March 19, 2025 • 36 mins
Jamie Mackay talks to Miles Hurrell, Sandra Matthews, Peter Newbold, Chris Russell, and Jeremy Rookes.
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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, you're specialist in
John Deere construction equipment.
Speaker 2 (00:31):
Good afternoon, New Zealand. So this is the Country. It's
brought to you by Brandt. I was going to say
we're growing a better New Zealand together, but that's Rabobanks tagline.
Maybe I should say Fonterra, we're growing a better New
Zealand together because we are going to well, this is legs,
by the way, and I guess the dairy industry's got
legs at the moment. And New Zealand is officially out
(00:53):
of recession off the back of agriculture and to a
lesser degree tourism. So we've ounce back from a one
point one percent decrease our GDP in the September twenty
twenty four quarter. The December twenty twenty four quarter surprised
the market's a weebit this morning, up zero point seven percent.
(01:14):
Multiply that by four you get two point eight percent.
I wonder if we can get that sort of annualized growth.
But anyhow, Fonterra is grow going great guns. They announced
an excellent half year result this morning. Miles Hule to
kick off the show. Sandra Matthews is the national president
of Rural Women en Z based out of Gisbon. Bit
(01:34):
of a rain warning. They're parts of the North Island parched,
other parts under a rain warning. Peter Newbold, we'll have
a monthly look at the state of the rural market
with the GM of PGG rights and real estate. No surprise,
the dairy industries driving the rural market at the moment.
Chris Russell's our Ossie correspondent. And just to lighten things
up for you on a Thursday, it is Jeremy Rooks
(01:57):
our Lifestyle Hobby Farmer Chorus Bond out of Canterbury where
they've had some good rain as well. But Miles Hurrell
to kick off the show today with the good news
story of the day on Terra's half year result. Conterra
(02:25):
reports an increase net profit and interim dividend. That is
the headline I read this morning on business desk. To
run us through the numbers, the chief executive Miles Hurrell. Miles,
were all these sort of in line with market expectations?
Speaker 3 (02:40):
Yeah, good hing, Jamie, are that they're in line with
probably the expectations that we put out a week or
ten days ago when we when we increased our guidence,
so as we went to close out the half year
the numbers that it became obvious to us that actually
we'd had a very good half year and therefore the
full year was it was a little bit undercooked in
terms of the guidance we had out there, so reason
we came to market, so not a jar from we
(03:01):
we were ten days ago, but from where we opened
the season on the back of a pretty low milk
price last year, through a ten dollars milk price this
year and then guide into fifty five to seventy five.
It's a pretty good result from the team and I'm
bloody proud of it.
Speaker 2 (03:15):
Well, so you should be. Let's have a look at
some of these numbers. Let's crunch the numbers, the forecast
milk price. You've just narrowed the band down there, it's
now between nine seventy and ten thirty ten dollars smiles, hurles,
locked and loaded there.
Speaker 3 (03:29):
Yeah, I mean it's a few months ago before we
close the books completely endo July, but we feel confident
as we sit here today. You know, milk Milk's up
across the country. Not what we're saying that it's pretty
dry at the moment, but milk. Milk's still up across
the country and buyers know that, and so we just
need to keep an eye on that a little bit
and make sure that it sort of doesn't catch us
out at the last hurdle. But as we sit here today,
(03:49):
ten bucks teen bucks looks a pretty solid position for us.
Speaker 2 (03:52):
Yet, just on those milk volumes, is the North Island
drought not going to take its toll there?
Speaker 3 (03:57):
Well? Interesting enough milks still hold, you know, would suggests
to me there's obviously but a supplementary feed going and
I guess at ten dollars, farmers will make your own
calls on that. So you know, it's certainly not coming
off at the rate we would have historically. That seed
will get to a point where it just doesn't work
economically and farmers will make the call and we'll see it.
We'll set up peel off quite quickly. But as we're
(04:18):
city today, it's holding up pretty well all things considered.
Speaker 2 (04:22):
Fonterra Farmer shareholders get paid in two different ways. One
is for the milk price, the other one is the
dividend on their co op shares. Now the interim dividend
is twenty two cents per share, up from fifteen cents
last year. But the differences and this is only half
your dividend, well, this is tax paid.
Speaker 3 (04:39):
Yeah, fully impewed it. So twenty two cents versus last
year fifteen. I mean, I guess the headline number is
there fifteen last year to close on thirty or thirty
and a half cents if you'd talk of tax pay position,
So I guess that's a reflection of that our tax
losses that we'd accumulated over many years are no longer
and so you know, farmers should see that as a positive.
That twenty two cents tax paid is a great position.
Speaker 2 (05:02):
Now you're going to smash the record for the best
evidend because the previous best, by my reckoning anyhow, was
fifty five cents last season. Of course that wasn't tax paid,
so you're going to beat that comfortably.
Speaker 3 (05:15):
Well, that's certainly the aim, and our team's got the
shoulders of the wheel over the next few months to
ensure we do close out the year in a positive fashion.
And we sit here today feeling good about that. But
you know, you only have to pick up any of
the newspapers on Maintree Media to see some of the
macroeconomic positions that are out there, that duo politics that
are in play, and so we need to watch that carefully.
