October 15, 2024 • 36 mins
Rowena Duncum talks to Christopher Luxon, Cameron Bagrie, Mike Cronin, Blair McLean, Simon Bishell, and Lynda Coppersmith.
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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 (00:15):
Exactly what I'm looking for, because I'm looking forward some potas.
Speaker 3 (00:22):
Baking drug in this they know the.
Speaker 4 (00:28):
Lose my love.
Speaker 5 (00:31):
Man.
Speaker 3 (00:32):
I'm damn near now to my last down.
Speaker 4 (00:36):
I'm pretty good at breaking down.
Speaker 1 (00:39):
Hot.
Speaker 3 (00:41):
A very good afternoon, New Zealand. Welcome in to the Country.
My name is Rowena Duncan in for Jamie mckaig and
that is Post Malone featuring Lukecolm's guy for that the
request of our first guest on the show this afternoon,
the Prime Minister of New Zealand, Christopher Luxon, always a
country music fan. We know that we'll find out why shortly.
(01:01):
Still to come this hour, We've got quite a big lineup.
We've got Simon Bishall and Bleair Blizzard Macclaim giving us
a bit of a viticulture update, plus your chance to
win a couple of fun packs, one heading North, one
heading South. Linda Koppersmith as the CEO of New Zealand
Young Farmers. They kick into action this weekend. It feels
like we only just had Grand Final that was back
(01:22):
in July. We're now in the middle of October. District
Final number one getting underway this Saturday. Mike Cronin out
of Fonterra zero point three percent dip on the Global
Dairy Trade auction last night, HOMEWOROK part A steady though
no change for that. We'll find out what the numbers
tell us and what the markets are telling us as well.
Cameron Bagray are joining us very shortly, so obviously the
(01:45):
inflation figures are up, but we must head to Wellington
first of all. Here on the Country, well every Wednesday
on the Country, Prime Minister Christopher Luxon joins us. Good afternoon,
good afternoon, very well, thank you, enjoying standing in for
Jamie mackay stealing is yuked his house and his job
(02:05):
for two weeks. Life is good.
Speaker 6 (02:07):
I always think you do a better job than Jamie.
Let's not tell of me, no no, I.
Speaker 3 (02:11):
Mean, I definitely won't make this on repeat. When he
walks into his office when he gets back from New York.
Hat a lot happening, and we'll just actually start with
the US on that the US election fast approaching, which
is part of the reason why Jamie wanted to go
being a political junkie at this time in the cycle,
but how close and I are you keeping on the
(02:32):
happenings over there.
Speaker 6 (02:33):
Yeah, look, we're following obviously like everybody is. You know,
media reports and latest polling in different different swing states
and all of that good stuff. But you know the
reality is that's a really close election. America is pretty polarized,
and people are locking in their vote on each site.
The challenge for us is that, you know, we need
to be able to build a good relationship with either
Kamala Harris or Donald Trump, who have expected as president.
(02:55):
And I'm very confident that we'll do that. And that's
important because irrespective what listeners maybe thinking about who they support,
or who they like or who they don't like, all
of that's interesting to a point, but we need to
be able to do business and to be able to
get down to it with whoever the new president is.
Speaker 3 (03:09):
So we're probably not going to get you on the
record expressing how disturbing it whiles watching Trump get up
there and dance like I can say that.
Speaker 6 (03:20):
No, Well, look, I mean that'll be a decision for
the American people whether the dancing and influences their decisions
or not one way or another, who knows. But the
bottom line is it's really important that we can build
a good relationship with those that leader. But also, you know,
the American political systems really you know, broad and deep.
When I was in Washington, d c. Or in the year,
(03:40):
I made sure to go talk to senior senators and
congressmen and officials actually on the Democrat side and also
the Republican side, because you know, you might have a
one party that's got the presidence in another party that's
got the Senate or the Congress, and of course that
impacts how laws go through, and that's how they might
be thinking with respect to Trey need or security or
(04:01):
economic issues. You want to have influence and have relationships
across a border system just being reliant on the leader's
leader conversation and relationship as well. So you know, it's
a fascinating political system. As you say, it's going to
be a very close election. It'll be interesting what Jatipex
up and what has moved on the ground is from
his visits. But for us, yeah, we'll watch it closely.
But at the end of the day, our job was
to get on and advance new Zealand's interest with whoever
(04:23):
they choose as president.
Speaker 3 (04:25):
You're at home. Obviously the inflation figures out today within
the expected band, that must be reassuring.
Speaker 6 (04:32):
Well, the key thing for us is that how do
we get into this economic mess? Why as it people
are going through a tough time right now. Well, quite simply,
the last government increased selvement spending by eighty four percent.
They ran up the debt to over one hundred billion dollars,
They spent a lot, they borrowed a lot, and they taxpot.
What we've done has got government spending gripped up and
under control. That means that the Reserve Bank has then
(04:53):
had confidence to lower interest rates. That's because we're actually
through our the s collections of controlling spending. We're lowering inflation.
Inflation getting in the band is important and that gives
the Reserve Bank confidence to continue. It's downward tracked on
interest rates. You know, the last government had twelve infistrate rises.
We've had two interest rate decreases. If you just think
about an average person with a five hundred thousand dollars
(05:14):
mortgage on the people and farmers, they've got a lot
more and often paying a lot more on interest. But
the reality is already that seventy five bases point drop
that we've had already with the two cuts has actually
given people one hundred dollars a fortnight to freed up
in their pockets, and they're not paying the bank. That
makes a big difference to families that are really struggling
with food and fuel and just just daily living costs.
(05:36):
So the good news that it's got food inflations down inflations,
tracking down interest rates on a pathway downwards, which is good.
The Reserve Bank's got another opportunity to for Christmas and
also in February that will obviously their decision, but you
can see that we've locked into a downward trajectory and
interest rates. The other thing that's interesting, Rowena is that
(05:56):
probably almost fifty percent of mortgage lending is now done
on a fit store a variable basis. It's the highest
set of van so Hellanders will actually start to see
that benefit impact their pockets much sooner than they normally
would by virtual of the fact that so many who's
locked into short term rates. So yeah, so long story short,
as our job is to get a grip on spending,
get inflation down Therefore we can get interest rates down.
(06:18):
We get interest rates down, farmers and businesses feel confident
to invest and grow because it's cheaper to do so.
Consumers have more money in their pockets to spend within
the economy. That gets the economy growing and out of recession,
and that keeps people unemployment and work.
Speaker 3 (06:30):
Where are we on a rural side in terms of
live export. I know there's been a lot of discussions.
Speaker 6 (06:36):
Yeah, Look, it's an ongoing conversation through the cabinet process
of the mons. I can't comment too much, but yeah,
what I'd say is that the government is committed to
the absolute highest centers of animal off here. We don't
want any animal that will leave this country on any
vote that doesn't meet those standards, and we're not going
to risk this country's reputations responsible export it on our
international trade obervation. That's why we're taking the time to
get the process right and to get those of animal
(07:00):
welfare to the highest three possible.
Speaker 3 (07:03):
Two days ago it was one year on from the election.
What stands out in that time for you?
Speaker 6 (07:09):
Look, I think in the agriculture sector we've made tremendous progress.
I think you know, we've disbanded Hyperlockicino. We've removed the
agriculture from the ets. We've I think put a lot
of common sense to intensive one to grazing, the stock exclusion.
You know, we've committed toy belts in the hierarchy of
obligations that to mon not to why. We've got an
independent review of biogenet methane underway. We've got to Select
(07:30):
committee inquiry into banking, particularly around rural banking, is more
in catchment groups, impowering local decision making, put more onto
rural support trusts. There's more pragmatic rules on farm water storage.
Speaker 7 (07:40):
I go on.
Speaker 6 (07:41):
I think we've done a lot of a lot of
things to remove a lot of rritance for the rural sector.
But you know, I think the message really clearly is
that we acknowledge it's still tough times for New Zealanders.
But I think they know it's tough today. But when
you see confidence and business confidence up to a ten
year high, that just says that they know it's tough.
They know that we inherited a mess, know that they
can see us working hard, they see us having a plan,
(08:03):
and I think they've got the early encouraging signs with
spending inflation and interest rates coming down, that actually we've
got this thing gripped up, that the plan is starting
to work. Yes, we've got a long way to go,
We've got a lot of work to do, but I
think people have a hope that, you know, we've got
much better days ahead of us, and I honestly believe that.
And having been out in the world and we've been
hustling with Todd McLay, I'm doing agriculture and trade and
(08:24):
Winston foreign Affairs, DUIs defense, myself building leaders leader relationships.
I think New Zealand has a fantastic future. I really do.
I think we can accept well in the world, and
we have so much potential. So ten months or eleven
months into the job, but coming off the year, and
I just really say that, you know, I think we
have a really good future, and I think I feel
really optimistic about it. That yes, we've got to make
(08:45):
some tough decisions and make the right decisions for the
long term so that our kids and our grandkids are
set up for a great future in this great country.
Speaker 3 (08:51):
Does it feel like the year's flowing by?
