than house loans. Well, they certainly less liquid.
Put it that way.
Speaker 4 (04:10):
Yeah, look, that's what we keep getting told. But you know,
from everything I've seen, I'm not convinced that farmlands present
a significantly greater risk than in the other form of wending.
You know, it was certainly not enough to be charged
the risk premiums that we are. You know, if you're
think of what's happened over the last of the ten
to fifteen years, we've had quite its multu cycle with
you know, recessions, droughts, marketplace of overs, COVID, high interest rates,
(04:33):
low commodity prices, all that stuff, And so it really
begs the question, you know, if agdates that much risk
he is, so, then how much has the how much
of the bank's actually lost on rual loans during that period.
And what was fascinating, you know during the banks presenting
to the sort of community for the banking inquiry is
it turns out that the banks have averaged less than
one farm per year going into receivership. So where's the
(04:57):
risk from agdet to the banks or to the financial
system to justify you know, this West premium that's being charged.
And it sort of goes back to what you know,
to what Cameron Bakery says. You know, banks are pricing
for a risk that they're not taking.
Speaker 2 (05:12):
Have we had a bit of a break in the traffic,
a lucky turn with Adrianaw's exit LL soon to be exit.
Speaker 4 (05:20):
Yes, I certainly would say this is very fortuitous for farmers,
and I'd argue that the economy in general, to be fair,
you know, hopefully we can get a new Reserve Bank
governor that is a little bit more focused on economic
prosperity and a little less conservative. You know, obviously we
still want to have a resulted financial system. But look
at one and two entergy of financial event is just
(05:41):
too high a drag on the economy and the most
productive seenter.
Speaker 2 (05:45):
Absolutely well, good luck with that one. Good luck petitioning
the new governor of the Reserve Bank, whoever he or
she might end up being Richard McIntyre. When you're not
doing that for Federated Farmers, you're the dairy spokesperson. That's
because you're a cow. Your autumn carving. You are a
sucker for punishment. That means milking basically all year round,
(06:06):
doesn't it.
Speaker 4 (06:08):
Yeah, it does, it does. But like the awkward is
like having milk in their coffee. So and they're prepared
to pay me a bit more for it, so I
do it.
Speaker 5 (06:14):
I suppose.
Speaker 2 (06:15):
How are you getting on autumn carving and a drought.
Speaker 4 (06:19):
Yeah, this is always the risk with the autumn carving,
you know, when it doesn't rain and you don't have
any protein to feed your cares. Basically it's a little
bit of a challenge. To be fair, we are feeding
out you know a huge amount of supplement at the moment,
a lot of high quality you know, protein meals and
the likes, just to sort of keep these guys going
because it's the start of their actation. And if you
(06:39):
get it wrong now, it's it's all appealed from there.
So yeah, bit of work going in with with myself
and the staff to keep it going. But look, bit
of rain soon we'll get some grass and we'll be
away from there.
Speaker 2 (06:50):
And daughter's eighteenth birthday today, you want to give her
a shout out.
Speaker 4 (06:54):
Look, I'd love to look. You know, my daughter Earlily
at eighteen today, you're happy birthday. Look, she's Jamie. She's
growing into such a great young lady and she's going
to be such an awesome adult. So just wish all
the best for today and into the future.
Speaker 2 (07:09):
You sound like a really proud dad, Richard McIntyre. Good
on you very much. So yeah, and girls, cause girls,
I'm only speaking from personal experience here in our family.
They cause a lot less grief than the boys.
Speaker 4 (07:23):
They certainly can do. But yeah, they can cause it
of grief of their own though.
Speaker 2 (07:27):
All right, Richard McIntyre, thank you very much for your time.
You guys at Federated Farmers, keep up the good work
and keep holding you know, the feet of the Reserve
Bank to the flames on this one, because I reckon
if Farmers played paid one percent less across the board.
That would really benefit the economy, especially in a year
like this where farmers will be paying meaningful tax.
Speaker 4 (07:48):
Oh look, this is so important to the accept the Jamie.
We've just got to get this over the one.
Speaker 2 (07:53):
Okay, there we go, Richard McIntyre, I've managed to blunder
want my way through that interview. Michelle's just shaking her
head because I'm kind of listening to Richard and not
really listening to Richard. I'm useless. I admit Spawn has
a part to win. Yes, this is his third shot.
He's on the greend for two. I'm that very tricky
eighteenth at TPC Sawgrass. This is a part to win,
(08:16):
my goodness, to win the players championship. He has left
it literally two inches short. So I'm assuming we go
to a playoff with Rory. More about that later up
next though, a David Seymour who's running the country at
the moment, in the absence, of course, of Winston who's
in Washington, and the PM who is in India. I've
(08:39):
heard us Sidu from he is running the country today
or for the next couple of days anyhow, Acting Prime
Minister and act leader David Seymour, David why don't you
just do a Trump and put an end to school
lunches while Winston and Luxeon are away.
Speaker 6 (09:00):
Well, the main reason is that we, first of all,
have government policy, and we do want to keep the
coalition together. I don't think it'll work very well if
everyone just changes the rules when the other two are away.
The second thing is, besides wanting a bit of stability,
we've got a legally enforceable contract with the people delivering
(09:20):
the lunches, so we have to pay them out. So
there's a few reasons, but I sometimes wonder if that
mightn't be the best thing to do. Seventy five percent
parents making their kids lunches on school days and presumably
one hundred percent of pearance on the other one hundred
and eighty days a year in schools are closed, so
it is a pretty tempting thing, but we've got to government.
Speaker 2 (09:42):
Yeah, okay, well, here's an idea for you. You're doing
these school lunches on the cheap for three bucks, and
good on you for cutting the cost of them, even
if they may not be edible. But why not just
be more targeted David in your approach? Why not just
go to the lower decile schools and say here's three
dollars ahead to subsidize lunch for the kids who don't
(10:03):
have a lunch when they come to school. Because you
can't tell me that twenty seven percent of the kids
in New Zealand going to school need the state to
give them a lunch.
Speaker 6 (10:13):
Well, first of all, I can't let you get away
with that last jab. We get lots of feedback from
a lot of people who say they're not only edible,
but are better than the old system. Strangely, those people
don't seem to be getting featured on the news. I
can't work it out either. As far as the targeting,
we basically inherited the last government's policy. You know, I
(10:33):
campaigned to get rid of the whole thing. Our coalition
wants to keep it. I'm now signed up to the
government policy and in one of the life's great ironies,
i'm the guy responsible for making it work. As the
Education Associate Education Minister say them's the breaks. Should it
be targeted differently? Yep? I think they're a really good
argument for that. And once we've studied the ship as
(10:55):
it currently is, and it is getting better each day
for reasons that we are improving it every day. We
will be able to start asking these other questions like
do we need to fund it for every single care
at every single school. I think those questions are worth answering.
Speaker 2 (11:12):
Federated Farmers is calling for the Reserve Bank to drop
overly conservative and growth restricting banking capital rules that are
costing farmers dearly. See Adrian or came in and in
twenty nineteen we had to hold or the banks had
to hold enough capital to withstand a one and two
hundred year financial event. So basically they went from one
(11:33):
hundred to two hundred years. So basically that's added one
percent across the board to farmers' mortgages. And you think
of all that money that would be sloshing around in
the system. If farmers had to pay one percent less
on their mortgage, for instance, it would improve the country's
tax take immeasurably.
Speaker 6 (11:54):
Yeah, so few things about that. First of all, just
acknowledge Mike Cameron chearingly Primary Production Committee in the way
that he's been dogged on this issue. Second of all,
I used to think Rob Muldoon was New Zealand's most
expensive citizen. Then Brant Robertson came along and I thought, no,
it's him, But I actually think it might be Adrian
(12:16):
all because the cost he's put on this country is enormous.
Then again, he was appointed by Grant Robinson, so I
guess we can say it's Grant. The fact that having
gold plated capital requirements at our banks has pushed up
the cost of borrowing and therefore the cost of capital
right through the economy. It's at agriculture particularly hard. I
(12:37):
was against it back in twenty nineteen when I was
sitting on the Finance and Expenditure Committee. I said to Adrian,
why do we need this? He said, in case there's
a crisis next year. We had COVID the whole world
done after two years. And what did he do? He
suspended the requirements while we went through the crisis. After
the crisis, I said, well, we got through a crisis
with the current rules, so we're sure we still need
(12:59):
to raise capital vatuios And he said, yeah, we're now
going to start raising them again. There's never been any
logic to these capital requirements not necessary. And I'm pleased
to see Nikola Willis, who is the new Grant Robertson
in the sense she's the Finance minister much more careful
with our money, is talking pretty loudly about bending the
(13:20):
Reserve Bank on this. So we get some sensible capital
requirements and I've certainly looked into it as Minister of Regulation.