We've nevi god it very well today and see no
(05:36):
reason why we can't into the future. But you were
in a different world than we were a few years ago,
that's for sure.
Speaker 2 (05:41):
What about the advance rate schedule, the payment farmers get
in the advance before the final one. Have you lifted that?
Speaker 3 (05:48):
Well, we did this season, and that was on the
back of you know, those high input costs going back
a year or two and what was a pretty sort
of lackluster milk price going into last season. So we
decided this year to increase that advance rate, which gave
cash to farmers earlier. You know, we'll have a good
look at that and see should we do it again
to the season ahead, and we'll obviously talk to the
board in the right time. But it's just great to
(06:09):
have the flexibility to be able to talk about this, Jamie.
That to have a balance sheet where you can do
that is just it's just unbelievable. Compared to we were
a few years ago, So it's a nice luxury to have.
We'll assess that going into the new season ahead and
with the board in the next few weeks.
Speaker 2 (06:23):
I see the ingredients business has an increased profit. That's wonderful.
Your consumer channel, this is the one that you're going
to flag off. Sales grew by eight point five percent.
Are you sure you should be selling the smiles?
Speaker 3 (06:37):
Well, I mean the headline number is it is a
good It is a good number of revenues up gross margins.
I mean those are good news stories, of course when
you look at it from just those two metrics alone.
But again, it all comes back to that return on
capital we've talked previously. You know, it's about a three
point four percent of three or four billion or other
capital tied up in that consumer business. So it needs
(06:58):
to return signal any more than that to even keep
pace with our ingredients or even our food service business.
And so, yes, that the headline number, it looks like
it's heading in the right direction. But you know, we're
a long long way off where I believe we need
to get to from a respectable turn from a farmer's perspective,
and therefore it is the right time to think of
other new ownership structures out there. Hence the reason we're
(07:19):
going hard out on both trade sale and and IPO.
As we speak a.
Speaker 2 (07:23):
Wee bit earlier this morning, I had a look at
your share price four dollars ninety four as a yield.
It's not a bad investment your Fonterra shares these days.
Speaker 3 (07:30):
Yeah, Well, the shee pross will be what the shoe
pros will be, and my farmers will determine that because
they obviously sell amongst themselves, sell them, buy and sell them,
make themselves. But you know, our drivers to deliver the
results that you've seen today, and hopefully that gives some
confidence and momentum to farmers who to take up those shares.
But they'll make their own course. But you're pleasing to
see the momentum in that regard.
Speaker 2 (07:51):
John Keith famously said New Zealand goes where Fonterra goes.
Maybe we're getting back to those heady days.
Speaker 3 (07:58):
Well, I mean it is pleasing to the usual and
as we all know, economically struggling along a little bit
at the moment, and so you know, to see the
New Zealand airy industry and Fontira sort of helping it
and doing its part. I mean, that's great news for
us and finally maybe a farmer will get some of
the recognition that they deserve.
Speaker 2 (08:15):
Myles Harrell, thanks for your time. Congratulations to you, Peter
McBride and all the team at Fonterra. This is a
great result.
Speaker 3 (08:21):
Great thanks for us. John, We talk you soon.
Speaker 2 (08:24):
Yeah, a good result. Indeed, what did he say? He
was bloody proud of the co ops. Excellent half year result.
We'll talk to a Fonterra farmer shareholder tomorrow, Smiley Barrett.
He's on the West coasts in southern coastal Taranaki. There
very very dry on the other side of the island
where we're going next with Sandra Matthews, National President of
(08:46):
Rural Women and Z. They've got a heavy rain warning.
We'll have a yarn to her. Peter Newbolt on how
much your farm's worth. I'm I'm just pondering the pine
trees in that factor, in that equation. And Chris Russell,
our OSI correspondent, Jeremy Rox's lifestyle. I'll be farmer correspondents
(09:07):
some useful ragn and Canterbury as well, unless, of course,
you're a cropping farmer or a seed farmer, and you're
trying to get the crops in and harvested. Okay, you
can never please all of the people all the time.
Sandra Matthews and Gisbon next, welcome back to the country.
(09:36):
Just getting ourselves sordid here zz Top Apparently they've added,
according to Michelle, a christ Church show to their can
New Zealand Taurum. I'm just wondering whether zz top might
be passed their best by now. We'll ponder that one
a week bit later in the hour. But someone who's
right on top of a game is the National President
of Rural Women in z Gisbine Farmer Sandra Matthews And Sandra,
(09:59):
I see there's a heavy rain warning for the east
coast Gisbone, Wirah Hawks Bay, Hawk's Bay or welcome it.
Do you guys need it?
Speaker 4 (10:08):
Yeah, Hi, Jamie. There's a southeasterly that's floating around us
at the moment, and overnight we had about twenty mils
where I'm based fifty kilometers northwestern Gisbon, and it's just
swirling around. So it's been raining heavily all morning. I'm
sitting nicely in my home in the dry and the
ends out there working doing some fencing repairs.
Speaker 2 (10:26):
Well that's the way, that's the way it should be. Look,
we know that the North Island, particularly the western side
of it and the northern part of it's very very dry.