Speaker 6 (08:54):
Yeah, it's really fast. I didn't quite clock on Monday
that it was a year since the election night, and
I think, yes, I didn't even really have a lot
of time to celebrate because that evening I was moving
very very quickly into thinking about how to form a
government and obviously became officially the government on the twenty
seventh of November, and then from there it's been just go,
go go, and it's needed to be that. But I
(09:15):
do feel you down the road, you know, really encourage
and optimistic that you know we've got a plan, the
plan is working. Yes, it's tough, we're getting ourselves to
be at to play.
Speaker 3 (09:24):
Ultimately, finally, your song for today post Malone and Luke
Holme's Guy for that. Have you got tickets to Luke
Holmes next year?
Speaker 6 (09:32):
I'm hoping. I'm trying to get them. But I just
think what Postmas ploration with Tim mcgrare and and Williamson
here and if one Trillion. It's been absolutely brilliant. So
if you haven't heard anything any of your listening, get
on Spotify, get on to post Malone, if one Trillion,
and I think you're really enjoy that album. It's very fantastic.
Speaker 3 (09:50):
You continue to educate me in country music, and I
am here for that Prime Minister of New Zealand, Christopher Luxe,
and appreciate your time as always.
Speaker 6 (09:58):
Seeing that you have a great week, awesome jobs.
Speaker 3 (10:00):
Thank you, thank you so much. Ah, there we go
post my low guy for that featuring a lot carn s.
Here I am heading along. You guys have broken me.
I wasn't a country music fan until I joined this
radio show and then everyone was texting through like Christopher Luxen,
texting through their favorite songs all the time. I have
had an education. At seventeen after twelve, you are with
(10:22):
the country. Up next, we're going to look at those
inflation figures from this morning, Cameron Bangri out of Bagri Economics.
Speaker 5 (10:28):
Up next, Boras, Now I can thank this car and
that's sign by myself.
Speaker 2 (10:39):
Joy help me.
Speaker 3 (10:41):
It is twenty after twelve. You are with the country
inflation figures out this morning show that the inflation rate
has dropped to two point two percent, back within the
Reserve banks one to three percent target range. Joining me
now is Cameron Bangri, managing director of Bagri Economics. Good afternoon,
Good afternoon. Now, now I understand your end hodoer whether
(11:02):
in track conditions, how's it looking.
Speaker 7 (11:04):
She's a cracking day down here on how wrong or
the West have bought me? Kayak can go on for
a bit of a swim.
Speaker 3 (11:11):
I'm glad you didn't say your speedo's there. That's not
an image anyone needs while they're having their sandwich. Hey, look,
the headline's coming out today Camp the war and inflation
is technically over. Do you agree with that sentiment?
Speaker 7 (11:26):
Oh, we're on track to get inflation back to two percent.
In fact, we're effectively there at the moment. But you're
keeping inflation down at two percent, that's going to be
an ongoing challenge, so it's a bit of an ongoing war.
We've got inflation down largely because oil prices have come off.
If you look at inflation excluding food and energy, it's
(11:50):
come down, but it's still at three point one. If
you look at non tradeable inflation that's domestic inflation, it's
still up close to five percent. So yes, we can
celebrate that we've got headline inflation down the two point two,
but there's some other components of inflation that are a
bit higher. So interest rates still need to be what's
called restrictive. Now that's north of neutral. I think for
(12:13):
a little bit longer, but let's celebrate the good news.
Interest rates will continue to move down over the next
six to twelve months.
Speaker 3 (12:19):
Yeah, as a homeowner with an auckland sized mortgage, now
I am hearing that news with a lot of delay. Hey, look,
the last time this inflation was this low was March
I think it was early twenty twenty one, so it's
taken three years.
Speaker 7 (12:35):
Yeah, and we've faced an awful lot of battles because
of course this post COVID world supply chain's got all
thrown around. There was a lot of international increases in
international freight rates. You had in New Zealand economy that
had what's called confetti economics. Your interest rates went down
to zero. The government spent an awful lot of money,
(12:56):
so that propelled the New Zealand economy into the La
Las and all of a sudden, we're spending, we're buying houses,
we're living beyond our means, and that generates a lot
of inflation. And how you get rid of inflation is
that you take more with a punchbow. And it's been
a fair bit of pain out there over the next
sort of last twelve months, and we've still got a
little bit more to come, but inflation is just about
(13:19):
where it needs to be. The composition is not idea.
We've still got too much non trade of inflation, but
we're heading in the right direction.
Speaker 3 (13:26):
Let's look at the New Zealand dollar. Obviously this is
peeled back a wee bit was I think north of
sixty three now below sixty one cents.
Speaker 7 (13:35):
Yeah, and that New Zealand US dollar is an important
crutch for the rural sector when things are tough, and
it's been bobbing around between a sort of fifty nine
the sixty three cent zone over the past twelve months.
And we did pop up towards sixty three because the
here is better reserve charge interest rates fifty basis for
(13:56):
once our lock cut as well, but it was sort
of balanced out. What we're now starting to see is
that the reserve bank here in New Zealand it looks
like they're going to go another.
Speaker 6 (14:04):
Fifty basis points.
Speaker 7 (14:05):
What we're also seeing is that firmer economic data out
of the United States are pretty good job support. A
couple of weeks ago, a US inflation progress is actually stored.
Core inflation leveled out slightly in excess of three percent,
so people are starting to pull back those expectations over
the magnitude order the degree to which the US Federal
Reserve could be cutting interestates over the last over the
(14:28):
next six months, and that's how push that New Zealand
dollar back down below sixty one.
Speaker 3 (14:32):
Cent mentioning another maybe fifty basis points cut on the cards.
I saw some narrative coming out today, maybe seventy five,
a supercut. Which camp are you win? At the stage?
Speaker 7 (14:44):
I think when you start talking about seventy five, that
sort of stuff, that's an emergency policy move. Do I
think there's an emergency across the uz on economy at
the moment? The answer is no. Certainly, the Reserve Bank's
got scope to get higher than normal interest rate, and
a normal moves around twenty five basis points. If they
go fifty and they signal the interest rates you're going
(15:06):
to continue to drop, then that's what we need to see.
Speaker 3 (15:09):
I'll take fifty my mortgage, You'll take fifty. Can anything
exciting happening in Totonga?
Speaker 5 (15:15):
Oh?
Speaker 7 (15:16):
Speaking to the Port's Industry Association, So you know, there
are pretty critical parts of New zeal On instructure and
getting stuff out and getting stuff in, and of course
you're here in Taranga. You've got the big port here
in regard to it's an epicenter of the stuff that
goes out about country via exports. So there's some of
that news we've seen in regard to that Bass Track
(15:37):
announcements out of the government. So hopefully stimulate a little
more growth across that sector because your port of Tarhunga
is starting to run into capacity constraints and they need
more capacity available in order for the stuff to go
in and the stuff to go out.
Speaker 3 (15:50):
Absolutely, I was speaking to someone connected with that port
in July this year and you just said to the politicians,
don't talk to me until you're going to extend it,
because we need the capacity. It's getting pretty dire there.
Cameron Bankery out of Bankery Economics. Always a pleasure having
you on the country. Enjoy your time there in the
sun all then, thanks mate. It is twenty six after
(16:10):
twelve up next. Obviously last night it was the third
Tuesday in October, which means it was the second Global
Dairy Trade auction. Hopefully you're still with me. We're going
to look at that auction with Mike Cronan out of
Fonterra next before the end of the hour, your chance
to take home a couple of fun packs. We've got
one heading north, one heading south. We're going to catch
(16:31):
up with the team at Kythorpe that I've just won
a gold award and also our viticulture correspondent Blair Blizzard
MacLean and Linda Coppersmith ahead of the New Zealand Young
Farmer Contest getting into action first regional final District Final.
Sorry this Saturday, somebody barn me trail. Welcome back to
(16:55):
the country. Twice a month. As you'll know, we have
a global dairy Trade auction. Last night was another one,
the second for October. Joining us now to crunch the numbers.
As Mike Cronan, Managing director of Come Up, affears at Fonterra, good.
Speaker 8 (17:09):
Afternoon, Good afternoon, we went a nice to talk to you.
Speaker 3 (17:11):
Nice to talk to you as well. Now last night
across the board down zero point three percent, but homework
powder is steady zero point zero percent. You don't get
much flatter than that. What are the numbers telling us?
Speaker 8 (17:25):
You always liked to go up a little bit, but
a flat outcomes pretty good at the moment, palmelk Her
up through us three thy five hundred dollars. That's always
been a bit of a mythical levelso it came up
earlier in the year through that and then came back
down again. But it sort of seems to be holding
a little bit. So that's great news and probably shows
the participation of China and a bit of a world
(17:46):
global supply deficit there as well. But you know, we're
all good in the fats and what have you, and creams,
you know, that's coming off fairly high prices, so, you know,
pretty steady result, but a good one.
Speaker 3 (17:58):
Skim monk powder down one point eight percent, and are
we concerned about this or is it kind of within
the margin of how things fluctuate.
Speaker 8 (18:04):
I think that's about where it needs. It's sort of
come off some of the highs in the US is
a little bit there, but yeah, holding where it sort
of needs to be. So yeah, there's the overall picture,
given the sort of volumes that we're talking about in
the time of the year, we hear in New Zealand
are yeah, very steady, very good, good result.