We got some advice ready to go. So watch this
space on the capital requirements, is what I'd say.
Speaker 2 (13:31):
David Seymour. Let's just quickly finish on where we started
this conversation. Christopher Luxon is in India trying to get
a free trade agreement or part of one. Winstonce in
Washington trying to talk Trump out of Tariff's both doing
really good work on the world stage. Now that's good,
but come, I don't know. Mid twenty twenty six, is
it going to be every man for himself and the
(13:54):
coalition as you all try and cannibalize each other.
Speaker 6 (14:00):
I don't think so. I think each party can point
to a group of voters that partly overlap, but not
as much as you think. And we actually poll this
really closely. So there are people who support Act TO
are sitting there saying, look, we're basically open and tolerant people,
but we don't think identity politics is very open or tolerant.
We want to go a bit faster on economic reform.
(14:24):
The other two parties don't really play in both those fields.
They have their things they go for and possibly people
who support them aren't into act. That's fine. So look,
I think what most people will be looking for in
twenty six as can you re elect the coalition? Can
you re elect a stable government? Because the alternative just
(14:47):
doesn't be thinking about it. I saw them someone the
other day said they were talking to a political old
timer who told them, look, if the other guys get
in twenty six, you know, three years of and Bevin
a packer, and Chloe Swarbrick, who I just think is
increasingly unhinged in her policy pronouncements, she'll be making more.
(15:10):
And David's look like the sistible one. And then you've
got Preciptions who has the ability to screw up anything,
and he's the sensible winchpin. And that coalition now, someone
said after three years of that it will be irrecoverable.
So I suspect that what each of the three parties
in coalition will be doing is campaigning to get the
(15:31):
coalition re elected. And certainly my viewers ex job is
to keep the government. But b make it better by
making them go faster on the economic reform deregulation climate
and having an honest conversation about citizenship, while we also
do some things in education, like charter schools that give
people a bit more opportunity.
Speaker 2 (15:51):
All right, we've got to go. I think a lot
of people might vote ABR anything but wary and this
weed wacker. Well we'll leave that one, David's more. Thanks
for your time, No worries, Jamie.
Speaker 6 (16:02):
You have a great take.
Speaker 2 (16:04):
Well, David, twenty six after twelve you are with the country.
Some are your feedback so important to support federated farmers
working hard for farmers and costing our farm ten times
less than dairy in Zed, says Jeff. Well, that's a
bit tough on dairy in Zed. Didn't realize they cost
ten times as much as federated farmers. Also, and this
(16:25):
is a good point. Many farmers will be carrying a
tax loss this year, Jamie, So tax take may not
be as good as you think. Yeah, especially, I mean
I don't think many sheep farmers made any money. Most
of them lost money last year, so they'll be carrying
tax losses Ford. I think some of the dairy farmers, however,
will be in a position to pay tax this year
(16:45):
and certainly over the next couple of years. Of the
payout is around the ten dollars, not to mention the
cash influx, although it's tax paid from the dividend. So
better times ahead. Now we'll move from Derry. Will segue
from Derry on to meet Red Meat next time. Young
from ATHCO. As far as the Players Championship at TPC
(17:08):
Sawgrass is concerned, we understand that they are heading to
a three hole playoff sixteen, seventeen and eighteen, three of
the great holes in golf, so we'll keep you updated
on that one as well, But up next time. Young
(17:35):
Tom Young is afco's National Livestock Manager, based out of
the Hawk's Bay Time where they tell me are like
the rest of the North Island. You're starting to get
a bit dry.
Speaker 5 (17:44):
Yeah, hi Jamie, Yeah, we sure are.
Speaker 3 (17:46):
So you have been traveling around a wee bit recently
and hawks play is dry sort of I've been able
to want to know, that's that's pretty cock now, why Kadow?
Speaker 6 (17:55):
And also I.
Speaker 3 (17:55):
Think it's sort of quite general now and then obviously
down South Island and down to the Wanaka Shaw a
week or two back and it was very dry around
that area as well.
Speaker 2 (18:05):
Yeah, are the rains will come? Now? Will the tariffs come?
And what's plan B? What's Plan B for New Zealand
meat companies if we get hit with the Trump tariff?
Speaker 3 (18:16):
Well, look at the moment, things are going okay. So
markets are firm, and I guess it's reflected some pretty
pretty good pricing that farmers are enjoying at the moment.
I mean, I had a pretty good discussion with one
of our sales guys this morning about Trump, and he said, well,
what will be will be. We can't control Hume, but
he can obviously change his mind from one day to
(18:36):
the next. But we think, we don't think there are
too many issues just yet. But I think, as I've
pointed out to you before, sort of two to three
months ahead of ourselves, as can be a long time
in this business.
Speaker 2 (18:47):
The US is now our biggest market for red meat.
We surely can't redirect that product to other places around
the world.
Speaker 3 (18:55):
Well, you'd be surprised that we can do. I mean,
if you go back to when China was probably one
of New Zealand's biggest out leads for meat and then
they came out of COVID.
Speaker 5 (19:04):
And buy what they were buying.
Speaker 3 (19:06):
We found homes for a lot of meat that was
going to China, So I think there's always a way
around everything, So I wouldn't panic just yet.
Speaker 2 (19:14):
Record beef prices. We hear that it will take the
US three or four years to rebuild their beef herd.
Does that mean these record prices or very good prices
are here to stay for the next three or four
seasons or am I being way too optimistic?
Speaker 3 (19:32):
Well, I don't know if you're being optimistic, but I
think it's as I've seen before, it's very hard to
predict the future in the meat game. So you know,
I've heard these sorts of future predictions before, and then
somehow or other, some extra meat seems to be produced
in South America or whatever. So like i'd say, you
look steady, steady for the next two to three months
into the future, but I would want to bet two
(19:55):
three years out. But yeah, it's certainly looking okay, But
I don't want you to hang with that statement that
everything looks great for two years.
Speaker 2 (20:02):
Joing, how you surprised Tom Young how well LAMB has
held up this season?
Speaker 3 (20:09):
Yes, here we are. I mean, we started to push
on getting some sort of value back into the farmer's
pocket back in September last year, so we put a
contract out. I think it wasn't about July or August.
I can't recall the exact time, but we decided at
an f CO level, at a board level, that we
needed to get some confidence back into the game because
it was getting dire. We put a guaranteed minium price
(20:31):
out I think it's even sixty in September. And as
it turned out, the market's improved quite quickly and that
price became reality. And now we're sort of all sitting
on eight dollars and better. And what's good about it
is it's been stable the last few months and there's
no reason at this point in time that we think
too much is going to change. So if you've got
a good lamb An eighteen nineteen twenty ko Lamb at
(20:52):
eight on dollars, you're sort of you're getting well paid,
which is nice to see.
Speaker 2 (20:56):
Yeah, one fifty one sixty dollars. I was playing golf
yesterday with some sheep farmers from Riversdale who were licking
their wounds after their three but trip too I might add, Tom,
but they were reasonably happy with the returns for meat
and not so not so with wool. Do you think
that we're in danger of becoming a sheep breeding nation
(21:16):
that breeds sheep without wool.
Speaker 3 (21:20):
Well, in the last few years we've certainly seen a
few people change, I suppose in that direction with the
breeds that they are running. But I think I still
think there's a place for the traditional breed in New Zealand.
And it was it was only a month or two
ago from what I understood. If you still had a
better you know, if you had a better you know,
I guess what we use, and you had you know, good, good,
(21:40):
solid crossbred wall. You were starting to see almost a
break even position on charing, which was a whole lot
better than losing money, I guess. But it's yeah, I
don't think, Percy. I don't think you're going to see
a mess of switched to you know, non wall bearing sheep.
Speaker 2 (21:56):
No. Well, Tom, have we been conditioned? I mean, if
someone had said that to you twenty or thirty years ago,
you'll break even on your wall and sharing costs, you
would say, bugger that I'm not having a having a
bar of that, so you do have to wonder, with
the reduced labor input that some of these self shedding
or non wooll producing sheep have, that it may just
(22:16):
be the way to go, which is a tragedy because gee,
you only got to go back to the nineteen fifties.
One was their biggest single export.