I'm hoping they're getting some spill over from this rain event.
I'm not quite sure if they are. Texas on five
O nine. If you're in a drought area in the
North Island, let us know how you're getting on at
(10:46):
your place and where you're from. But it just creates
mental health issues. And I know that rural women and
z have been doing a lot of good work in
that space.
Speaker 5 (10:57):
Yeah, we have.
Speaker 4 (10:57):
And I also have just actually been down to Tasman
area and driven through through to merchants and ringing or
in christ Church last week when I've been working through
all women people down around there, and there are pockets
of very very dry areas, which is really concerning. We
are we're talking around with Minister Doocy and Mark Patterson.
(11:19):
Minister Patterson just around ensuring that we do have adequate
services in our real communities and making sure, I mean,
our stats are really bad and we're making sure that
we're really pushing for support into royal communities to make
sure that we have that support. So it's an ongoing
discussion and it's not a win overnight because obviously we
understand in the health services that really that we are
(11:42):
up against a lack of numbers and nurses and psychologists
all those sort of things. But we are doing the
best that we can, talking to as many people as
we can. There is concerns obviously out around with the
decorations right around the North Island and down into Marlboro
and Tasman. The one thing I will say, after going
through many direct droughts in our tyrietity area is that
(12:04):
this actually brings a bit of support to people. The
income Equalization scheme which has actually helped us get through
droughts and talking to your accountant those sort of things
and be proactive. That's the one thing that experiencing many
droughts since we've been farming here for thirty odd years,
is that be proactive, decide what stock you can get
rid of, unload them wherever you can, and make early decisions.
(12:27):
So that's what we're sort of talking to people about.
And obviously the RST support's been stepped up, so there's
RST support as well. So yeah, we're just trying to
support as much as we can and we'll step in
and help where we can over the next few months
while people are going through these meeting scale droughts.
Speaker 2 (12:42):
Yeah, don't be afraid to ask for help. And the
Rural Support Trusts, as you mentioned, are doing great work there.
You're also on the warpath or not on the warpath.
But one of the hot issues at the moment is
the rural school buses.
Speaker 4 (12:54):
Yeah, we've had a meeting with Minister Stanford and Minnester
Patterson as well, talking around the school bus is year
because right around the country there are changes to school
buses and really what they're doing is putting back in
place the policy that's been in place for way too long.
So our discussions have been around okay, we would really
like a review of that policy and work with the
(13:16):
Ministry and the Minister's office and MZTA and other parties
like Federative Farmers. Let's get around the table and try
and work this issue through. Because even and where I
live at really our house is three point two kilometers
from the local school, which is on a you know,
it's on a bit of a rough road and the
school sorry three point one kilometers and the buses pick
(13:37):
up at three point two. So you know, this policy
has been in for a long time, and we're actually
calling for a review of the policy so that a
bit of fairness can go into this. Hey, Andre, there's
a lot of places that have gone into Pine Tree.
So our demographics and our real communities are changing.
Speaker 2 (13:53):
You might have to do what my father was very
tempted to do back in the day when there was
a boarding school allowance, just change the driveway. He was
going to bulldoze a new driveway so we would fit
the criteria for a subsidy for boarding school.
Speaker 4 (14:07):
Yeah, and I think a few people have done that
over the years, Jamie. Yeah, we've got a few big
oat trees that we can't do that, even though we
haven't got children at school anymore. But I mean, the
thing is that there's also on the flip side of that,
there's also people bypassing their local school and one of
the buses to take them to other schools.
Speaker 5 (14:23):
So there's a lot involved.
Speaker 4 (14:24):
In this over the last few generations, and it's trying
to get some common sense around us, and that's what.
Speaker 2 (14:28):
We'll be talking about Okay, one to really quickly finish
on awkward subject. Hormone patches, blogs, scatter easy. We don't
have to have hormone patches or cervical smears or mammograms,
so you know this is woman's problems. Just be quick
on this one because I feel uncomfortable.
Speaker 4 (14:45):
Yeah, it's not really a woman's problem, if you know,
it's we all know that if you live with at
menopause a woman or verymenopause a woman, it's everybody's problem.
So it's helping to understand what that's all about and
how it affects a woman as she gets older. And
we've been submitting on hormone patches and the actual medications
(15:07):
that help women all in my.
Speaker 5 (15:09):
Case a little bit less.
Speaker 4 (15:10):
Crazy, let's probably Ian would say, and the patches and
the gels and the things that we're asking the government
to fund that actually helps women to actually sleep and
have a better quality of life as they're going through
those stages of life. So we've been working hard on
that and gain some traction. The government's come out with
a few different options, so we're fairly happy about how
(15:32):
that's going at the moment, and we're making sure that
men like yourself, Jamie, feel more comfortable about talking about
senapaus imperimnimal.
Speaker 2 (15:40):
Wow. I'm a bloke and I'm a boomer, so I
struck the double. You can't get any luckier than that. Hey,
Sandra Matthews, thank you for your time. Keep up the
good work at Rural Women in z Thanks Jamie. There
we go, Sandra and Gisbone, Smiley, Barrett and Taraaniki tomorrow.