Speaker 3 (18:21):
What else are you seeing in the markets.
Speaker 8 (18:23):
Mike, start from a supply perspective, obviously here in New
Zealand doing pretty well, I've done your parts. It's been
a little bit more challenging recently, but you know, exceptional
starts and season fingers crossed. It should stay there through
the rest of the season. So year on year are
big lift and supply here us a month on month
that's a decrease in milk there seems to be less
(18:44):
milk percal up there. Seems to be what the reports
are saying. Europe's a little bit of a mixed bag.
Some parts are doing okay, some are a little bit
more struggling, and probably the impacts of blue tongue still
up there but heading off a little bit. So you know,
global supplies come off for a little bit, and you
know demand's still pretty steady, and a little bit of
(19:04):
economic stimulus in China recently as they went into their
holidays seems to be really helpful. Might be a bit
of a sugar rush there, but we assume the dairy
markets that you know, some of the overall demand eating
out food service successor in China just starting to improve
their role, which is good.
Speaker 3 (19:20):
Yeah, always good. Now, obviously this month has got five
wednesdays in it, so it's three weeks before we see
the next global dairy trade option. Are any predictions of
what we're going to see there? No, you can't blame
a girl for trying ho Finally, Mike, now you've been
leading the potential consumer divestment process for Fonterira. Last week
(19:44):
it was announced you'll move into this role full time
from March twenty twenty five. What's happening in this space?
And also congratulations, Oh thanks for Rowena.
Speaker 8 (19:55):
Yeah, so we're still study as we go here. So
we're in the initial phase of looking at the consumer investment,
So we're exploring all the different options and that'll lead
up to a recommendation from management to the borders whether
to pursue a sale process. So we're sort of at
the pointy end of that. There still quite a lot
of work to do. You can sort of imagine just
(20:15):
the size of the business, how it's intertwined with everything
we do at the co op. It's quite a head
scratcher actually, So got good advice working through that, and yeah,
maybe an announcement soon. I think my boss promised something
at the annual meeting, so I'm pretty conscious of that.
Speaker 3 (20:32):
We will wait with baited Breuth, Mike Crohn and managing
to Director of co op Affairs at Fonterra. Appreciate your time.
Always great to chat, Nice to talk to you. Yeah,
and you Mike right. Twenty eight away from one, the
latest and rural news and sports news next the wonderful
Jane Ferguson, online editor for The Country dot co dot
nz to making her way into the studio for Rural
(20:54):
News before the end of the hour. Make sure you
stay tuned your chance to win one of a couple
of fun packs all around the country on the country.
Speaker 2 (21:02):
Barmy Dread, Does anybody want to take it?
Speaker 9 (21:12):
Anybe?
Speaker 3 (21:22):
Oh my absolute favorite Queen song of all time? Twenty
six away, Oh No, twenty four away from one. You
up with the Country, Amazing news coming out. Queen have
discussed releasing new music. Yep age is no barrier. Roger Taylor,
drummer seventy five guitarist Brian May seventy seven might just
(21:43):
give some fans new music. Brian and myself we're talking
the other day, Roger says. We both said, if we
feel like we've got some good material, why not. And
I mean, if Donald Trump can dance on stage for
thirty nine minutes, if Cliff Richard can come back to
New Zealand and perform next year when he will be
eighty five years I mean there's still a decade from home.
Back to Roger Taylor, who knows. Jane Ferguson, online editor
(22:06):
for the Country, has wandered into the studio with the
latest and rural.
Speaker 1 (22:10):
News The country's rural news with cub Cadet, New Zealand's
leading right on lawn Bower brand. Visit Steelford dot co
dot nzet for your local stockist in rural News.
Speaker 9 (22:21):
Applications are open for the Meat Industry Association's scholarship program,
aimed at students interested in a career in the red
meat processing and exporting sector. Chief Executive Sirmer Karapeva says
there are a vast number of opportunities from food design
and environmental science, through the marketing, food science and technology,
and industrial innovation. Alongside funding, the scholarships also feature a
(22:45):
strong mentoring program, including an annual workshop connecting scholars with
industry leaders and assistants to secure flexible work with the
New Zealand meat processing industry. Karapeva says that to grow
in the future, the industry needs ambitious and highly skilled people.
Scholarship Applications must be submitted by November twenty seventh and
can be found at the Meat Industry Association's website.
Speaker 6 (23:07):
Yeah.
Speaker 3 (23:08):
What a great opportunity that is for people who were
interested in a career. I need the red meat and
it's not just you know, one part of it. There's
so many aspects you can go in, so so yeah,
go and check that out the Meat Industry Association website here.
Thank you so much. Jane has Sport Sport.
Speaker 1 (23:25):
Were the nathco keiw to the bone since nineteen oh four.
Speaker 3 (23:29):
In your sports news headlines All Blacks Loose Forwards Ethan Blackadder, Look,
Jacobsen and Dalton Papa Ley have been forced out of
the Japanese leg on the end of year tour due
to nagging injuries. Wellington flanker Peter Lankey and Tadanaki Lockjosh
Lord have been called in as cover. Hannah Wilkinson has
retired from professional football. The thirty two year old earned
(23:50):
one hundred and twenty five camps for New Zealand and
scored thirty two goals, including the loan strike and the
triumph over Norway at last year's World carp at Eden Park.
Go well Hannah you absolutely deserve your retirement. You haven't
inspired a generation of footballers. Aim center. Peta Hiku has
been cleared to play for the Kiwis in league specific championships.
(24:13):
And that is your sports news. That is the end
of Queen Up. Next on the country, let's cheer you
up with some fun packs and chat about some awards.
Speaker 2 (24:22):
This could be heaven for every one. This worhed beef fat,
This world shared bee fa, This coudbi hamn for everyone.
This world should be free.
Speaker 3 (24:37):
This watched one. Welcome back to the country. Time to
cheer you guys up. Now we have got some fun
packs on the way. But first of all, joining us
for a viticulture update out of fruit fed supplies and
Blenheim Blear Blizzard MacLean, Good afternoon, Blizzard. Right now, speaking
of your nickname Blizzard, which we all know had something
to do with sitting on the wing at rugby and
(24:59):
never touching the ball. But frost's frosts an issue for
the viticulture industry at the moment. Hearing that it's getting
very cold, yeah.
Speaker 5 (25:08):
No they are.
Speaker 7 (25:09):
We had a bit of an alert here last night.
Actually there was potential forecast in the mulberry area. Not
quite blizzard conditions, but it was going to get recently cold,
but cloud rolled in a wee bit of wind and
nothing eventuated, but was still on call probably through to
mid November, end of November, where everyone's sort of on
edge and watching temperatures and those southerlyas that come up.
(25:31):
I know a few guys in central Otago have been
fighting the frost even on Monday morning after Bethurst. To you,
guys are a bit struggling now and the fight in
the morning. So yeah, no, it's where everyone's pretty much
still on the right through the country road.
Speaker 3 (25:48):
To be fair, Apart from the top ten shootout, that
probably would have been the most exciting part of the
weekend was the frost because that race was the most
boring race in history. Is the industry tracking as a
whole at the moment?
Speaker 7 (26:03):
Yeah, no, I mean we're ten days ahead here in Marlborough,
and I think most of the country is sort of
ahead and growing and growth, so things are really racing
along this plant and Marlborough We've had another twenty miles
on the weekend recentaly warm day, so things are racing along.
The wine selling of wine is you know, it's a battle.
There's a lot of savvy and blanc around, but there
(26:24):
is some pick up and our wine throughout the world
is still really well known and is selling well and
winning lots of awards.
Speaker 3 (26:33):
Yeah. Now, speaking of awards, you've got a special guest
on the line.
Speaker 7 (26:37):
Yeah, so we've got Simon Bischell from Caythorpe Wines here
and Simon's here to tell us about how they've done
in their recent awards.
Speaker 6 (26:44):
Yeah.
Speaker 5 (26:45):
Good afternoon, Rowland. Thanks for the opportunity to be on
your show today.
Speaker 3 (26:50):
No, it's great to chat to you because you and
I met back in twenty nineteen when I was seeing
the Century Farm and Station Awards and Lawrence and your
family was on it.
Speaker 5 (27:00):
Yes. Yes, we've prod with offense of a award and
year in twenty nineteen. So our farm was established in
eighteen seventy six. Oh, sorry, eighteen seventy six. Ancestor David
traveled out to New Zealand and established our family property
case of in eighteen eighty. So you we're one hundred
and forty four years this year.
Speaker 3 (27:20):
Wow. I look forward to seeing you in six years
when you celebrate your one fiftieth This year directly back
for that, and you've continued your association with the awards
by supplying the wine every year. So I'm a recipient
of your generosity every year, so on behalf of everyone
who gets to partake. Thank you so much.
Speaker 5 (27:39):
I no, it's a wonderful event that we enjoy supporting.
Speaker 3 (27:42):
Yeah, it really really is. So tell me about the
award that you guys have picked up. This is pretty exciting.