Speaker 3 (22:25):
Yeah, yeah, well, I guess you're right, But I do
think you know, if you've got to if you've got
a particular breed, or you've got the genetics there of it,
or whatever you're doing on your farm, jumping in and
out of markets is not the clever or changing what
you're doing in a hurry is not They're clever. A
long long time ago, I used to work in rural
banking and one of the things that was sort of
(22:46):
you could see the beginning of the end was people
would change stock policies or make radical changes because they
thought they'd get on the next way. But if you
sort of get out of something when things are struggling,
you tend to give one class a stock away and
then overpay getting into the next class. So I think
you will be a little bit considered before you radically
change farming policy.
Speaker 2 (23:06):
Don't talk to me about goats in the nineteen eighties time.
It's still a sore point.
Speaker 3 (23:10):
You know, you lost a bit of money here, did Jamie?
Speaker 2 (23:12):
No, I lost a bit of sweat sharing them from
a mate across the road. It's a long story. Don't
start me on goats, but I know a lot of people.
I know a lot of people did lose a bit
of money on them as well. Hey, thanks for your time,
and long may the lamb price, the mutton price, and
the beef price stay where they are at the moment.
It's good.
Speaker 3 (23:33):
Thanks for that talk.
Speaker 2 (23:34):
Next time, chairs, Tom And it's twenty five away from
one near with the Country brought to you by Brant
just st arup dating the golf from TPC Sawgrass and
Florida or Florida. Of course, they've run out of daylight basically,
so an extra day and a playoff will be needed
to decide the champion at the At the Players Championship
in Florida, Rory McElroy and JJ spond have both part
(23:57):
the seventy second hole to finish. Tide are at the
top twelve underpar. The final round finish late after a
four hour delay due to lightning, so the playoff tomorrow morning.
It'll be early hour time. Up next the latest and
rural news, sports news before the end of the hour.
Earlier this morning, I caught up with Chris McCullough, an
(24:20):
Irish journalist AG journalist. Am I going to see if
we can get you some rain with Phil Duncan from
weather Watch. Now welcome back to the country. Very shortly
(24:40):
the latest and rural news and sports news. But Matt
Dally and Wade Bell, hosts of the Feed for Thought podcast,
are taking their show on the road with mattin Wade's
Rural Roady, a nationwide tour across New Zealand. The three
week tour features industry experts, in depth discussions, networking opportunities
and the chance to step off the farm. So whether
(25:02):
you're a farmer, grower, contractor consultant or rural professional, mattin
Wade's Rural Roadie offers something for everyone, and with Feed
for Thought entering its third season and Pioneers celebrating fifty
years in New Zealand, the duo saw this as the
perfect time to hit the road. The tour kicked off
with an event in the Hierarchy Plaines. Today are takes
(25:24):
in Morerinsville tomorrow, surfing for Farmers in Raglan on Wednesday.
Later this week, the team will be on farm and
repor Roa. As with any good rural road trip, stops
include giveaways, Barista made coffee and free lunches. The full
tour schedule is available at Pioneer dot co dot.
Speaker 1 (25:41):
Nz, the country's world news with Cob Cadet, New Zealand's
leading right on Lawnbower brand. Visit steel Ford dot co
dot nz for your local stockist.
Speaker 7 (25:53):
The finalist for the twenty twenty five are Hoho Finua,
Mary Young Farmer Awards have been announced, Kobe Warmington, a
farm manager from Waimar Topu Beef and Tokro, Grace Watson,
a shepherd general at Very Farming Limited and Tekwitti and
poo here Ready toe Head so toe Head Shepherd at
per Tire Station and Tolga Bay are All three of
(26:14):
them have been announced. The winner will be the Big
Winner will be announced at Palmston North on the sixth
of June and continuing the themes of the awards season
really around farming, the Regional Supreme Winner for the Balance
Farm Environment Award and the Bay of Plenty region was
announced on Friday afternoon. Tip Kiwi Fruit Growers, Bled Daya
and Steve Atkinson of Kiwi Heights where the supreme winners
(26:35):
on the day and they will now join the growing
list of supreme regional winners that will vie for the
Gordon Stephenson Trophy in June. The next two regionals to
be announced in Northland on the nineteenth of March and
Auckland on the twentieth. And that's your rural news. You
can find more at the Country dot co dot nz Sport.
Speaker 1 (26:52):
We're the nth go Kiwi to the Bone since nineteen
oh four, as I.
Speaker 2 (26:56):
Said before an extra day in a playoff where we
needed the decide winner of the Champions Players Championship in Florida.
So basically tomorrow morning, a US time, Rory McElroy and
JJ Spahn will go head to head in a three
whole playoff. As we understand it are sixteen, seventeen and eighteen.
What great viewing of that will be. New Zealand's push
(27:18):
for victory at the sale GP Regatta in Los Angeles
has been foiled. That's a clever play onwards, finishing second
behind Canada in the final race and the New Zealand
Cricket Players Association claims the governing body has apologized to
Jimmy Nisham, fin Allen and Tim Seifert for suggesting they'd
be available to play the build up series in January
(27:42):
for next year's T twenty World Cup. The casually contracted
Trio have been selected for the series with Pakistan, but
Alan and Seifert already have Big Bash League commitments next
year in one of several concurrent competitions. That's Sports News
Up next. Earlier this morning, we went to Rural Ireland,
(28:03):
Rural Northern Ireland and caught up with our irishman for
the day, Chris McCulloch, an agg journal It is Saint
Patrick's Day here in New Zealand. In Ireland, it's Sunday evening,
Saint Patrick's Day for them tomorrow. But we thought we'd
(28:23):
get an Irish voice on the show, so we're going
to chat to Chris McCullough. He's a freelance multi media
journalist based in Belfast, Northern Ireland, and Michelle was telling
me earlier this morning Chris that Saint Patrick's Day is
not such a big deal for the locals in Ireland.
It's more about the tourism.
Speaker 5 (28:44):
Well, it's you know that we do have some celebrations
in the bigger cities, some prians and some different things
happening in programs happening. But yes, it's quite a tourist
attraction in any city opening the round the world. But
over here, yes, for os Segas business, no normal day
here tomorrow. Are in the semi rural area where we are.
(29:05):
I mean we'll not see in green flu and baskets
at the long Grass.
Speaker 2 (29:08):
Oh well, and Rory McElroy is doing all right on
the Grass and Florida at the moment, I think, well
he is. As we record this, he's leading the fifth
major of the Players Championship, so that would be a
good result if he can bring that one home for Ireland.
So what's a normal day at the office for Irish
farmers on Saint Patrick's day? Sir kaya Stalmer is doing,
(29:28):
you guys in Northern Ireland no good at all.
Speaker 5 (29:32):
He's doing nobody, no good at of and what we
can from what we can tell, he's cutting things left,
right and center and it's got their stage now, Jimmy.
Where farmers in England and Scotland are actually saying the
labor government and Kier Starmer he hits farmers, which is
a hell of a strong word, but that's how sentiment
has gone towards him these days, with all his cuts
(29:54):
and Hardin's tax His leyas cut is a multi billion
pound green farm program that saw farmers planting wild meadows,
looking after a hedge rows, etcetera, etcetera. He's taken that
off the cards, off the table, and there is concern
that he's going to do some of the our subsidies.
Speaker 2 (30:14):
The inheritance tech basically kills farm succession and the ability
for farmers to hand down or no, you don't hand
down the farm, but to transition the farm from one
generation to another.
Speaker 5 (30:26):
Correct, that's right, So not popular at all.
Speaker 2 (30:29):
He seems to be peacocking awey bit on the world stage, though.
Speaker 5 (30:33):
He's I think he's going to get knocked off his
podium very soon. He's just mouthing a wee bit too
much from what he can is able to deliver, you know,
in terms of a lot of things politically, and he's
leaving his let's call him servants over here to deliver
even more bad news to the farmers while he stands
(30:54):
in Saudi Arabia or wherever he is trying to make
himself popular, but he's so unpopular will be popular.
Speaker 2 (31:01):
We're heading into our autumn here in the Southern Hemisphere,
it follows that you're heading into your spring and the
northern hemisphere. Hew's the winter been for farmers on island.
Speaker 5 (31:12):
It hasn't been too bad, you know these days is
we have a lot of sunshine. It's sticking around twelve
degrees ten to twelve degrees. It's pretty cold that we
touch a frost in the morning. But we haven't seen
rain for a couple of weeks. And I think there's
a little bit common this end of this end of
this week coming in. But the farmers are working away.
(31:32):
The slurry barn is off, so the slurry is full
speed ahead at the moment, and the farmers are getting
the food is ready for whatever harvests or crops are
planning to get in. But a bit of heat, we'll
see a bit of grass coming in. The cause of
the out.