I wonder how he's getting on there. Incredibly dry, they're
(16:00):
at the moment. Up next Peter Newbold and Monthly, look
at the state of the rural market. And what about
the pine trees. It kind of is the elephant in
the room. We'll have a look at that one as well.
The rural market being driven right at the moment by
the good dairy returns. Today's big story is Fonterra's excellent
half year result. And the other one, if you haven't
caught up on it, we are out of recession. GDP
(16:23):
rows zero point seven percent in the December twenty four quarter,
So good news, I think. Up next to Peter Newbolt
Monthly here on the Country we take a look at
(16:44):
the state of the rural real estate market with the
team from PGG Rights and the bloke running the show
as Peter Newbold, Peter renewed interest in farming as an investment.
I guess a lot of this is being driven off
the good returns for dairy farming.
Speaker 6 (17:00):
Oh yeah, Jamie. The dairy is I think the catalyst,
and if you look back over time, it always has been.
So what happens the areas they are in good shape,
They then look at I guess, expanding their property portfolios,
which helps set market prices and that stimulates others. So
what we're seeing is through that they've been purchasing other properties,
(17:21):
which has stimulated that whole market. And so we're now
seeing a lot more activity in the sheep and beef
and even down through to those smaller, you know, sub
hundred sub ten hectier properties. But definitely, I think that's
the catalyst, and you know, things look good if you
look out over the next twelve to eighty months, it
(17:41):
looks pretty solid. Yeah.
Speaker 2 (17:43):
Indeed, that Rabo Farmer Confidence survey we talked about on
yesterday's show driven by sheep and beef farmers. So I'm
putting strong wall to one side again because it is
the troubled child if you want, of the primary sector,
but sheep and beefer standalone is positive at the moment.
Speaker 6 (18:02):
Yeah, look, it's really good and I think you're seeing
getting good pricing for their sheep and cattle. And again
that's if you look out, that's looking good going right
through into next season. So that's given them confidence. I
think you've seen inflation under control. You're seeing more activities
and sales taking place and interesting other weeks at the
(18:22):
Wantaker Show, which is one of the best events in town,
and speaking to speaking to farmers and clients there, you
generally get a feeling that things are a lot better
and they can see light at the end of the tunnel,
and so yeah, I think we're going to see more
activity and that'll help because everyone will be in a
(18:43):
better space too financially.
Speaker 2 (18:45):
Let's have a look at horticulture. I would have thought
Kiwi fruit would be a good bet at the moment.
Speaker 6 (18:51):
Yeah, look, it is. You know, you've often asked me
that question and it's been sort of it are just
sort of meandering along. But talking to my team, we
definitely feel that there's a new cycle coming through and
we're starting to see, you know, really over the last
month or so, some renewed activity and interest in that,
(19:11):
and I think we're going to see that market move forward,
like I guess what's happened in dairy and sheep and
beef over the coming season. So that's really good because
it's been in a bit of a bit of a
holding block at the moment. But definitely there's signs and
we're seeing activity. So that's again, you know, you look
at that cheat and beef, dairy, hought, everything's looking pretty
(19:33):
good at the moment.
Speaker 2 (19:35):
Prices haven't really gone up, or as far as I
can see, they haven't gone up across the board. Our
land prices have been pretty static. Is there just more
realism in the market now?
Speaker 6 (19:45):
Yeah. I think what's happening is, you know, those that
are purchasing are stuit and so we're seeing actually, I
think properties you know, meeting the market as such. So
we're seeing a lot of I guess called it stock
being cleaneder, but yeah, we're not seeing a lot of
increases there. Of course, there's the odd property that comes
to market which is one of those unique price places
(20:07):
and they may get a premium, but in general terms,
we're seeing not a lot of movement there. The only
thing that sometimes does affect that if it's going to trees,
and then you'll see there's often a premium paid there.
But in general terms, to answer your question, no, I
think values are staying fairly, fairly stable at this point
in time.
Speaker 2 (20:28):
Well, let's finish by addressing the elephant in the room.
And you've mentioned it trees, namely pine trees being planted
on good arable and grazing country. It's still happening, Peter Newbold.
Speaker 6 (20:40):
Yeah, look it is, and I think it needs to
be managed better. And I know that coming up towards
I think it's the end of the year, the rules
change and you know classes of land which will come in,
and I think that's a good thing. I still you know,
there's a place for trees, but we don't want trees
on good, good country which produces good stock. So I
(21:03):
think there needs to be a balance there. And that's
look like, that is looking like what is going to
take place. And I think that's good for everybody, to
be brutally honest, But that's my opinion. Not everyone will
agree with me there.
Speaker 2 (21:15):
Well, there's plenty of places to plant pine trees, but
north facing good grazing country or arable farmland. No blanket planting. No,
it's not my opinion. I'm steadfast on that one anyhow.
Some people will disagree with the pair of us. But
it's good to catch up here on a monthly basis,
Peter Newbold, and good to see the rural market looking positive.
Speaker 6 (21:37):
Yeah, thanks Jamie, and look at it. I think it's
just it's going to help the whole of New Zealand
if rural continues the word it is, so I think
that's just fantastic.
Speaker 2 (21:48):
Indeed, thank you, Peter. Yes, agriculture of the primary sector
is dragging or has dragged New Zealand out of recession.