Speaker 5 (27:48):
Yes, So we picked up a gold medal in the
twenty twenty four New World one Awards and also inclusion
in the top fifty selection. So that is our twenty
two three Rose now has distribution through every New World
store in the country for the next five weeks or
until stops last.
Speaker 3 (28:07):
That's pretty awesome.
Speaker 5 (28:08):
Yes, you know, really really exciting for us, in particularly
smaller brands. You know, it's really difficult to try and
get your product out there and in the market. So
to pick up an award like this and exposure that
this award provides New World stores is invaluable. Really pretty cool.
Speaker 3 (28:25):
Tell me about your Rose.
Speaker 5 (28:26):
Well, it's a rose drinker's dream, really. I think if
you're thinking fresh strawberries, a bit of watermelon, and some
country peer just a lovely, lovely drink on a summer's day,
certainly as we're approaching the warmer months.
Speaker 3 (28:41):
Delicious, You've got me drooling now, and you may tempt
me away from my beloved peno. No, now, you guys
were on Country Calendar this year, weren't you.
Speaker 5 (28:49):
Yes, we did. You know, it's been a pretty big
year for us, So yeah, we had an episode in
Country Calendar back in July. So that was a great
experience and some more pretty conficant exposure for the farm
and have some nice feedback from us, and yeah, it
was wonderful experience as well.
Speaker 3 (29:05):
Yeah, good to hear you. The second person from Country
Calendar we've had on the show this week. We had
Ruth Ankian from Some Moore on Monday's show as well.
Now I digress anyway, Blizzard, you have twisted Simon's arm
and convinced him to give away a couple of fun packs,
one for the North one for the South.
Speaker 5 (29:22):
Yeah.
Speaker 7 (29:23):
Yes, I've actually tasted some of that rose and I
thought it We're down pretty well with what did I
have it with? I was hoping to have bluff Oysters,
but they are out of the season. But now as yeah,
it's a great, great drop and thanks for Simon and
Case giving a couple of fun packs away. And I
think the idea would be to Texan your favorite country host.
The name of the favorite country host would be a
(29:44):
good idea. Done you Reckon row Yeah, I.
Speaker 3 (29:46):
Reckon and my name is spelled row e n a everyone,
but no, have a bit of fun with this. We're
not being serious. Just tell us who your favorite country
host and we all know it's going to be me
because I'm the one who gets to draw this. Send
it through to five below nine. Don't forget to include
your courier address so we know where to see the
fun packs to him, we can tell one is going
(30:06):
to the north, one is going to the south. Blear
Blizzard MacLean out of Fruit Feed Supplies and Billien him
Simon Bishell out of Caythorpe Wines. Thank you both so
much for joining me to bring a bit of cheer
to everyone on the country today.
Speaker 5 (30:19):
Thanks very much, bro, no problem, Thank you very much.
On Happy Wednesday, all.
Speaker 2 (30:24):
This woud be free, This wudous one.
Speaker 3 (30:31):
I want to redfree.
Speaker 5 (30:35):
Well.
Speaker 3 (30:35):
It is an exciting time in the calendar for the
New Zealander young farmers competition, with the district finals getting
underway this Saturday. Joining me now is CEO Linda Coppersmith.
Good afternoon, hey Roy, how are you going very well?
Thank you lovely to bump into you last Thursday Linda
at the New Zealand Young Grower of the Year contest.
Speaker 4 (30:54):
It was a good night. It was nice not to
be in charge for a change.
Speaker 3 (30:57):
I bet, I bet hey as I mean. And huge
week for you guys at Young Farmers with the district
finals just literally days away.
Speaker 4 (31:07):
Yeah, first district final is for our Casman region, which
is this Saturday at Alleeshnir Show, so it'll be running
alongside Alashnire's show. For those of you that want to
come and watch the district final. What don't want to
go into the show that separate entry, so hey come
along and have a look.
Speaker 3 (31:22):
Yeah, it's always exciting. Now, how many district finals roughly
are we looking at around the country to find those
regional competitors.
Speaker 4 (31:30):
So this year we've scaled the district finals back and
we're having one per region, so we're having seven district
finals with open entry across the country. In the past
we had twelve to fourteen, but it's a lot of work,
so we've decided to kind of consolidate. So yeah, it'll
run basically over October and November, it's slightly into December and.
Speaker 3 (31:50):
Then we're into the regional finals. Where As we saw
last year around the country, the whole format changed. Everyone
was on the same page Linda, did it work well?
Speaker 4 (32:00):
It was no, not really, well it didn't. It didn't,
So we've sort of got a hybrid. Now was the
way that we're doing it this year. We found that
having the open entry on the Friday was the top
eight going through the Saturday was a little bit challenging
for those top eight and that they didn't really have
time to prepare. It's a little bit uncertainty and also
made it really hard to sell tickets on the Saturday
night as people didn't know who was going to be
(32:22):
on the stage. So we had to do a bit
of rejigging, bring back with the strict format, but also
just bearing in mind that we've got such wonderful volunteers
that do all the work for those districts. We don't
want to overload them. So the hents why we're having
the seven separate districts this year.
Speaker 3 (32:36):
Yeah, good on you and I said this last year
for actually trying something different, to try and work with
how people's lives are changing.
Speaker 4 (32:45):
Absolutely.
Speaker 1 (32:46):
You know.
Speaker 4 (32:46):
One of the things that we've worked out is it
to round about four thousand hours a year of volunteer
time that comes from the Young Farmers membership base to
run Young Farmer of the Year, as well as all
the support we get from our sponsors. So you know,
we want to do everything we can to make it
as easy as possible and as fun as possible and
(33:07):
not stress our members out too much with the amount
of work involved at a busy time of the year.
Speaker 7 (33:11):
Yeah.
Speaker 3 (33:12):
Great, How are entries going.
Speaker 4 (33:14):
We're looking pretty good so far, given that we're just
about to start and we've still got about another seven
weeks to go. We're at I read about one hundred
hundred and two. I think it is so, so, really
good terries for this weekend into Tasman. What I will
say to any of you young farmers that are out
there listening is that we are still having some really
good conversations with some sponsors and that might make the
(33:34):
prize pool look even better by the time we get
to Grand Final. So I can't say what that is,
but it's pretty exciting stuff to get your entry in.
Speaker 3 (33:42):
Yeah, brilliant and look being in trouble focus at this
point in time before you've even had your first destrict
final is great. Now speaking of entries, though, entries for
TEENAGG and aggregads open on Monday.
Speaker 4 (33:55):
They certainly do, so make sure you get in there
and get your registrations in where we'll keep them moving
for a fair fair while. So it'd be great if
you could get them in before Christmas and be good
to see you on the field in February March April.
Speaker 3 (34:08):
Yeah, looking forward to it and obviously Grand Final this
year and in Vicago or coming up. It'll be twenty
twenty five July before we actually get there, but great
to be heading to the Deep South. I've been to
the Grand Final and in v Cargo before. I won't
speak about what happened after the after party, but it
involved having my photo taken with a police person. But
(34:31):
one of the great things about Grand Final down in
the Deep South southern sushi cheese rolls.
Speaker 4 (34:37):
Absolutely. I think my first ever regional final that I
went to was in Itago, Southland and we had a
cheese roll benda there in a caravan and I thought
it was Christmas because I'm a big fan of the
old cheese roles. So yeah, hopefully they we be plenty
of cheese rolls around.
Speaker 3 (34:51):
Well, if there's cheese rolls, I will be there. Linda
Coppin Smith, CEO of New Zealand Young Farmers, appreciate the
update and good luck with the first district final this Saturday.
Thanks ro It is about four and a half away
from one, rapidly approaching the end of the show. Look,
thanks so much for actually having fun. Would that we
(35:12):
giveaway of the fun packs, one to the North, one
to the South, courtesy of the team at Kythorpe Family Wines. There, Yeah,
one hundred and forty years they've been going. Great to
see them one hundred and forty four, I think, great
to see them honored at the Century Farm and Station Awards. Look,
if you've got a property that has been passed down
through the generations you've owned the same piece of land
(35:33):
might have been might have shrunk, it might have grown,
but for more than one hundred years, get in touch
with the team at Lawrence Just google it online Century
Farm and Station Awards because you could be eligible to
be recognized in these awards that are just so so special. Yeah,
textor from Mars. You have to tell the story of
the police photo. Basically, I just imbibed a bit too much,
(35:55):
found a police person and decided they wanted to have
their photo taken with me. It's a little bit embarrassing.
I've got someone else's tie on my hair. Really wasn't
my classiest moment. Thankfully I've grown up since then. Congratulations
are our winner of the fun Pack and the South
Sharon and Darryl McMillan. They're at Woodlands just out of
Invercargo and in the North Joe McGowan, Ardi two Otane
(36:18):
and Hawks Bay. We will send a fun pack in
either direction. Hope you enjoy those. Kay Thorpe Bynes, thank
you so much for your company once again today. I
will be back to do it all again tomorrow twelve
to one Here on the Country. If you've missed any
of the show this shows this week, check out our podcast,
but take care enjoy the rest of your Wednesday.