Speaker 2 (31:45):
Are Irish farmers and they will be concerned about what's
happening in mainland Europe with foot and mouth disease.
Speaker 5 (31:53):
Absolutely absolutely is the dreaded the dreaded talk again about
this foot and mouth disease has just had another right breck,
this time on a fourteen hundred cattle farm on the
Hungary Slovakian border, and all of a sudden, the countries,
including the UK, have banned all imports from Hungary and Slovakia.
(32:15):
It appeared about a month ago in Germany as well
on water Buffalo that time. But if it keeps doing uplegus,
I mean, where's it going to end? Is this going
to get worse again? Back to two thousand and one?
Speaker 2 (32:26):
I hope not for your sake. The other big threat
for farming, for agriculture out there in the world over
is Donald Trump's terrace. Ireland, like New Zealand, a strong
dairying nation. You'll be keeping your fingers crossed that he
calls as jets abid.
Speaker 5 (32:42):
Yeah, the Irish have a big, big export market into
the US dairy situation. I mean, there's one of the
butter brands here seems to put pump a lot of
stuff into there, and it's North America and Europe is
the biggest outlet for Irish potter. But if these tariffs
come in, we could be seeing a failure of our
of the Southern Irish body market dairy market and New
(33:05):
Zealand may even get in there and take over from us.
Speaker 2 (33:08):
Chris McCulloch, thank you very much for your time. No
doubt tomorrow Monday, Irish Time you will have a guinness.
You couldn't get through Saint Patrick's Day without a guinness.
Speaker 5 (33:17):
I don't like the stuff whatsoever. It should be used
for Phil and Paul.
Speaker 2 (33:22):
First time I tasted it, I thought it was horrible.
But spending a week in Ireland, by the time I
left your wonderful country, I developed quite a taste for it. Hey,
thank you very much. That's because I like bear. Chris
McCullough out of Northern Ireland. Thanks for your time.
Speaker 5 (33:37):
No worries Jeers Jari, Yeah, good bloke.
Speaker 2 (33:40):
Caught up with them a wee bit earlier this morning.
Some of your feedback on the goats, It's got to
be careful what you say about goats. I've been in
trouble for saying bad things about goats in the past. Yes,
so what do you reckon? I've got Michelle posts.
Speaker 7 (33:53):
I think you might have a been of PDSD from
your goat sharing days mine. I told you a story
about your neighbor's goats, and they all used to escape
over to our house and.
Speaker 2 (34:01):
Be out side car the door. You can't keep the
buggers in because I'll tell you the goat sharing story.
My cousin and best mate Billy across the road got
into goats, and he said to me, you can share
my goats because I was a bit of a sharer,
a farmer sharer. He really wasn't, so I'm sure as
goats for seven or eight years, for as long as
he had him. And he said, you can either I'll
(34:22):
either pay you in goats, or you can have a
big bottle of spates for every goat you share. And
if I had my time again, Michelle, if I had
my time again, I foolishly chose the goats.
Speaker 7 (34:34):
I was going to say, did you choose the goats?
Speaker 2 (34:36):
Because because I thought I would diversify because in the
eighties it was tough. What a mistake that was. Because
he had about fifty or sixty of them, so multiply
that by that's about three hundred and fifty bottles of spates.
I could have been filled.
Speaker 7 (34:51):
Like a caing forridge.
Speaker 2 (34:52):
Anyhow, someone says sorry, someone says it now is a
good time to get back into the goats. Fiber prices
remained strong for Mohir and always have done. And this
text that says, why not drop a few sheep, drop
a few sheep off your block and put a few
goats on rather than put a shedding sheep or a
ram over your cross bread us and bugger generations of breeding,
(35:13):
which is a fair point. A worst case, you can
easily breed back the capital stock if the goats don't
suit the system. So maybe I'm changing my mind on
the goats. No, I'm not up next fell Duncan on
the weather wrapping the country with Monday's whether Man fell,
(35:40):
Duncan fell. I'm looking at the drought index map. More
and more of the country's getting colored. And what have
you got for us? I know the South's going to
get some rain, what about the North?
Speaker 8 (35:49):
Yeah, Jamie, We've got a bit of rain coming through
with a classic autumn front coming up the country tomorrow
and that's going to bring some low pressure with it too.
So yeah, there should be some good rain around the
South Island and some parts of the North Island like Manaw'
two hot of Finer Work Company, maybe around parts of
Tanuki as well. They could be getting some rain, but
the further north you go it breaks apart. So that's
(36:10):
you know, we're on the New Zealand drought Index at
the moment. South Waikato, parts of Northwest Auckland and Southwest
Northland are in that drought zone technically, And like you say,
the very dry, extremely dry regions are growing. But the
top half of the North Island's not going to see
as much rain as the lower half of the North
Island well or the West Coast.
Speaker 2 (36:30):
Well, I'm assuming that to get a drought breaker for
the North Island, will it have to come from the tropics.
Speaker 8 (36:35):
Yeah, And so with a lot of high pressure for
the rest of this month, big high is still coming
on through. But what we're seeing now is there are
gaps behind these highs, and so what we're when a
high comes through the back end of it is got
the chance of getting a subtropical system or sub antarctic one.
That's what we're looking for end of March, start of
April getting one of those systems to come through and
it really drenks the ground.
Speaker 2 (36:57):
So in the meantime, what are we now mid March
effectively just over halfway through March. Is it going to
be for a lot of people drive for the remainder
of the month.
Speaker 8 (37:07):
Yeah, I think so. I think I think most places
will end the month drier than wetter. We do have
some rain around, like I say, coming in over the
next couple of days. It's going to be great for
some areas, but for a lot of those areas that
we just mentioned, they do need a proper rain. They
need a month's worth of rain, not not just a
week's worth of rain. So most areas are still below average,
at the top of the North Island and the east
(37:28):
of both of the main islands.
Speaker 2 (37:30):
Yeah, and we've also had some pretty hot temperatures.
Speaker 8 (37:33):
I know, crazy, it's like it does feel like a
real true Indian some of this year, dragging on right
through till April. Yeah, well, Fily, with those Northwesters coming
in today, that's for sure.
Speaker 2 (37:43):
Yeah okay, So, and I know, very hot and sticky
and muggy for many people, especially cold blood and southern
is like myself to try and sleep at night. But
never mind, Phil, that's my problem, not yours. Thanks for
your time, as always my pleasure. Good on you. There
we go, Phil Duncan, wrapping the Country for Hey Monday.
We'll be back again tomorrow. I think we're catching up
(38:04):
with Todd McLay and Damian O'Connor tomorrow, so we'll see
you then.
Speaker 1 (38:13):
Catch all the latest from the land. It's The Country
Podcast with Jamie McKay. Thanks to Brent, you're specialist in
John Deere construction equipment.
Catch all the latest from the land. It's the Country
Podcast with Jamie McKay thanks to Brent starkest of the
leading agriculture brands.
Speaker 2 (00:29):
Gooday, New Zealand. Welcome to the Country. It's brought to
you by Brant On Saint Patrick's Day, it's classic Irish
music from the Cranberries. I've got one eye on the
show and one eye on the Gulf. Northern Irishman Rory
McElroy bring home the fifth major on well Sir Patrick's Day.
Out time we'll come back to Rory in Sport. We're
(00:50):
going to kick it off with Richard McIntyre, Federated Farmer's
Banking spokesperson and man or two dairy farmer Autumn carving
and the drought. We'll see how he's getting on David's
emos running the country at the moment. In the absence
of the PM who's in India trying to get a
free trade deal and the Deputy PM Winston who's in
Washington trying to talk Trump out of tariff's we will
(01:11):
chat to Tom Young, who is National's AFC's National Livestock Manager.
Record returns for beef, vastly improved returns for Lamb and
Mutton prices. How long can they last?
Speaker 3 (01:26):
For?
Speaker 2 (01:27):
Earlier this morning I caught up with an Irish journey
just because we could on Saint Pat's Day, Chris McCulloch
and Northern Ireland and Phil Duncan on the weather. But
let's kick it off with Richard McIntyre, Federated Farmers Banking
spokesperson who's calling for the Reserve Bank to drop overly
conservative and growth restricting capital rules that are costing farmers
(01:49):
of fortune. That's an understatement of the year, Richard McIntyre.
They're being ripped off.
Speaker 4 (01:57):
Look city are at the moment, Jane. You know we're
being calling for this for there quite some time. In fact,
it was one of the main reasons that we actually
called for the Banking Quiry to assess not just what
the banks were doing, but what the Reserve Bank was doing,
which was making life hard for fun.