Lots of texts coming in about the weather North Hyji,
north of Kaitai. Here still very very dry. No rain, Taranaki,
no rain up here on the Curry Curry Peninsula which
is up north way up north. Yes, so Northland Taranaki
(22:12):
is still very very dry. Here's another text, Oh my god,
refreshing that you can talk about women. News recently mentioned
pregnant people a few days ago. Yeah, I mean that's
just woke, ridiculous nonsense. It's pregnant women, not pregnant people. Anyhow, Umm,
I can't read that one. Can I read this one?
(22:34):
From Rocks? Just give me She's saying no, but he's
coming on. A wee bit later in the show, he said,
when the woman you love turns into a homicide or
maniac from forty five, it's a real world issue. Now
I've met his lovely wife, the long suffering Mary, and
if I was married to Rooks, I think I'd be
a homicidal maniac as well. We'll get him to defend
(22:56):
himself a wee bit later in the hour, but up
next to Michelle's in with rural news, we'll have a
look at sports news for you. Our favorite athlete joint
favorite athlete in New Zealand at the moment, Sam Ruth,
first fifteen year old to break four minutes for the mile.
We might touch briefly on that one. I will have
sports news for you as well, Chris Russell, Jeremy Rooks.
Before the end of the hour, Welcome back to the country.
(23:28):
Twenty two away from one. Here's the latest and rural
news with Michelle.
Speaker 1 (23:34):
The country's world news with Coup Cadet, New Zealand's leading
right on Lawnbower brand visit steel Ford Dot co dot
Nz for your local stockist and I.
Speaker 7 (23:43):
Know we touched on this earlier, but Hawks Bay Emergency
Management is on alert for as a forecast downpour hits
the region. Met Service has issued a heavy rain warning
for the y Roha District from nine am on Thursday
until midnight, were seventy to one hundred and ten millimeters
of rain expected to it is fourcase forecasting peak rates
of ten to twenty millimeters an hour. Warns of rapidly
(24:05):
rising waterways and flooding on the roads. The region's Civil
Defense says it's keeping an eye on the situation and
ask residents to follow the Wairoa District Council's Facebook page
for local updates and the Balance Farm Award. Regional awards
continue around the country. Last night it was Northland's turn
to celebrate the top regional farming Talent, announcing Rob and
Mandy Pie of Mangoe Falls Farm and Cocopo Fuga Day
(24:28):
as the Northern Northland Region Supreme Winners. They will be
considered for the Gordon Stevenson Memorial Trophy. The Trust National
Showcase in Wellington and in June, and the next one
is in Auckland later today.
Speaker 1 (24:42):
Sport with AFCO. Visit them online at a FCO dot
co dot Nz.
Speaker 2 (24:47):
Uncertainty Slimmy turns Ezy Top down a week but uncertainty
surrounds Blues captain Patrick Tilley Palotu's availability for Saturday Super
Rugby Pacific Derby against the Crusaders Eden Park. That'll be
a good game. The All blackslock has left this morning's
training in a medical vehicle. Doesn't sound good, does it.
(25:08):
Joseph Park has lip synced to the Shania Twain song
You're Still the One along Kerry Carey Beach. I wonder
if that's the same one that Texter was talking about.
I'm assuming it is.
Speaker 7 (25:18):
I think it might be. It's pretty far north, it's
up right past the light tip.
Speaker 2 (25:21):
Well, if you've seen Joseph lip syncing Shania Twain on
carry Carey Beach. In a bid to lure heavyweight boxing
champion Alexander Usik into a mandatory title defense, reports claim
U six team is already in discussions to meet IBF
beltholder Daniel Dubois instead, and Sam Ruth, our favorite athlete
(25:42):
of the day, has tempered talk of being on the
same level as Sam Tanner after becoming the first fifteen
year old in the world to dip under four minutes
for the mile, and no disrespect to Sam Tanner, who's
our leading miler and fifteen hundred meter runner in the
country at the moment of them shell. She's been looking
up all the stats on this one. This kid is
(26:04):
an out and out freak. He's beaten. What's the name
of the guy, Jacob.
Speaker 7 (26:09):
Jacob Inger Brickson from Norway. So he's a freak of
nature tour and he actually had I think he had
the world record originally for that age group.
Speaker 2 (26:15):
So he went under four minutes as a sixteen year old.
Sam Ruth has done it as a fifteen year old
and I loved him talking to Ryan Bridge this morning.
His reward for that wasn't a night on the booze,
Thank goodness. He went to Burger King.
Speaker 7 (26:29):
I think that was awesome, very wholesome.
Speaker 2 (26:31):
Yeah, okay. Up next to our Ossie correspondent Chris Russell
before the end of the hour, is he married to
a forty five year old homicidal maniac? I don't think so.
Jeremy Rook's our lifestyle and hobby correspondent at a Canterbury.
Speaker 1 (26:53):
Pausie update with Ecolab Solid Range, solid Products, solid Partnership,
Solid Results.
Speaker 2 (27:02):
Thursdays on the Country we hit across the Tasman catch
up with our Ossie based correspondent Chris Russell. Chris, the
ten richest people in Australia are worth two hundred and
fifty billion dollars. Gina Reinhart, the mining magnate, of course,
leads the field. Any farmers in there, well.