Speaker 1 (36:43):
Catch you all the latest from the land. It's the
Country Podcast with Jamie McGue Thanks to Brent, You're specialist
in John Dere Machinery
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 (00:15):
Exactly what I'm looking for, because I'm looking forward some potas.
Speaker 3 (00:22):
Baking drug in this they know the.
Speaker 4 (00:28):
Lose my love.
Speaker 5 (00:31):
Man.
Speaker 3 (00:32):
I'm damn near now to my last down.
Speaker 4 (00:36):
I'm pretty good at breaking down.
Speaker 1 (00:39):
Hot.
Speaker 3 (00:41):
A very good afternoon, New Zealand. Welcome in to the Country.
My name is Rowena Duncan in for Jamie mckaig and
that is Post Malone featuring Lukecolm's guy for that the
request of our first guest on the show this afternoon,
the Prime Minister of New Zealand, Christopher Luxon, always a
country music fan. We know that we'll find out why shortly.
(01:01):
Still to come this hour, We've got quite a big lineup.
We've got Simon Bishall and Bleair Blizzard Macclaim giving us
a bit of a viticulture update, plus your chance to
win a couple of fun packs, one heading North, one
heading South. Linda Koppersmith as the CEO of New Zealand
Young Farmers. They kick into action this weekend. It feels
like we only just had Grand Final that was back
(01:22):
in July. We're now in the middle of October. District
Final number one getting underway this Saturday. Mike Cronin out
of Fonterra zero point three percent dip on the Global
Dairy Trade auction last night, HOMEWOROK part A steady though
no change for that. We'll find out what the numbers
tell us and what the markets are telling us as well.
Cameron Bagray are joining us very shortly, so obviously the
(01:45):
inflation figures are up, but we must head to Wellington
first of all. Here on the Country, well every Wednesday
on the Country, Prime Minister Christopher Luxon joins us. Good afternoon,
good afternoon, very well, thank you, enjoying standing in for
Jamie mackay stealing is yuked his house and his job
(02:05):
for two weeks. Life is good.
Speaker 6 (02:07):
I always think you do a better job than Jamie.
Let's not tell of me, no no, I.
Speaker 3 (02:11):
Mean, I definitely won't make this on repeat. When he
walks into his office when he gets back from New York.
Hat a lot happening, and we'll just actually start with
the US on that the US election fast approaching, which
is part of the reason why Jamie wanted to go
being a political junkie at this time in the cycle,
but how close and I are you keeping on the
(02:32):
happenings over there.
Speaker 6 (02:33):
Yeah, look, we're following obviously like everybody is. You know,
media reports and latest polling in different different swing states
and all of that good stuff. But you know the
reality is that's a really close election. America is pretty polarized,
and people are locking in their vote on each site.
The challenge for us is that, you know, we need
to be able to build a good relationship with either
Kamala Harris or Donald Trump, who have expected as president.
(02:55):
And I'm very confident that we'll do that. And that's
important because irrespective what listeners maybe thinking about who they support,
or who they like or who they don't like, all
of that's interesting to a point, but we need to
be able to do business and to be able to
get down to it with whoever the new president is.
Speaker 3 (03:09):
So we're probably not going to get you on the
record expressing how disturbing it whiles watching Trump get up
there and dance like I can say that.
Speaker 6 (03:20):
No, Well, look, I mean that'll be a decision for
the American people whether the dancing and influences their decisions
or not one way or another, who knows. But the
bottom line is it's really important that we can build
a good relationship with those that leader. But also, you know,
the American political systems really you know, broad and deep.
When I was in Washington, d c. Or in the year,
(03:40):
I made sure to go talk to senior senators and
congressmen and officials actually on the Democrat side and also
the Republican side, because you know, you might have a
one party that's got the presidence in another party that's
got the Senate or the Congress, and of course that
impacts how laws go through, and that's how they might
be thinking with respect to Trey need or security or
(04:01):
economic issues. You want to have influence and have relationships
across a border system just being reliant on the leader's
leader conversation and relationship as well. So you know, it's
a fascinating political system. As you say, it's going to
be a very close election. It'll be interesting what Jatipex
up and what has moved on the ground is from
his visits. But for us, yeah, we'll watch it closely.
But at the end of the day, our job was
to get on and advance new Zealand's interest with whoever
(04:23):
they choose as president.
Speaker 3 (04:25):
You're at home. Obviously the inflation figures out today within
the expected band, that must be reassuring.
Speaker 6 (04:32):
Well, the key thing for us is that how do
we get into this economic mess? Why as it people
are going through a tough time right now. Well, quite simply,
the last government increased selvement spending by eighty four percent.
They ran up the debt to over one hundred billion dollars,
They spent a lot, they borrowed a lot, and they taxpot.
What we've done has got government spending gripped up and
under control. That means that the Reserve Bank has then
(04:53):
had confidence to lower interest rates. That's because we're actually
through our the s collections of controlling spending. We're lowering inflation.
Inflation getting in the band is important and that gives
the Reserve Bank confidence to continue. It's downward tracked on
interest rates. You know, the last government had twelve infistrate rises.
We've had two interest rate decreases. If you just think
about an average person with a five hundred thousand dollars
(05:14):
mortgage on the people and farmers, they've got a lot
more and often paying a lot more on interest. But
the reality is already that seventy five bases point drop
that we've had already with the two cuts has actually
given people one hundred dollars a fortnight to freed up
in their pockets, and they're not paying the bank. That
makes a big difference to families that are really struggling
with food and fuel and just just daily living costs.
(05:36):
So the good news that it's got food inflations down inflations,
tracking down interest rates on a pathway downwards, which is good.
The Reserve Bank's got another opportunity to for Christmas and
also in February that will obviously their decision, but you
can see that we've locked into a downward trajectory and
interest rates. The other thing that's interesting, Rowena is that
(05:56):
probably almost fifty percent of mortgage lending is now done
on a fit store a variable basis. It's the highest
set of van so Hellanders will actually start to see
that benefit impact their pockets much sooner than they normally
would by virtual of the fact that so many who's
locked into short term rates. So yeah, so long story short,
as our job is to get a grip on spending,
get inflation down Therefore we can get interest rates down.
(06:18):
We get interest rates down, farmers and businesses feel confident
to invest and grow because it's cheaper to do so.
Consumers have more money in their pockets to spend within
the economy. That gets the economy growing and out of recession,
and that keeps people unemployment and work.
Speaker 3 (06:30):
Where are we on a rural side in terms of
live export. I know there's been a lot of discussions.
Speaker 6 (06:36):
Yeah, Look, it's an ongoing conversation through the cabinet process
of the mons. I can't comment too much, but yeah,
what I'd say is that the government is committed to
the absolute highest centers of animal off here. We don't
want any animal that will leave this country on any
vote that doesn't meet those standards, and we're not going
to risk this country's reputations responsible export it on our
international trade obervation. That's why we're taking the time to
get the process right and to get those of animal
(07:00):
welfare to the highest three possible.
Speaker 3 (07:03):
Two days ago it was one year on from the election.
What stands out in that time for you?
Speaker 6 (07:09):
Look, I think in the agriculture sector we've made tremendous progress.
I think you know, we've disbanded Hyperlockicino. We've removed the
agriculture from the ets. We've I think put a lot
of common sense to intensive one to grazing, the stock exclusion.
You know, we've committed toy belts in the hierarchy of
obligations that to mon not to why. We've got an
independent review of biogenet methane underway. We've got to Select
(07:30):
committee inquiry into banking, particularly around rural banking, is more
in catchment groups, impowering local decision making, put more onto
rural support trusts. There's more pragmatic rules on farm water storage.
Speaker 7 (07:40):
I go on.
Speaker 6 (07:41):
I think we've done a lot of a lot of
things to remove a lot of rritance for the rural sector.
But you know, I think the message really clearly is
that we acknowledge it's still tough times for New Zealanders.
But I think they know it's tough today. But when
you see confidence and business confidence up to a ten
year high, that just says that they know it's tough.
They know that we inherited a mess, know that they
can see us working hard, they see us having a plan,
(08:03):
and I think they've got the early encouraging signs with
spending inflation and interest rates coming down, that actually we've
got this thing gripped up, that the plan is starting
to work. Yes, we've got a long way to go,
We've got a lot of work to do, but I
think people have a hope that, you know, we've got
much better days ahead of us, and I honestly believe that.
And having been out in the world and we've been
hustling with Todd McLay, I'm doing agriculture and trade and
(08:24):
Winston foreign Affairs, DUIs defense, myself building leaders leader relationships.
I think New Zealand has a fantastic future. I really do.
I think we can accept well in the world, and
we have so much potential. So ten months or eleven
months into the job, but coming off the year, and
I just really say that, you know, I think we
have a really good future, and I think I feel
really optimistic about it. That yes, we've got to make
(08:45):
some tough decisions and make the right decisions for the
long term so that our kids and our grandkids are
set up for a great future in this great country.
Speaker 3 (08:51):
Does it feel like the year's flowing by?