Speaker 2 (02:11):
Actually, I should apologize to the banks because they've got
to play by the rules that are set by the
Reserve Bank. So in twenty nineteen under Adrian Or the
banks moved from their old requirement was to hold enough
capital for a one on one hundred year financial event.
In twenty nineteen. Goodness knows why we decided that for
farmers or farming loans you had to hold enough capital
(02:35):
to withstand a one and two hundred year financial event.
And basically that's added fifty to one hundred basis points
to agricultural loans across the board, about one percent.
Speaker 4 (02:47):
Yeah, that's great. So that's a huge about and we
think that Adrian Oil was just way, way, way too conservative.
You know, the equivalent here would be that if you ensured,
you know, absolutely everything you own a zero excess. No
one does that because it's just far too costly for
the benefit. But that's what Adrian or had chosen to do.
And it was just effectively money that was going straight
(03:08):
out of the egg sector. We reckon about six hundred
million a year straight out of the egg sector and
effectively overseas to where the banks get their money from.
And you think about what that money could be used for,
you know, by farming businesses, you know, either paying down debt,
spending it on infrastructure, et cetera within rural communities, or
you know, anything like that.
Speaker 2 (03:27):
Paying tax on increased profits would be one thing, and
that would help the economy. You're suggesting at farm level.
It's an eye watering forty four thousand dollars of extra
interest payments for your average farmer that comes straight off
their bottom line.
Speaker 4 (03:42):
Yeah, that's so based on our last feder and farmer's
banking So members were telling us that that's there. Ye,
they're based on the average debt that would this will
save forty four thousand dollars for every every farming business
on average.
Speaker 2 (03:56):
Though, and once again, I don't want to sound like
a patsy for the banks here, but but surely farm
loans more risky than house loans. Well, they certainly less liquid.
Put it that way.
Speaker 4 (04:10):
Yeah, look, that's what we keep getting told. But you know,
from everything I've seen, I'm not convinced that farmlands present
a significantly greater risk than in the other form of wending.
You know, it was certainly not enough to be charged
the risk premiums that we are. You know, if you're
think of what's happened over the last of the ten
to fifteen years, we've had quite its multu cycle with
you know, recessions, droughts, marketplace of overs, COVID, high interest rates,
(04:33):
low commodity prices, all that stuff, And so it really
begs the question, you know, if agdates that much risk
he is, so, then how much has the how much
of the bank's actually lost on rual loans during that period.
And what was fascinating, you know during the banks presenting
to the sort of community for the banking inquiry is
it turns out that the banks have averaged less than
one farm per year going into receivership. So where's the
(04:57):
risk from agdet to the banks or to the financial
system to justify you know, this West premium that's being charged.
And it sort of goes back to what you know,
to what Cameron Bakery says. You know, banks are pricing
for a risk that they're not taking.
Speaker 2 (05:12):
Have we had a bit of a break in the traffic,
a lucky turn with Adrianaw's exit LL soon to be exit.
Speaker 4 (05:20):
Yes, I certainly would say this is very fortuitous for farmers,
and I'd argue that the economy in general, to be fair,
you know, hopefully we can get a new Reserve Bank
governor that is a little bit more focused on economic
prosperity and a little less conservative. You know, obviously we
still want to have a resulted financial system. But look
at one and two entergy of financial event is just
(05:41):
too high a drag on the economy and the most
productive seenter.
Speaker 2 (05:45):
Absolutely well, good luck with that one. Good luck petitioning
the new governor of the Reserve Bank, whoever he or
she might end up being Richard McIntyre. When you're not
doing that for Federated Farmers, you're the dairy spokesperson. That's
because you're a cow. Your autumn carving. You are a
sucker for punishment. That means milking basically all year round,
(06:06):
doesn't it.
Speaker 4 (06:08):
Yeah, it does, it does. But like the awkward is
like having milk in their coffee. So and they're prepared
to pay me a bit more for it, so I
do it.
Speaker 5 (06:14):
I suppose.
Speaker 2 (06:15):
How are you getting on autumn carving and a drought.
Speaker 4 (06:19):
Yeah, this is always the risk with the autumn carving,
you know, when it doesn't rain and you don't have
any protein to feed your cares. Basically it's a little
bit of a challenge. To be fair, we are feeding
out you know a huge amount of supplement at the moment,
a lot of high quality you know, protein meals and
the likes, just to sort of keep these guys going
because it's the start of their actation. And if you
(06:39):
get it wrong now, it's it's all appealed from there.
So yeah, bit of work going in with with myself
and the staff to keep it going. But look, bit
of rain soon we'll get some grass and we'll be
away from there.
Speaker 2 (06:50):
And daughter's eighteenth birthday today, you want to give her
a shout out.
Speaker 4 (06:54):
Look, I'd love to look. You know, my daughter Earlily
at eighteen today, you're happy birthday. Look, she's Jamie. She's
growing into such a great young lady and she's going
to be such an awesome adult. So just wish all
the best for today and into the future.
Speaker 2 (07:09):
You sound like a really proud dad, Richard McIntyre. Good
on you very much. So yeah, and girls, cause girls,
I'm only speaking from personal experience here in our family.
They cause a lot less grief than the boys.
Speaker 4 (07:23):
They certainly can do. But yeah, they can cause it
of grief of their own though.
Speaker 2 (07:27):
All right, Richard McIntyre, thank you very much for your time.
You guys at Federated Farmers, keep up the good work
and keep holding you know, the feet of the Reserve
Bank to the flames on this one, because I reckon
if Farmers played paid one percent less across the board.
That would really benefit the economy, especially in a year
like this where farmers will be paying meaningful tax.
Speaker 4 (07:48):
Oh look, this is so important to the accept the Jamie.
We've just got to get this over the one.
Speaker 2 (07:53):
Okay, there we go, Richard McIntyre, I've managed to blunder
want my way through that interview. Michelle's just shaking her
head because I'm kind of listening to Richard and not
really listening to Richard. I'm useless. I admit Spawn has
a part to win. Yes, this is his third shot.
He's on the greend for two. I'm that very tricky
eighteenth at TPC Sawgrass. This is a part to win,
(08:16):
my goodness, to win the players championship. He has left
it literally two inches short. So I'm assuming we go
to a playoff with Rory. More about that later up
next though, a David Seymour who's running the country at
the moment, in the absence, of course, of Winston who's
in Washington, and the PM who is in India. I've
(08:39):
heard us Sidu from he is running the country today
or for the next couple of days anyhow, Acting Prime
Minister and act leader David Seymour, David why don't you
just do a Trump and put an end to school
lunches while Winston and Luxeon are away.
Speaker 6 (09:00):
Well, the main reason is that we, first of all,
have government policy, and we do want to keep the
coalition together. I don't think it'll work very well if
everyone just changes the rules when the other two are away.
The second thing is, besides wanting a bit of stability,
we've got a legally enforceable contract with the people delivering
(09:20):
the lunches, so we have to pay them out. So
there's a few reasons, but I sometimes wonder if that
mightn't be the best thing to do. Seventy five percent
parents making their kids lunches on school days and presumably
one hundred percent of pearance on the other one hundred
and eighty days a year in schools are closed, so
it is a pretty tempting thing, but we've got to government.
Speaker 2 (09:42):
Yeah, okay, well, here's an idea for you. You're doing
these school lunches on the cheap for three bucks, and
good on you for cutting the cost of them, even
if they may not be edible. But why not just
be more targeted David in your approach? Why not just
go to the lower decile schools and say here's three
dollars ahead to subsidize lunch for the kids who don't
(10:03):
have a lunch when they come to school. Because you
can't tell me that twenty seven percent of the kids
in New Zealand going to school need the state to
give them a lunch.
Speaker 6 (10:13):
Well, first of all, I can't let you get away
with that last jab. We get lots of feedback from
a lot of people who say they're not only edible,
but are better than the old system. Strangely, those people
don't seem to be getting featured on the news. I
can't work it out either. As far as the targeting,
we basically inherited the last government's policy. You know, I
(10:33):
campaigned to get rid of the whole thing. Our coalition
wants to keep it. I'm now signed up to the
government policy and in one of the life's great ironies,
i'm the guy responsible for making it work. As the
Education Associate Education Minister say them's the breaks. Should it
be targeted differently? Yep? I think they're a really good
argument for that. And once we've studied the ship as
(10:55):
it currently is, and it is getting better each day
for reasons that we are improving it every day. We
will be able to start asking these other questions like
do we need to fund it for every single care
at every single school. I think those questions are worth answering.