Speaker 8 (27:20):
Look, I think Gina righter in her own right you
could call a farmer, but certainly all of them have
farming interests. And I suppose Andrew Forrest who appears in
there as well. She's split with his wife Nicola and
they're both in the top ten now richest list. But
(27:41):
Gina ryan Hart certainly has put a lot of money
into farming, and she has her own brand of beef
that's sold in China, and she's top of the list
with around forty five billion as her claim to fame.
And then if you look at people like Cliff Palmer's
Palmer he's there with twenty two billion, Andrew Forrest fifteen billion,
(28:05):
and all of them have got interests in farming around Australia.
Gina Ryan Hart of course owns Rossy Boots, Twiggy Forests,
own Rim Williams. They're all now being turned into real
boutiqui brands, and so it's certainly a list of people
who don't have to worry or neither the next fourteen
generations of them have to worry about where the next
(28:25):
dollar is coming from.
Speaker 2 (28:26):
Well, selling those Ram Williams boots as good as they
are for seven or eight one hundred bucks, you'll get
rich pretty quick, i'd imagine. All right, talk to me
about the idea of diverting some of your US beef
to China. One spit and twice shire, is it?
Speaker 8 (28:43):
Yes, So this license system that they have in China,
we should automatically, we knew for shipping an abatise shipping
their meat in. Quite predictably, the Chinese have not automatically
renewed the most of the American licenses, and they all
from last month they all started to lapse, and so
(29:05):
the pork one has been renewed, interestingly, but the beef
one has not. So they're very much opportunistic about what
they ban and what they don't ban. But of course
Australian exporters were saying, well, we'll be that's great. We'll
send our grain fed meat over to China now and
we'll take up the gap. But there is some caution,
very wisely, because any decision to shift and divert beef
(29:27):
we're currently selling elsewhere into China is fairly short sighted.
Number one is the approvals could be granted next week
if it doesn't see China. And number two is we've
fallen into that trap before when the Einstein say the
definition of insanity is doing the same thing again and
especially yet different result. And in this case, we remember
when China fell over and they were buying seventy percent
(29:49):
of our mees or whatever it was. It just did
I have our wine and our wall. You know, it
just causes grief when they drop it over. So we
have now diversified, we have now sold to the markets.
So I think Australia is going to be very cautious
about jumping in and saying yes, well, you know, we'll
take all the beef we were selling to America or
elsewhere and start sending it to China because we know
(30:10):
it to have fallen into that same trap. But it's
going to change the way beef is sold, and certainly
like once again, it's going to become a tool in
the armory in the little war going on between China
and the US.
Speaker 2 (30:23):
Did you pick up on the story on working cats
being text deductible.
Speaker 8 (30:28):
Yeah, I did, And of course, as you know, no
great love for cats here. I mean, guess the most
tactical deductible thing about having a cat, O would say
would be the twenty two said bullet to get rid
of the bloody thing. But they are effective form of
rodent management on farms, and you can claim working dogs,
(30:49):
you can claim working horses, but you've never been able
to claim working cats. And there are some farmers that
are saying that their cats have saved them in terms
of rats chewing through wiring in their dairies and the
sort of rats and mice running around raiding their supplies
of grain and so on. They're saying that they're really important.
(31:12):
And while they used to use rat poison, they said
it's less effective than cats, expensive, and of course the
rat poison expensive and also unsafe. So they want to
be able to claim for the cats and the costs
of running the cats and the vet costs. So in
the United States and the United Kingdom they allow people
(31:33):
to make deductions for keeping working cats, but they'd have
to change some work rules here, and I would suggest
that the best thing they could do is just not
have any.
Speaker 2 (31:43):
Chris Russell, thanks as always for your time. Next week
we'll have a yarn about duck hunting band and parts
of Victoria due to bird flu. As opening weekend looms,
I think it's in mid April and Australia first Saturday
in May. Here in New Zealand, something to chew over
next week.
Speaker 8 (32:00):
No worries.
Speaker 2 (32:09):
A wrapping of our country. Zz Top have added a
christ Church show to their New Zealand tour. I wonder
whether our next guest or wander along to that. Jeremy
Rock's a lifestyle and hobby farmer correspondent. Just before we
get Jeremy on board, got a text in from Grant
Weller a golf made of mine from Riversdale. Grant and
his wife Bernie won their Balanced Farm Environment Awards in
(32:33):
twenty eleven, the first farming couple to outright win the awards,
and they beat Stephen Jane win Harrison. When Harris has
never forgiven Grant for that, but Grant says, another farm
down here, he farms on the hockinuy Hills in Southland
has just been signed up for trees. Another fifteen thousand
ewes gone blanket planting. This is a tragedy and our
(32:56):
next guest knows a wee bit about it because he
sold his farm in hawk Spay to trees, Jeremy Rooks.
So when will we see an end to this? Because
this isn't good, the blanket planting I'm talking about.