Speaker 6 (08:54):
Yeah, it's really fast. I didn't quite clock on Monday
that it was a year since the election night, and
I think, yes, I didn't even really have a lot
of time to celebrate because that evening I was moving
very very quickly into thinking about how to form a
government and obviously became officially the government on the twenty
seventh of November, and then from there it's been just go,
go go, and it's needed to be that. But I
(09:15):
do feel you down the road, you know, really encourage
and optimistic that you know we've got a plan, the
plan is working. Yes, it's tough, we're getting ourselves to
be at to play.
Speaker 3 (09:24):
Ultimately, finally, your song for today post Malone and Luke
Holme's Guy for that. Have you got tickets to Luke
Holmes next year?
Speaker 6 (09:32):
I'm hoping. I'm trying to get them. But I just
think what Postmas ploration with Tim mcgrare and and Williamson
here and if one Trillion. It's been absolutely brilliant. So
if you haven't heard anything any of your listening, get
on Spotify, get on to post Malone, if one Trillion,
and I think you're really enjoy that album. It's very fantastic.
Speaker 3 (09:50):
You continue to educate me in country music, and I
am here for that Prime Minister of New Zealand, Christopher Luxe,
and appreciate your time as always.
Speaker 6 (09:58):
Seeing that you have a great week, awesome jobs.
Speaker 3 (10:00):
Thank you, thank you so much. Ah, there we go
post my low guy for that featuring a lot carn s.
Here I am heading along. You guys have broken me.
I wasn't a country music fan until I joined this
radio show and then everyone was texting through like Christopher Luxen,
texting through their favorite songs all the time. I have
had an education. At seventeen after twelve, you are with
(10:22):
the country. Up next, we're going to look at those
inflation figures from this morning, Cameron Bangri out of Bagri Economics.
Speaker 5 (10:28):
Up next, Boras, Now I can thank this car and
that's sign by myself.
Speaker 2 (10:39):
Joy help me.
Speaker 3 (10:41):
It is twenty after twelve. You are with the country
inflation figures out this morning show that the inflation rate
has dropped to two point two percent, back within the
Reserve banks one to three percent target range. Joining me
now is Cameron Bangri, managing director of Bagri Economics. Good afternoon,
Good afternoon. Now, now I understand your end hodoer whether
(11:02):
in track conditions, how's it looking.
Speaker 7 (11:04):
She's a cracking day down here on how wrong or
the West have bought me? Kayak can go on for
a bit of a swim.
Speaker 3 (11:11):
I'm glad you didn't say your speedo's there. That's not
an image anyone needs while they're having their sandwich. Hey, look,
the headline's coming out today Camp the war and inflation
is technically over. Do you agree with that sentiment?
Speaker 7 (11:26):
Oh, we're on track to get inflation back to two percent.
In fact, we're effectively there at the moment. But you're
keeping inflation down at two percent, that's going to be
an ongoing challenge, so it's a bit of an ongoing war.
We've got inflation down largely because oil prices have come off.
If you look at inflation excluding food and energy, it's
(11:50):
come down, but it's still at three point one. If
you look at non tradeable inflation that's domestic inflation, it's
still up close to five percent. So yes, we can
celebrate that we've got headline inflation down the two point two,
but there's some other components of inflation that are a
bit higher. So interest rates still need to be what's
called restrictive. Now that's north of neutral. I think for
(12:13):
a little bit longer, but let's celebrate the good news.
Interest rates will continue to move down over the next
six to twelve months.
Speaker 3 (12:19):
Yeah, as a homeowner with an auckland sized mortgage, now
I am hearing that news with a lot of delay. Hey, look,
the last time this inflation was this low was March
I think it was early twenty twenty one, so it's
taken three years.
Speaker 7 (12:35):
Yeah, and we've faced an awful lot of battles because
of course this post COVID world supply chain's got all
thrown around. There was a lot of international increases in
international freight rates. You had in New Zealand economy that
had what's called confetti economics. Your interest rates went down
to zero. The government spent an awful lot of money,
(12:56):
so that propelled the New Zealand economy into the La
Las and all of a sudden, we're spending, we're buying houses,
we're living beyond our means, and that generates a lot
of inflation. And how you get rid of inflation is
that you take more with a punchbow. And it's been
a fair bit of pain out there over the next
sort of last twelve months, and we've still got a
little bit more to come, but inflation is just about
(13:19):
where it needs to be. The composition is not idea.
We've still got too much non trade of inflation, but
we're heading in the right direction.
Speaker 3 (13:26):
Let's look at the New Zealand dollar. Obviously this is
peeled back a wee bit was I think north of
sixty three now below sixty one cents.
Speaker 7 (13:35):
Yeah, and that New Zealand US dollar is an important
crutch for the rural sector when things are tough, and
it's been bobbing around between a sort of fifty nine
the sixty three cent zone over the past twelve months.
And we did pop up towards sixty three because the
here is better reserve charge interest rates fifty basis for
(13:56):
once our lock cut as well, but it was sort
of balanced out. What we're now starting to see is
that the reserve bank here in New Zealand it looks
like they're going to go another.
Speaker 6 (14:04):
Fifty basis points.
Speaker 7 (14:05):
What we're also seeing is that firmer economic data out
of the United States are pretty good job support. A
couple of weeks ago, a US inflation progress is actually stored.
Core inflation leveled out slightly in excess of three percent,
so people are starting to pull back those expectations over
the magnitude order the degree to which the US Federal
Reserve could be cutting interestates over the last over the
(14:28):
next six months, and that's how push that New Zealand
dollar back down below sixty one.
Speaker 3 (14:32):
Cent mentioning another maybe fifty basis points cut on the cards.
I saw some narrative coming out today, maybe seventy five,
a supercut. Which camp are you win? At the stage?
Speaker 7 (14:44):
I think when you start talking about seventy five, that
sort of stuff, that's an emergency policy move. Do I
think there's an emergency across the uz on economy at
the moment? The answer is no. Certainly, the Reserve Bank's
got scope to get higher than normal interest rate, and
a normal moves around twenty five basis points. If they
go fifty and they signal the interest rates you're going
(15:06):
to continue to drop, then that's what we need to see.
Speaker 3 (15:09):
I'll take fifty my mortgage, You'll take fifty. Can anything
exciting happening in Totonga?
Speaker 5 (15:15):
Oh?
Speaker 7 (15:16):
Speaking to the Port's Industry Association, So you know, there
are pretty critical parts of New zeal On instructure and
getting stuff out and getting stuff in, and of course
you're here in Taranga. You've got the big port here
in regard to it's an epicenter of the stuff that
goes out about country via exports. So there's some of
that news we've seen in regard to that Bass Track
(15:37):
announcements out of the government. So hopefully stimulate a little
more growth across that sector because your port of Tarhunga
is starting to run into capacity constraints and they need
more capacity available in order for the stuff to go
in and the stuff to go out.
Speaker 3 (15:50):
Absolutely, I was speaking to someone connected with that port
in July this year and you just said to the politicians,
don't talk to me until you're going to extend it,
because we need the capacity. It's getting pretty dire there.
Cameron Bankery out of Bankery Economics. Always a pleasure having
you on the country. Enjoy your time there in the
sun all then, thanks mate. It is twenty six after
(16:10):
twelve up next. Obviously last night it was the third
Tuesday in October, which means it was the second Global
Dairy Trade auction. Hopefully you're still with me. We're going
to look at that auction with Mike Cronan out of
Fonterra next before the end of the hour, your chance
to take home a couple of fun packs. We've got
one heading north, one heading south. We're going to catch
(16:31):
up with the team at Kythorpe that I've just won
a gold award and also our viticulture correspondent Blair Blizzard
MacLean and Linda Coppersmith ahead of the New Zealand Young
Farmer Contest getting into action first regional final District Final.
Sorry this Saturday, somebody barn me trail. Welcome back to
(16:55):
the country. Twice a month. As you'll know, we have
a global dairy Trade auction. Last night was another one,
the second for October. Joining us now to crunch the numbers.
As Mike Cronan, Managing director of Come Up, affears at Fonterra, good.
Speaker 8 (17:09):
Afternoon, Good afternoon, we went a nice to talk to you.
Speaker 3 (17:11):
Nice to talk to you as well. Now last night
across the board down zero point three percent, but homework
powder is steady zero point zero percent. You don't get
much flatter than that. What are the numbers telling us?
Speaker 8 (17:25):
You always liked to go up a little bit, but
a flat outcomes pretty good at the moment, palmelk Her
up through us three thy five hundred dollars. That's always
been a bit of a mythical levelso it came up
earlier in the year through that and then came back
down again. But it sort of seems to be holding
a little bit. So that's great news and probably shows
the participation of China and a bit of a world
(17:46):
global supply deficit there as well. But you know, we're
all good in the fats and what have you, and creams,
you know, that's coming off fairly high prices, so, you know,
pretty steady result, but a good one.
Speaker 3 (17:58):
Skim monk powder down one point eight percent, and are
we concerned about this or is it kind of within
the margin of how things fluctuate.
Speaker 8 (18:04):
I think that's about where it needs. It's sort of
come off some of the highs in the US is
a little bit there, but yeah, holding where it sort
of needs to be. So yeah, there's the overall picture,
given the sort of volumes that we're talking about in
the time of the year, we hear in New Zealand
are yeah, very steady, very good, good result.