Speaker 2 (11:12):
Federated Farmers is calling for the Reserve Bank to drop
overly conservative and growth restricting banking capital rules that are
costing farmers dearly. See Adrian or came in and in
twenty nineteen we had to hold or the banks had
to hold enough capital to withstand a one and two
hundred year financial event. So basically they went from one
(11:33):
hundred to two hundred years. So basically that's added one
percent across the board to farmers' mortgages. And you think
of all that money that would be sloshing around in
the system. If farmers had to pay one percent less
on their mortgage, for instance, it would improve the country's
tax take immeasurably.
Speaker 6 (11:54):
Yeah, so few things about that. First of all, just
acknowledge Mike Cameron chearingly Primary Production Committee in the way
that he's been dogged on this issue. Second of all,
I used to think Rob Muldoon was New Zealand's most
expensive citizen. Then Brant Robertson came along and I thought, no,
it's him, But I actually think it might be Adrian
(12:16):
all because the cost he's put on this country is enormous.
Then again, he was appointed by Grant Robinson, so I
guess we can say it's Grant. The fact that having
gold plated capital requirements at our banks has pushed up
the cost of borrowing and therefore the cost of capital
right through the economy. It's at agriculture particularly hard. I
(12:37):
was against it back in twenty nineteen when I was
sitting on the Finance and Expenditure Committee. I said to Adrian,
why do we need this? He said, in case there's
a crisis next year. We had COVID the whole world
done after two years. And what did he do? He
suspended the requirements while we went through the crisis. After
the crisis, I said, well, we got through a crisis
with the current rules, so we're sure we still need
(12:59):
to raise capital vatuios And he said, yeah, we're now
going to start raising them again. There's never been any
logic to these capital requirements not necessary. And I'm pleased
to see Nikola Willis, who is the new Grant Robertson
in the sense she's the Finance minister much more careful
with our money, is talking pretty loudly about bending the
(13:20):
Reserve Bank on this. So we get some sensible capital
requirements and I've certainly looked into it as Minister of Regulation.
We got some advice ready to go. So watch this
space on the capital requirements, is what I'd say.
Speaker 2 (13:31):
David Seymour. Let's just quickly finish on where we started
this conversation. Christopher Luxon is in India trying to get
a free trade agreement or part of one. Winstonce in
Washington trying to talk Trump out of Tariff's both doing
really good work on the world stage. Now that's good,
but come, I don't know. Mid twenty twenty six, is
it going to be every man for himself and the
(13:54):
coalition as you all try and cannibalize each other.
Speaker 6 (14:00):
I don't think so. I think each party can point
to a group of voters that partly overlap, but not
as much as you think. And we actually poll this
really closely. So there are people who support Act TO
are sitting there saying, look, we're basically open and tolerant people,
but we don't think identity politics is very open or tolerant.
We want to go a bit faster on economic reform.
(14:24):
The other two parties don't really play in both those fields.
They have their things they go for and possibly people
who support them aren't into act. That's fine. So look,
I think what most people will be looking for in
twenty six as can you re elect the coalition? Can
you re elect a stable government? Because the alternative just
(14:47):
doesn't be thinking about it. I saw them someone the
other day said they were talking to a political old
timer who told them, look, if the other guys get
in twenty six, you know, three years of and Bevin
a packer, and Chloe Swarbrick, who I just think is
increasingly unhinged in her policy pronouncements, she'll be making more.
(15:10):
And David's look like the sistible one. And then you've
got Preciptions who has the ability to screw up anything,
and he's the sensible winchpin. And that coalition now, someone
said after three years of that it will be irrecoverable.
So I suspect that what each of the three parties
in coalition will be doing is campaigning to get the
(15:31):
coalition re elected. And certainly my viewers ex job is
to keep the government. But b make it better by
making them go faster on the economic reform deregulation climate
and having an honest conversation about citizenship, while we also
do some things in education, like charter schools that give
people a bit more opportunity.
Speaker 2 (15:51):
All right, we've got to go. I think a lot
of people might vote ABR anything but wary and this
weed wacker. Well we'll leave that one, David's more. Thanks
for your time, No worries, Jamie.
Speaker 6 (16:02):
You have a great take.
Speaker 2 (16:04):
Well, David, twenty six after twelve you are with the country.
Some are your feedback so important to support federated farmers
working hard for farmers and costing our farm ten times
less than dairy in Zed, says Jeff. Well, that's a
bit tough on dairy in Zed. Didn't realize they cost
ten times as much as federated farmers. Also, and this
(16:25):
is a good point. Many farmers will be carrying a
tax loss this year, Jamie, So tax take may not
be as good as you think. Yeah, especially, I mean
I don't think many sheep farmers made any money. Most
of them lost money last year, so they'll be carrying
tax losses Ford. I think some of the dairy farmers, however,
will be in a position to pay tax this year
(16:45):
and certainly over the next couple of years. Of the
payout is around the ten dollars, not to mention the
cash influx, although it's tax paid from the dividend. So
better times ahead. Now we'll move from Derry. Will segue
from Derry on to meet Red Meat next time. Young
from ATHCO. As far as the Players Championship at TPC
(17:08):
Sawgrass is concerned, we understand that they are heading to
a three hole playoff sixteen, seventeen and eighteen, three of
the great holes in golf, so we'll keep you updated
on that one as well, But up next time. Young
(17:35):
Tom Young is afco's National Livestock Manager, based out of
the Hawk's Bay Time where they tell me are like
the rest of the North Island. You're starting to get
a bit dry.
Speaker 5 (17:44):
Yeah, hi Jamie, Yeah, we sure are.
Speaker 3 (17:46):
So you have been traveling around a wee bit recently
and hawks play is dry sort of I've been able
to want to know, that's that's pretty cock now, why Kadow?
Speaker 6 (17:55):
And also I.
Speaker 3 (17:55):
Think it's sort of quite general now and then obviously
down South Island and down to the Wanaka Shaw a
week or two back and it was very dry around
that area as well.
Speaker 2 (18:05):
Yeah, are the rains will come? Now? Will the tariffs come?
And what's plan B? What's Plan B for New Zealand
meat companies if we get hit with the Trump tariff?
Speaker 3 (18:16):
Well, look at the moment, things are going okay. So
markets are firm, and I guess it's reflected some pretty
pretty good pricing that farmers are enjoying at the moment.
I mean, I had a pretty good discussion with one
of our sales guys this morning about Trump, and he said, well,
what will be will be. We can't control Hume, but
he can obviously change his mind from one day to
(18:36):
the next. But we think, we don't think there are
too many issues just yet. But I think, as I've
pointed out to you before, sort of two to three
months ahead of ourselves, as can be a long time
in this business.
Speaker 2 (18:47):
The US is now our biggest market for red meat.
We surely can't redirect that product to other places around
the world.
Speaker 3 (18:55):
Well, you'd be surprised that we can do. I mean,
if you go back to when China was probably one
of New Zealand's biggest out leads for meat and then
they came out of COVID.
Speaker 5 (19:04):
And buy what they were buying.
Speaker 3 (19:06):
We found homes for a lot of meat that was
going to China, So I think there's always a way
around everything, So I wouldn't panic just yet.
Speaker 2 (19:14):
Record beef prices. We hear that it will take the
US three or four years to rebuild their beef herd.
Does that mean these record prices or very good prices
are here to stay for the next three or four
seasons or am I being way too optimistic?
Speaker 3 (19:32):
Well, I don't know if you're being optimistic, but I
think it's as I've seen before, it's very hard to
predict the future in the meat game. So you know,
I've heard these sorts of future predictions before, and then
somehow or other, some extra meat seems to be produced
in South America or whatever. So like i'd say, you
look steady, steady for the next two to three months
into the future, but I would want to bet two
(19:55):
three years out. But yeah, it's certainly looking okay, But
I don't want you to hang with that statement that
everything looks great for two years.
Speaker 2 (20:02):
Joing, how you surprised Tom Young how well LAMB has
held up this season?
Speaker 3 (20:09):
Yes, here we are. I mean, we started to push
on getting some sort of value back into the farmer's
pocket back in September last year, so we put a
contract out. I think it wasn't about July or August.
I can't recall the exact time, but we decided at
an f CO level, at a board level, that we
needed to get some confidence back into the game because
it was getting dire. We put a guaranteed minium price
(20:31):
out I think it's even sixty in September. And as
it turned out, the market's improved quite quickly and that
price became reality. And now we're sort of all sitting
on eight dollars and better. And what's good about it
is it's been stable the last few months and there's
no reason at this point in time that we think
too much is going to change. So if you've got
a good lamb An eighteen nineteen twenty ko Lamb at
(20:52):
eight on dollars, you're sort of you're getting well paid,
which is nice to see.