Speaker 5 (33:09):
I can't really see an end to it because things
are changing as well. As I mentioned last time I
was on about, they're now sort of buying the foreigners
are buying existing forests that have just been planted to
buy a pass a few the OIO rigs. So I
can't see it. And with government policy around this climate
change nonsense which national are fully invested in, it won't stop.
Speaker 2 (33:31):
Do you think the new rules that are due to
come and place into place, I think at the end
of the year or early next year to prevent blanket planting,
especially on good class land because some of this land
is Class four, five and six. As I understand it.
Speaker 5 (33:50):
Well, it will just be done differently, I'd imagine. Basically,
I mean, there's always a way around things. Isn't it so?
And people are worked that out of for pcuniary advantage Jamie, mind.
Speaker 2 (34:00):
You, Jeremy. As we saw yesterday with the Rabobank Farmer
Confidence survey, it's being led now by restored confidence for
sheep and beef farmers. You're getting record beef prices. Lamb
is good. It should be ten bucks, but it's eight
bucks or better. And muttons are returned, so sheep farming
is no longer the poor relation of dairy farming, although
(34:23):
the returns probably aren't as good obviously.
Speaker 5 (34:26):
Oh, I wouldn't say that. The cost structure is pretty high,
and I mean it has to be at the minimum
where it is now. But the beef jobs looking great.
Cartiles are going gangbusters, so there is a bit of optimism,
and particularly in Canterbury because we've had another two inches
of rain down here. So North Canterbury is a picture
which is you know, those sort of things help lift
(34:46):
morale as well, you know, like when guys have got
grass at least you feel like you're in control a
bit more so. Yeah, I don't know. I hear there
are ten dollars land contracts out for later in the winter,
but I'm not sure, who's propped them out?
Speaker 2 (34:58):
Okay, well, let's just you've got We've got enough time.
I've got a couple of minutes left for you to
get one issue off your chest. Now, be careful, this
is live. Don't get me sued.
Speaker 5 (35:10):
Well, I don't need to come who get your sued.
But and I just think that, as we said off
or this morning, is that I just think it's all
very well for the national government, and which is great.
They're out there trying to get a deal with India
and you know, trades the key as Fonterra's results showed today,
and beef showing at the moment and land to a point.
But meanwhile in this country, like Rome's burning internally at
(35:33):
the moment. I just think that, you know, there's a
real division going on. And everyone I've spoken to in
the last couple of three months, regardless of whether it's
been the roofers here or the builders and whatever, everyone's
feeling it. And everyone's really uncomfortable to sort of deal
with it. And and the bureaucracy as well. It's just
just doesn't change regardless of who's in power, and so
all of this, you know, they're completely ignoring any common
(35:55):
sense that, I mean, everything behind the scenes is still
the same as it was under labor and I think
run sick to death of it. So I just don't
know what's going to happen here, Jamie, because the way
we go where we're going to be in a bit
of trouble in a few years as a society.
Speaker 2 (36:09):
Well yeah, I believe we are becoming more divided as
a society and it's driven by driven by some activists
in my mind, but mind you, my mind mightn't be
what everyone else is thinking. Jeremy Rook's there. You never
die wondering what he's thinking. That wraps the Country for today.
We'll catch you back tomorrow. Thanks for listening. We do
appreciate it.
Speaker 1 (36:33):
Catch you're the latest from the land. It's the Country
Podcast with Jamie McGue. Thanks to Brent, You're specialist in
John Deere machinery.
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.
Speaker 2 (00:31):
Good afternoon, New Zealand. So this is the Country. It's
brought to you by Brandt. I was going to say
we're growing a better New Zealand together, but that's Rabobanks tagline.
Maybe I should say Fonterra, we're growing a better New
Zealand together because we are going to well, this is legs,
by the way, and I guess the dairy industry's got
legs at the moment. And New Zealand is officially out
(00:53):
of recession off the back of agriculture and to a
lesser degree tourism. So we've ounce back from a one
point one percent decrease our GDP in the September twenty
twenty four quarter. The December twenty twenty four quarter surprised
the market's a weebit this morning, up zero point seven percent.
(01:14):
Multiply that by four you get two point eight percent.
I wonder if we can get that sort of annualized growth.
But anyhow, Fonterra is grow going great guns. They announced
an excellent half year result this morning. Miles Hule to
kick off the show. Sandra Matthews is the national president
of Rural Women en Z based out of Gisbon. Bit
(01:34):
of a rain warning. They're parts of the North Island parched,
other parts under a rain warning. Peter Newbold, we'll have
a monthly look at the state of the rural market
with the GM of PGG rights and real estate. No surprise,
the dairy industries driving the rural market at the moment.
Chris Russell's our Ossie correspondent. And just to lighten things
up for you on a Thursday, it is Jeremy Rooks
(01:57):
our Lifestyle Hobby Farmer Chorus Bond out of Canterbury where
they've had some good rain as well. But Miles Hurrell
to kick off the show today with the good news
story of the day on Terra's half year result. Conterra
(02:25):
reports an increase net profit and interim dividend. That is
the headline I read this morning on business desk. To
run us through the numbers, the chief executive Miles Hurrell. Miles,
were all these sort of in line with market expectations?
