Jamie Mackay: The Country host on Rabobank's latest agribusiness report for August

Rabobank has unveiled their latest agribusiness report for August - and claimed there's plenty to watch going forward.

Dairy, beef and sheepmeat are seeing good results, with momentum likely to continue, but there's some concerns impacting the global market.

The Country's Jamie Mackay explained further. 

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Episode Transcript

Speaker 1 (00:00):
Jamie mckaie, host of the Countries with US. Hello Jamie,
Hello Heather, welcome back, Thank you mate. What's and rubber banks?

Speaker 2 (00:05):
Let us report? Then? Well it's mate, Well it's a
report or a lleger should I say, of two halves
not surprising. Really look the income side of it, and
they've looked at dairy, beef and sheep meat now beef
and sheep meat, beef and lamb effectively, and a bit
of mutton thrown and is looking really good, just off
reduced global supply. And when we look at the likes

(00:28):
of beef, we have no tariffs on that going into
the very important US market, our biggest red and meat market.
Now for the keyw fruit dairy is a bit more interesting.
We've had a couple of good positive GDTs after about
three bad or negative ones to start the new dairy season.
Our production in June was at record highs, but that's

(00:50):
sort of like winter milking, so it's pretty small numbers.
It looks like we could break another record for annual production,
providing the supereno doesn't come and ruin the party. So
that's all looking good. What's not so flash as the
farm input side of the ledger fertilizers a bit of
a shaker off what's happening in the Middle East fuels

(01:12):
very much the same. It's up and down. This report
was written before Trump had made a few soothing noises
in recent days. But fuel and fertilizer are still killers
for farmers. And the other thing it looks at in
the reporters interst rates and exchange rates. So what Rabobank's
saying either, and this applies to everyone, not just farmers.
The OCR obviously went to two and a half percent

(01:34):
in July. There economists are picking further rate hikes in September, December,
and February that would bring our OCR to three point
two five percent. And off the back of those ra
higher interest rates, our dollars rallied a bit. We're trading
at what just under sixty or something at the moment.

Speaker 1 (01:55):
And listen, tell me what farmers think of those new
secondary school subjects.

Speaker 2 (01:59):
Well, I don't know. I haven't spoken directly to a farmer,
but I read Federated Farmer's press release and I guess
they speak on behalf of farmers. Heather. Look, I think
it's really positive there. They're encouraging industry leads secondary school subjects.
Federated Farmers say it's a major one. The Meat and
Wool chair Richard Dawkins, or Federated Farmer's spokesperson on this,

(02:21):
Richard Dawkins says this is the kind of practical industry
lead approach and exactly what the sector had in mind
when t PUKINGA was disestablished. So supporting young farmers is
one of Federated Farmers policy priorities for twenty twenty six. Incidentally,
they have another couple that will help young farmers reviewing

(02:42):
the Sheer Milking Agreements Act and including agricultural and horticultural
science within the year zero to ten science curriculum. And
I say it should be in there.

Speaker 1 (02:54):
Yeah, fair point. Hey, Jamie, thank you was always as
lovely to talk to you. Jamie McKay hosts of the Country.

Speaker 2 (02:58):
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