Speaker 3 (18:21):
What else are you seeing in the markets.
Speaker 8 (18:23):
Mike, start from a supply perspective, obviously here in New
Zealand doing pretty well, I've done your parts. It's been
a little bit more challenging recently, but you know, exceptional
starts and season fingers crossed. It should stay there through
the rest of the season. So year on year are
big lift and supply here us a month on month
that's a decrease in milk there seems to be less
(18:44):
milk percal up there. Seems to be what the reports
are saying. Europe's a little bit of a mixed bag.
Some parts are doing okay, some are a little bit
more struggling, and probably the impacts of blue tongue still
up there but heading off a little bit. So you know,
global supplies come off for a little bit, and you
know demand's still pretty steady, and a little bit of
(19:04):
economic stimulus in China recently as they went into their
holidays seems to be really helpful. Might be a bit
of a sugar rush there, but we assume the dairy
markets that you know, some of the overall demand eating
out food service successor in China just starting to improve
their role, which is good.
Speaker 3 (19:20):
Yeah, always good. Now, obviously this month has got five
wednesdays in it, so it's three weeks before we see
the next global dairy trade option. Are any predictions of
what we're going to see there? No, you can't blame
a girl for trying ho Finally, Mike, now you've been
leading the potential consumer divestment process for Fonterira. Last week
(19:44):
it was announced you'll move into this role full time
from March twenty twenty five. What's happening in this space?
And also congratulations, Oh thanks for Rowena.
Speaker 8 (19:55):
Yeah, so we're still study as we go here. So
we're in the initial phase of looking at the consumer investment,
So we're exploring all the different options and that'll lead
up to a recommendation from management to the borders whether
to pursue a sale process. So we're sort of at
the pointy end of that. There still quite a lot
of work to do. You can sort of imagine just
(20:15):
the size of the business, how it's intertwined with everything
we do at the co op. It's quite a head
scratcher actually, So got good advice working through that, and yeah,
maybe an announcement soon. I think my boss promised something
at the annual meeting, so I'm pretty conscious of that.
Speaker 3 (20:32):
We will wait with baited Breuth, Mike Crohn and managing
to Director of co op Affairs at Fonterra. Appreciate your time.
Always great to chat, Nice to talk to you. Yeah,
and you Mike right. Twenty eight away from one, the
latest and rural news and sports news next the wonderful
Jane Ferguson, online editor for The Country dot co dot
nz to making her way into the studio for Rural
(20:54):
News before the end of the hour. Make sure you
stay tuned your chance to win one of a couple
of fun packs all around the country on the country.
Speaker 2 (21:02):
Barmy Dread, Does anybody want to take it?
Speaker 9 (21:12):
Anybe?
Speaker 3 (21:22):
Oh my absolute favorite Queen song of all time? Twenty
six away, Oh No, twenty four away from one. You
up with the Country, Amazing news coming out. Queen have
discussed releasing new music. Yep age is no barrier. Roger Taylor,
drummer seventy five guitarist Brian May seventy seven might just
(21:43):
give some fans new music. Brian and myself we're talking
the other day, Roger says. We both said, if we
feel like we've got some good material, why not. And
I mean, if Donald Trump can dance on stage for
thirty nine minutes, if Cliff Richard can come back to
New Zealand and perform next year when he will be
eighty five years I mean there's still a decade from home.
Back to Roger Taylor, who knows. Jane Ferguson, online editor
(22:06):
for the Country, has wandered into the studio with the
latest and rural.
Speaker 1 (22:10):
News The country's rural news with cub Cadet, New Zealand's
leading right on lawn Bower brand. Visit Steelford dot co
dot nzet for your local stockist in rural News.
Speaker 9 (22:21):
Applications are open for the Meat Industry Association's scholarship program,
aimed at students interested in a career in the red
meat processing and exporting sector. Chief Executive Sirmer Karapeva says
there are a vast number of opportunities from food design
and environmental science, through the marketing, food science and technology,
and industrial innovation. Alongside funding, the scholarships also feature a
(22:45):
strong mentoring program, including an annual workshop connecting scholars with
industry leaders and assistants to secure flexible work with the
New Zealand meat processing industry. Karapeva says that to grow
in the future, the industry needs ambitious and highly skilled people.
Scholarship Applications must be submitted by November twenty seventh and
can be found at the Meat Industry Association's website.
Speaker 6 (23:07):
Yeah.
Speaker 3 (23:08):
What a great opportunity that is for people who were
interested in a career. I need the red meat and
it's not just you know, one part of it. There's
so many aspects you can go in, so so yeah,
go and check that out the Meat Industry Association website here.
Thank you so much. Jane has Sport Sport.
Speaker 1 (23:25):
Were the nathco keiw to the bone since nineteen oh four.
Speaker 3 (23:29):
In your sports news headlines All Blacks Loose Forwards Ethan Blackadder, Look,
Jacobsen and Dalton Papa Ley have been forced out of
the Japanese leg on the end of year tour due
to nagging injuries. Wellington flanker Peter Lankey and Tadanaki Lockjosh
Lord have been called in as cover. Hannah Wilkinson has
retired from professional football. The thirty two year old earned
(23:50):
one hundred and twenty five camps for New Zealand and
scored thirty two goals, including the loan strike and the
triumph over Norway at last year's World carp at Eden Park.
Go well Hannah you absolutely deserve your retirement. You haven't
inspired a generation of footballers. Aim center. Peta Hiku has
been cleared to play for the Kiwis in league specific championships.
(24:13):
And that is your sports news. That is the end
of Queen Up. Next on the country, let's cheer you
up with some fun packs and chat about some awards.
Speaker 2 (24:22):
This could be heaven for every one. This worhed beef fat,
This world shared bee fa, This coudbi hamn for everyone.
This world should be free.
Speaker 3 (24:37):
This watched one. Welcome back to the country. Time to
cheer you guys up. Now we have got some fun
packs on the way. But first of all, joining us
for a viticulture update out of fruit fed supplies and
Blenheim Blear Blizzard MacLean, Good afternoon, Blizzard. Right now, speaking
of your nickname Blizzard, which we all know had something
to do with sitting on the wing at rugby and
(24:59):
never touching the ball. But frost's frosts an issue for
the viticulture industry at the moment. Hearing that it's getting
very cold, yeah.
Speaker 5 (25:08):
No they are.
Speaker 7 (25:09):
We had a bit of an alert here last night.
Actually there was potential forecast in the mulberry area. Not
quite blizzard conditions, but it was going to get recently cold,
but cloud rolled in a wee bit of wind and
nothing eventuated, but was still on call probably through to
mid November, end of November, where everyone's sort of on
edge and watching temperatures and those southerlyas that come up.
(25:31):
I know a few guys in central Otago have been
fighting the frost even on Monday morning after Bethurst. To you,
guys are a bit struggling now and the fight in
the morning. So yeah, no, it's where everyone's pretty much
still on the right through the country road.
Speaker 3 (25:48):
To be fair, Apart from the top ten shootout, that
probably would have been the most exciting part of the
weekend was the frost because that race was the most
boring race in history. Is the industry tracking as a
whole at the moment?
Speaker 7 (26:03):
Yeah, no, I mean we're ten days ahead here in Marlborough,
and I think most of the country is sort of
ahead and growing and growth, so things are really racing
along this plant and Marlborough We've had another twenty miles
on the weekend recentaly warm day, so things are racing along.
The wine selling of wine is you know, it's a battle.
There's a lot of savvy and blanc around, but there
(26:24):
is some pick up and our wine throughout the world
is still really well known and is selling well and
winning lots of awards.
Speaker 3 (26:33):
Yeah. Now, speaking of awards, you've got a special guest
on the line.
Speaker 7 (26:37):
Yeah, so we've got Simon Bischell from Caythorpe Wines here
and Simon's here to tell us about how they've done
in their recent awards.
Speaker 6 (26:44):
Yeah.
Speaker 5 (26:45):
Good afternoon, Rowland. Thanks for the opportunity to be on
your show today.
Speaker 3 (26:50):
No, it's great to chat to you because you and
I met back in twenty nineteen when I was seeing
the Century Farm and Station Awards and Lawrence and your
family was on it.
Speaker 5 (27:00):
Yes. Yes, we've prod with offense of a award and
year in twenty nineteen. So our farm was established in
eighteen seventy six. Oh, sorry, eighteen seventy six. Ancestor David
traveled out to New Zealand and established our family property
case of in eighteen eighty. So you we're one hundred
and forty four years this year.
Speaker 3 (27:20):
Wow. I look forward to seeing you in six years
when you celebrate your one fiftieth This year directly back
for that, and you've continued your association with the awards
by supplying the wine every year. So I'm a recipient
of your generosity every year, so on behalf of everyone
who gets to partake. Thank you so much.
Speaker 5 (27:39):
I no, it's a wonderful event that we enjoy supporting.
Speaker 3 (27:42):
Yeah, it really really is. So tell me about the
award that you guys have picked up. This is pretty exciting.
Speaker 5 (27:48):
Yes, So we picked up a gold medal in the
twenty twenty four New World one Awards and also inclusion
in the top fifty selection. So that is our twenty
two three Rose now has distribution through every New World
store in the country for the next five weeks or
until stops last.