Speaker 2 (20:56):
Yeah, one fifty one sixty dollars. I was playing golf
yesterday with some sheep farmers from Riversdale who were licking
their wounds after their three but trip too I might add, Tom,
but they were reasonably happy with the returns for meat
and not so not so with wool. Do you think
that we're in danger of becoming a sheep breeding nation
(21:16):
that breeds sheep without wool.
Speaker 3 (21:20):
Well, in the last few years we've certainly seen a
few people change, I suppose in that direction with the
breeds that they are running. But I think I still
think there's a place for the traditional breed in New Zealand.
And it was it was only a month or two
ago from what I understood. If you still had a
better you know, if you had a better you know,
I guess what we use, and you had you know, good, good,
(21:40):
solid crossbred wall. You were starting to see almost a
break even position on charing, which was a whole lot
better than losing money, I guess. But it's yeah, I
don't think, Percy. I don't think you're going to see
a mess of switched to you know, non wall bearing sheep.
Speaker 2 (21:56):
No. Well, Tom, have we been conditioned? I mean, if
someone had said that to you twenty or thirty years ago,
you'll break even on your wall and sharing costs, you
would say, bugger that I'm not having a having a
bar of that, so you do have to wonder, with
the reduced labor input that some of these self shedding
or non wooll producing sheep have, that it may just
(22:16):
be the way to go, which is a tragedy because gee,
you only got to go back to the nineteen fifties.
One was their biggest single export.
Speaker 3 (22:25):
Yeah, yeah, well, I guess you're right, But I do
think you know, if you've got to if you've got
a particular breed, or you've got the genetics there of it,
or whatever you're doing on your farm, jumping in and
out of markets is not the clever or changing what
you're doing in a hurry is not They're clever. A
long long time ago, I used to work in rural
banking and one of the things that was sort of
(22:46):
you could see the beginning of the end was people
would change stock policies or make radical changes because they
thought they'd get on the next way. But if you
sort of get out of something when things are struggling,
you tend to give one class a stock away and
then overpay getting into the next class. So I think
you will be a little bit considered before you radically
change farming policy.
Speaker 2 (23:06):
Don't talk to me about goats in the nineteen eighties time.
It's still a sore point.
Speaker 3 (23:10):
You know, you lost a bit of money here, did Jamie?
Speaker 2 (23:12):
No, I lost a bit of sweat sharing them from
a mate across the road. It's a long story. Don't
start me on goats, but I know a lot of people.
I know a lot of people did lose a bit
of money on them as well. Hey, thanks for your time,
and long may the lamb price, the mutton price, and
the beef price stay where they are at the moment.
It's good.
Speaker 3 (23:33):
Thanks for that talk.
Speaker 2 (23:34):
Next time, chairs, Tom And it's twenty five away from
one near with the Country brought to you by Brant
just st arup dating the golf from TPC Sawgrass and
Florida or Florida. Of course, they've run out of daylight basically,
so an extra day and a playoff will be needed
to decide the champion at the At the Players Championship
in Florida, Rory McElroy and JJ spond have both part
(23:57):
the seventy second hole to finish. Tide are at the
top twelve underpar. The final round finish late after a
four hour delay due to lightning, so the playoff tomorrow morning.
It'll be early hour time. Up next the latest and
rural news, sports news before the end of the hour.
Earlier this morning, I caught up with Chris McCullough, an
(24:20):
Irish journalist AG journalist. Am I going to see if
we can get you some rain with Phil Duncan from
weather Watch. Now welcome back to the country. Very shortly
(24:40):
the latest and rural news and sports news. But Matt
Dally and Wade Bell, hosts of the Feed for Thought podcast,
are taking their show on the road with mattin Wade's
Rural Roady, a nationwide tour across New Zealand. The three
week tour features industry experts, in depth discussions, networking opportunities
and the chance to step off the farm. So whether
(25:02):
you're a farmer, grower, contractor consultant or rural professional, mattin
Wade's Rural Roadie offers something for everyone, and with Feed
for Thought entering its third season and Pioneers celebrating fifty
years in New Zealand, the duo saw this as the
perfect time to hit the road. The tour kicked off
with an event in the Hierarchy Plaines. Today are takes
(25:24):
in Morerinsville tomorrow, surfing for Farmers in Raglan on Wednesday.
Later this week, the team will be on farm and
repor Roa. As with any good rural road trip, stops
include giveaways, Barista made coffee and free lunches. The full
tour schedule is available at Pioneer dot co dot.
Speaker 1 (25:41):
Nz, the country's world news with Cob Cadet, New Zealand's
leading right on Lawnbower brand. Visit steel Ford dot co
dot nz for your local stockist.
Speaker 7 (25:53):
The finalist for the twenty twenty five are Hoho Finua,
Mary Young Farmer Awards have been announced, Kobe Warmington, a
farm manager from Waimar Topu Beef and Tokro, Grace Watson,
a shepherd general at Very Farming Limited and Tekwitti and
poo here Ready toe Head so toe Head Shepherd at
per Tire Station and Tolga Bay are All three of
(26:14):
them have been announced. The winner will be the Big
Winner will be announced at Palmston North on the sixth
of June and continuing the themes of the awards season
really around farming, the Regional Supreme Winner for the Balance
Farm Environment Award and the Bay of Plenty region was
announced on Friday afternoon. Tip Kiwi Fruit Growers, Bled Daya
and Steve Atkinson of Kiwi Heights where the supreme winners
(26:35):
on the day and they will now join the growing
list of supreme regional winners that will vie for the
Gordon Stephenson Trophy in June. The next two regionals to
be announced in Northland on the nineteenth of March and
Auckland on the twentieth. And that's your rural news. You
can find more at the Country dot co dot nz Sport.
Speaker 1 (26:52):
We're the nth go Kiwi to the Bone since nineteen
oh four, as I.
Speaker 2 (26:56):
Said before an extra day in a playoff where we
needed the decide winner of the Champions Players Championship in Florida.
So basically tomorrow morning, a US time, Rory McElroy and
JJ Spahn will go head to head in a three
whole playoff. As we understand it are sixteen, seventeen and eighteen.
What great viewing of that will be. New Zealand's push
(27:18):
for victory at the sale GP Regatta in Los Angeles
has been foiled. That's a clever play onwards, finishing second
behind Canada in the final race and the New Zealand
Cricket Players Association claims the governing body has apologized to
Jimmy Nisham, fin Allen and Tim Seifert for suggesting they'd
be available to play the build up series in January
(27:42):
for next year's T twenty World Cup. The casually contracted
Trio have been selected for the series with Pakistan, but
Alan and Seifert already have Big Bash League commitments next
year in one of several concurrent competitions. That's Sports News
Up next. Earlier this morning, we went to Rural Ireland,
(28:03):
Rural Northern Ireland and caught up with our irishman for
the day, Chris McCulloch, an agg journal It is Saint
Patrick's Day here in New Zealand. In Ireland, it's Sunday evening,
Saint Patrick's Day for them tomorrow. But we thought we'd
(28:23):
get an Irish voice on the show, so we're going
to chat to Chris McCullough. He's a freelance multi media
journalist based in Belfast, Northern Ireland, and Michelle was telling
me earlier this morning Chris that Saint Patrick's Day is
not such a big deal for the locals in Ireland.
It's more about the tourism.
Speaker 5 (28:44):
Well, it's you know that we do have some celebrations
in the bigger cities, some prians and some different things
happening in programs happening. But yes, it's quite a tourist
attraction in any city opening the round the world. But
over here, yes, for os Segas business, no normal day
here tomorrow. Are in the semi rural area where we are.
(29:05):
I mean we'll not see in green flu and baskets
at the long Grass.
Speaker 2 (29:08):
Oh well, and Rory McElroy is doing all right on
the Grass and Florida at the moment, I think, well
he is. As we record this, he's leading the fifth
major of the Players Championship, so that would be a
good result if he can bring that one home for Ireland.
So what's a normal day at the office for Irish
farmers on Saint Patrick's day? Sir kaya Stalmer is doing,
(29:28):
you guys in Northern Ireland no good at all.
Speaker 5 (29:32):
He's doing nobody, no good at of and what we
can from what we can tell, he's cutting things left,
right and center and it's got their stage now, Jimmy.