Speaker 3 (28:07):
That's pretty awesome.
Speaker 5 (28:08):
Yes, you know, really really exciting for us, in particularly
smaller brands. You know, it's really difficult to try and
get your product out there and in the market. So
to pick up an award like this and exposure that
this award provides New World stores is invaluable. Really pretty cool.
Speaker 3 (28:25):
Tell me about your Rose.
Speaker 5 (28:26):
Well, it's a rose drinker's dream, really. I think if
you're thinking fresh strawberries, a bit of watermelon, and some
country peer just a lovely, lovely drink on a summer's day,
certainly as we're approaching the warmer months.
Speaker 3 (28:41):
Delicious, You've got me drooling now, and you may tempt
me away from my beloved peno. No, now, you guys
were on Country Calendar this year, weren't you.
Speaker 5 (28:49):
Yes, we did. You know, it's been a pretty big
year for us, So yeah, we had an episode in
Country Calendar back in July. So that was a great
experience and some more pretty conficant exposure for the farm
and have some nice feedback from us, and yeah, it
was wonderful experience as well.
Speaker 3 (29:05):
Yeah, good to hear you. The second person from Country
Calendar we've had on the show this week. We had
Ruth Ankian from Some Moore on Monday's show as well.
Now I digress anyway, Blizzard, you have twisted Simon's arm
and convinced him to give away a couple of fun packs,
one for the North one for the South.
Speaker 5 (29:22):
Yeah.
Speaker 7 (29:23):
Yes, I've actually tasted some of that rose and I
thought it We're down pretty well with what did I
have it with? I was hoping to have bluff Oysters,
but they are out of the season. But now as yeah,
it's a great, great drop and thanks for Simon and
Case giving a couple of fun packs away. And I
think the idea would be to Texan your favorite country host.
The name of the favorite country host would be a
(29:44):
good idea. Done you Reckon row Yeah, I.
Speaker 3 (29:46):
Reckon and my name is spelled row e n a everyone,
but no, have a bit of fun with this. We're
not being serious. Just tell us who your favorite country
host and we all know it's going to be me
because I'm the one who gets to draw this. Send
it through to five below nine. Don't forget to include
your courier address so we know where to see the
fun packs to him, we can tell one is going
(30:06):
to the north, one is going to the south. Blear
Blizzard MacLean out of Fruit Feed Supplies and Billien him
Simon Bishell out of Caythorpe Wines. Thank you both so
much for joining me to bring a bit of cheer
to everyone on the country today.
Speaker 5 (30:19):
Thanks very much, bro, no problem, Thank you very much.
On Happy Wednesday, all.
Speaker 2 (30:24):
This woud be free, This wudous one.
Speaker 3 (30:31):
I want to redfree.
Speaker 5 (30:35):
Well.
Speaker 3 (30:35):
It is an exciting time in the calendar for the
New Zealander young farmers competition, with the district finals getting
underway this Saturday. Joining me now is CEO Linda Coppersmith.
Good afternoon, hey Roy, how are you going very well?
Thank you lovely to bump into you last Thursday Linda
at the New Zealand Young Grower of the Year contest.
Speaker 4 (30:54):
It was a good night. It was nice not to
be in charge for a change.
Speaker 3 (30:57):
I bet, I bet hey as I mean. And huge
week for you guys at Young Farmers with the district
finals just literally days away.
Speaker 4 (31:07):
Yeah, first district final is for our Casman region, which
is this Saturday at Alleeshnir Show, so it'll be running
alongside Alashnire's show. For those of you that want to
come and watch the district final. What don't want to
go into the show that separate entry, so hey come
along and have a look.
Speaker 3 (31:22):
Yeah, it's always exciting. Now, how many district finals roughly
are we looking at around the country to find those
regional competitors.
Speaker 4 (31:30):
So this year we've scaled the district finals back and
we're having one per region, so we're having seven district
finals with open entry across the country. In the past
we had twelve to fourteen, but it's a lot of work,
so we've decided to kind of consolidate. So yeah, it'll
run basically over October and November, it's slightly into December and.
Speaker 3 (31:50):
Then we're into the regional finals. Where As we saw
last year around the country, the whole format changed. Everyone
was on the same page Linda, did it work well?
Speaker 4 (32:00):
It was no, not really, well it didn't. It didn't,
So we've sort of got a hybrid. Now was the
way that we're doing it this year. We found that
having the open entry on the Friday was the top
eight going through the Saturday was a little bit challenging
for those top eight and that they didn't really have
time to prepare. It's a little bit uncertainty and also
made it really hard to sell tickets on the Saturday
night as people didn't know who was going to be
(32:22):
on the stage. So we had to do a bit
of rejigging, bring back with the strict format, but also
just bearing in mind that we've got such wonderful volunteers
that do all the work for those districts. We don't
want to overload them. So the hents why we're having
the seven separate districts this year.
Speaker 3 (32:36):
Yeah, good on you and I said this last year
for actually trying something different, to try and work with
how people's lives are changing.
Speaker 4 (32:45):
Absolutely.
Speaker 1 (32:46):
You know.
Speaker 4 (32:46):
One of the things that we've worked out is it
to round about four thousand hours a year of volunteer
time that comes from the Young Farmers membership base to
run Young Farmer of the Year, as well as all
the support we get from our sponsors. So you know,
we want to do everything we can to make it
as easy as possible and as fun as possible and
(33:07):
not stress our members out too much with the amount
of work involved at a busy time of the year.
Speaker 7 (33:11):
Yeah.
Speaker 3 (33:12):
Great, How are entries going.
Speaker 4 (33:14):
We're looking pretty good so far, given that we're just
about to start and we've still got about another seven
weeks to go. We're at I read about one hundred
hundred and two. I think it is so, so, really
good terries for this weekend into Tasman. What I will
say to any of you young farmers that are out
there listening is that we are still having some really
good conversations with some sponsors and that might make the
(33:34):
prize pool look even better by the time we get
to Grand Final. So I can't say what that is,
but it's pretty exciting stuff to get your entry in.
Speaker 3 (33:42):
Yeah, brilliant and look being in trouble focus at this
point in time before you've even had your first destrict
final is great. Now speaking of entries, though, entries for
TEENAGG and aggregads open on Monday.
Speaker 4 (33:55):
They certainly do, so make sure you get in there
and get your registrations in where we'll keep them moving
for a fair fair while. So it'd be great if
you could get them in before Christmas and be good
to see you on the field in February March April.
Speaker 3 (34:08):
Yeah, looking forward to it and obviously Grand Final this
year and in Vicago or coming up. It'll be twenty
twenty five July before we actually get there, but great
to be heading to the Deep South. I've been to
the Grand Final and in v Cargo before. I won't
speak about what happened after the after party, but it
involved having my photo taken with a police person. But
(34:31):
one of the great things about Grand Final down in
the Deep South southern sushi cheese rolls.
Speaker 4 (34:37):
Absolutely. I think my first ever regional final that I
went to was in Itago, Southland and we had a
cheese roll benda there in a caravan and I thought
it was Christmas because I'm a big fan of the
old cheese roles. So yeah, hopefully they we be plenty
of cheese rolls around.
Speaker 3 (34:51):
Well, if there's cheese rolls, I will be there. Linda
Coppin Smith, CEO of New Zealand Young Farmers, appreciate the
update and good luck with the first district final this Saturday.
Thanks ro It is about four and a half away
from one, rapidly approaching the end of the show. Look,
thanks so much for actually having fun. Would that we
(35:12):
giveaway of the fun packs, one to the North, one
to the South, courtesy of the team at Kythorpe Family Wines. There, Yeah,
one hundred and forty years they've been going. Great to
see them one hundred and forty four, I think, great
to see them honored at the Century Farm and Station Awards. Look,
if you've got a property that has been passed down
through the generations you've owned the same piece of land
(35:33):
might have been might have shrunk, it might have grown,
but for more than one hundred years, get in touch
with the team at Lawrence Just google it online Century
Farm and Station Awards because you could be eligible to
be recognized in these awards that are just so so special. Yeah,
textor from Mars. You have to tell the story of
the police photo. Basically, I just imbibed a bit too much,
(35:55):
found a police person and decided they wanted to have
their photo taken with me. It's a little bit embarrassing.
I've got someone else's tie on my hair. Really wasn't
my classiest moment. Thankfully I've grown up since then. Congratulations
are our winner of the fun Pack and the South
Sharon and Darryl McMillan. They're at Woodlands just out of
Invercargo and in the North Joe McGowan, Ardi two Otane
(36:18):
and Hawks Bay. We will send a fun pack in
either direction. Hope you enjoy those. Kay Thorpe Bynes, thank
you so much for your company once again today. I
will be back to do it all again tomorrow twelve
to one Here on the Country. If you've missed any
of the show this shows this week, check out our podcast,
but take care enjoy the rest of your Wednesday.
Speaker 1 (36:43):
Catch you all the latest from the land. It's the
Country Podcast with Jamie McGue Thanks to Brent, You're specialist
in John Dere Machinery
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