Where farmers in England and Scotland are actually saying the
labor government and Kier Starmer he hits farmers, which is
a hell of a strong word, but that's how sentiment
has gone towards him these days, with all his cuts
(29:54):
and Hardin's tax His leyas cut is a multi billion
pound green farm program that saw farmers planting wild meadows,
looking after a hedge rows, etcetera, etcetera. He's taken that
off the cards, off the table, and there is concern
that he's going to do some of the our subsidies.
Speaker 2 (30:14):
The inheritance tech basically kills farm succession and the ability
for farmers to hand down or no, you don't hand
down the farm, but to transition the farm from one
generation to another.
Speaker 5 (30:26):
Correct, that's right, So not popular at all.
Speaker 2 (30:29):
He seems to be peacocking awey bit on the world stage, though.
Speaker 5 (30:33):
He's I think he's going to get knocked off his
podium very soon. He's just mouthing a wee bit too
much from what he can is able to deliver, you know,
in terms of a lot of things politically, and he's
leaving his let's call him servants over here to deliver
even more bad news to the farmers while he stands
(30:54):
in Saudi Arabia or wherever he is trying to make
himself popular, but he's so unpopular will be popular.
Speaker 2 (31:01):
We're heading into our autumn here in the Southern Hemisphere,
it follows that you're heading into your spring and the
northern hemisphere. Hew's the winter been for farmers on island.
Speaker 5 (31:12):
It hasn't been too bad, you know these days is
we have a lot of sunshine. It's sticking around twelve
degrees ten to twelve degrees. It's pretty cold that we
touch a frost in the morning. But we haven't seen
rain for a couple of weeks. And I think there's
a little bit common this end of this end of
this week coming in. But the farmers are working away.
(31:32):
The slurry barn is off, so the slurry is full
speed ahead at the moment, and the farmers are getting
the food is ready for whatever harvests or crops are
planning to get in. But a bit of heat, we'll
see a bit of grass coming in. The cause of
the out.
Speaker 2 (31:45):
Are Irish farmers and they will be concerned about what's
happening in mainland Europe with foot and mouth disease.
Speaker 5 (31:53):
Absolutely absolutely is the dreaded the dreaded talk again about
this foot and mouth disease has just had another right breck,
this time on a fourteen hundred cattle farm on the
Hungary Slovakian border, and all of a sudden, the countries,
including the UK, have banned all imports from Hungary and Slovakia.
(32:15):
It appeared about a month ago in Germany as well
on water Buffalo that time. But if it keeps doing uplegus,
I mean, where's it going to end? Is this going
to get worse again? Back to two thousand and one?
Speaker 2 (32:26):
I hope not for your sake. The other big threat
for farming, for agriculture out there in the world over
is Donald Trump's terrace. Ireland, like New Zealand, a strong
dairying nation. You'll be keeping your fingers crossed that he
calls as jets abid.
Speaker 5 (32:42):
Yeah, the Irish have a big, big export market into
the US dairy situation. I mean, there's one of the
butter brands here seems to put pump a lot of
stuff into there, and it's North America and Europe is
the biggest outlet for Irish potter. But if these tariffs
come in, we could be seeing a failure of our
of the Southern Irish body market dairy market and New
(33:05):
Zealand may even get in there and take over from us.
Speaker 2 (33:08):
Chris McCulloch, thank you very much for your time. No
doubt tomorrow Monday, Irish Time you will have a guinness.
You couldn't get through Saint Patrick's Day without a guinness.
Speaker 5 (33:17):
I don't like the stuff whatsoever. It should be used
for Phil and Paul.
Speaker 2 (33:22):
First time I tasted it, I thought it was horrible.
But spending a week in Ireland, by the time I
left your wonderful country, I developed quite a taste for it. Hey,
thank you very much. That's because I like bear. Chris
McCullough out of Northern Ireland. Thanks for your time.
Speaker 5 (33:37):
No worries Jeers Jari, Yeah, good bloke.
Speaker 2 (33:40):
Caught up with them a wee bit earlier this morning.
Some of your feedback on the goats, It's got to
be careful what you say about goats. I've been in
trouble for saying bad things about goats in the past. Yes,
so what do you reckon? I've got Michelle posts.
Speaker 7 (33:53):
I think you might have a been of PDSD from
your goat sharing days mine. I told you a story
about your neighbor's goats, and they all used to escape
over to our house and.
Speaker 2 (34:01):
Be out side car the door. You can't keep the
buggers in because I'll tell you the goat sharing story.
My cousin and best mate Billy across the road got
into goats, and he said to me, you can share
my goats because I was a bit of a sharer,
a farmer sharer. He really wasn't, so I'm sure as
goats for seven or eight years, for as long as
he had him. And he said, you can either I'll
(34:22):
either pay you in goats, or you can have a
big bottle of spates for every goat you share. And
if I had my time again, Michelle, if I had
my time again, I foolishly chose the goats.
Speaker 7 (34:34):
I was going to say, did you choose the goats?
Speaker 2 (34:36):
Because because I thought I would diversify because in the
eighties it was tough. What a mistake that was. Because
he had about fifty or sixty of them, so multiply
that by that's about three hundred and fifty bottles of spates.
I could have been filled.
Speaker 7 (34:51):
Like a caing forridge.
Speaker 2 (34:52):
Anyhow, someone says sorry, someone says it now is a
good time to get back into the goats. Fiber prices
remained strong for Mohir and always have done. And this
text that says, why not drop a few sheep, drop
a few sheep off your block and put a few
goats on rather than put a shedding sheep or a
ram over your cross bread us and bugger generations of breeding,
(35:13):
which is a fair point. A worst case, you can
easily breed back the capital stock if the goats don't
suit the system. So maybe I'm changing my mind on
the goats. No, I'm not up next fell Duncan on
the weather wrapping the country with Monday's whether Man fell,
(35:40):
Duncan fell. I'm looking at the drought index map. More
and more of the country's getting colored. And what have
you got for us? I know the South's going to
get some rain, what about the North?
Speaker 8 (35:49):
Yeah, Jamie, We've got a bit of rain coming through
with a classic autumn front coming up the country tomorrow
and that's going to bring some low pressure with it too.
So yeah, there should be some good rain around the
South Island and some parts of the North Island like Manaw'
two hot of Finer Work Company, maybe around parts of
Tanuki as well. They could be getting some rain, but
the further north you go it breaks apart. So that's
(36:10):
you know, we're on the New Zealand drought Index at
the moment. South Waikato, parts of Northwest Auckland and Southwest
Northland are in that drought zone technically, And like you say,
the very dry, extremely dry regions are growing. But the
top half of the North Island's not going to see
as much rain as the lower half of the North
Island well or the West Coast.
Speaker 2 (36:30):
Well, I'm assuming that to get a drought breaker for
the North Island, will it have to come from the tropics.
Speaker 8 (36:35):
Yeah, And so with a lot of high pressure for
the rest of this month, big high is still coming
on through. But what we're seeing now is there are
gaps behind these highs, and so what we're when a
high comes through the back end of it is got
the chance of getting a subtropical system or sub antarctic one.
That's what we're looking for end of March, start of
April getting one of those systems to come through and
it really drenks the ground.
Speaker 2 (36:57):
So in the meantime, what are we now mid March
effectively just over halfway through March. Is it going to
be for a lot of people drive for the remainder
of the month.
Speaker 8 (37:07):
Yeah, I think so. I think I think most places
will end the month drier than wetter. We do have
some rain around, like I say, coming in over the
next couple of days. It's going to be great for
some areas, but for a lot of those areas that
we just mentioned, they do need a proper rain. They
need a month's worth of rain, not not just a
week's worth of rain. So most areas are still below average,
at the top of the North Island and the east
(37:28):
of both of the main islands.
Speaker 2 (37:30):
Yeah, and we've also had some pretty hot temperatures.
Speaker 8 (37:33):
I know, crazy, it's like it does feel like a
real true Indian some of this year, dragging on right
through till April. Yeah, well, Fily, with those Northwesters coming
in today, that's for sure.
Speaker 2 (37:43):
Yeah okay, So, and I know, very hot and sticky
and muggy for many people, especially cold blood and southern
is like myself to try and sleep at night. But
never mind, Phil, that's my problem, not yours. Thanks for
your time, as always my pleasure. Good on you. There
we go, Phil Duncan, wrapping the Country for Hey Monday.
We'll be back again tomorrow. I think we're catching up
(38:04):
with Todd McLay and Damian O'Connor tomorrow, so we'll see
you then.
Speaker 1 (38:13):
Catch all the latest from the land. It's The Country
Podcast with Jamie McKay. Thanks to Brent, you're specialist in
John Deere construction equipment.
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