Speaker 3 (02:40):
Yeah, good hing, Jamie, are that they're in line with
probably the expectations that we put out a week or
ten days ago when we when we increased our guidence,
so as we went to close out the half year
the numbers that it became obvious to us that actually
we'd had a very good half year and therefore the
full year was it was a little bit undercooked in
terms of the guidance we had out there, so reason
we came to market, so not a jar from we
(03:01):
we were ten days ago, but from where we opened
the season on the back of a pretty low milk
price last year, through a ten dollars milk price this
year and then guide into fifty five to seventy five.
It's a pretty good result from the team and I'm
bloody proud of it.
Speaker 2 (03:15):
Well, so you should be. Let's have a look at
some of these numbers. Let's crunch the numbers, the forecast
milk price. You've just narrowed the band down there, it's
now between nine seventy and ten thirty ten dollars smiles, hurles,
locked and loaded there.
Speaker 3 (03:29):
Yeah, I mean it's a few months ago before we
close the books completely endo July, but we feel confident
as we sit here today. You know, milk Milk's up
across the country. Not what we're saying that it's pretty
dry at the moment, but milk. Milk's still up across
the country and buyers know that, and so we just
need to keep an eye on that a little bit
and make sure that it sort of doesn't catch us
out at the last hurdle. But as we sit here today,
(03:49):
ten bucks teen bucks looks a pretty solid position for us.
Speaker 2 (03:52):
Yet, just on those milk volumes, is the North Island
drought not going to take its toll there?
Speaker 3 (03:57):
Well? Interesting enough milks still hold, you know, would suggests
to me there's obviously but a supplementary feed going and
I guess at ten dollars, farmers will make your own
calls on that. So you know, it's certainly not coming
off at the rate we would have historically. That seed
will get to a point where it just doesn't work
economically and farmers will make the call and we'll see it.
We'll set up peel off quite quickly. But as we're
(04:18):
city today, it's holding up pretty well all things considered.
Speaker 2 (04:22):
Fonterra Farmer shareholders get paid in two different ways. One
is for the milk price, the other one is the
dividend on their co op shares. Now the interim dividend
is twenty two cents per share, up from fifteen cents
last year. But the differences and this is only half
your dividend, well, this is tax paid.
Speaker 3 (04:39):
Yeah, fully impewed it. So twenty two cents versus last
year fifteen. I mean, I guess the headline number is
there fifteen last year to close on thirty or thirty
and a half cents if you'd talk of tax pay position,
So I guess that's a reflection of that our tax
losses that we'd accumulated over many years are no longer
and so you know, farmers should see that as a positive.
That twenty two cents tax paid is a great position.
Speaker 2 (05:02):
Now you're going to smash the record for the best
evidend because the previous best, by my reckoning anyhow, was
fifty five cents last season. Of course that wasn't tax paid,
so you're going to beat that comfortably.
Speaker 3 (05:15):
Well, that's certainly the aim, and our team's got the
shoulders of the wheel over the next few months to
ensure we do close out the year in a positive fashion.
And we sit here today feeling good about that. But
you know, you only have to pick up any of
the newspapers on Maintree Media to see some of the
macroeconomic positions that are out there, that duo politics that
are in play, and so we need to watch that carefully.
We've nevi god it very well today and see no
(05:36):
reason why we can't into the future. But you were
in a different world than we were a few years ago,
that's for sure.
Speaker 2 (05:41):
What about the advance rate schedule, the payment farmers get
in the advance before the final one. Have you lifted that?
Speaker 3 (05:48):
Well, we did this season, and that was on the
back of you know, those high input costs going back
a year or two and what was a pretty sort
of lackluster milk price going into last season. So we
decided this year to increase that advance rate, which gave
cash to farmers earlier. You know, we'll have a good
look at that and see should we do it again
to the season ahead, and we'll obviously talk to the
board in the right time. But it's just great to
(06:09):
have the flexibility to be able to talk about this, Jamie.
That to have a balance sheet where you can do
that is just it's just unbelievable. Compared to we were
a few years ago, So it's a nice luxury to have.
We'll assess that going into the new season ahead and
with the board in the next few weeks.
Speaker 2 (06:23):
I see the ingredients business has an increased profit. That's wonderful.
Your consumer channel, this is the one that you're going
to flag off. Sales grew by eight point five percent.
Are you sure you should be selling the smiles?
Speaker 3 (06:37):
Well, I mean the headline number is it is a
good It is a good number of revenues up gross margins.
I mean those are good news stories, of course when
you look at it from just those two metrics alone.
But again, it all comes back to that return on
capital we've talked previously. You know, it's about a three
point four percent of three or four billion or other
capital tied up in that consumer business. So it needs
(06:58):
to return signal any more than that to even keep
pace with our ingredients or even our food service business.
And so, yes, that the headline number, it looks like
it's heading in the right direction. But you know, we're
a long long way off where I believe we need
to get to from a respectable turn from a farmer's perspective,
and therefore it is the right time to think of
other new ownership structures out there. Hence the reason we're
(07:19):
going hard out on both trade sale and and IPO.
As we speak a.
Speaker 2 (07:23):
Wee bit earlier this morning, I had a look at
your share price four dollars ninety four as a yield.
It's not a bad investment your Fonterra shares these days.
Speaker 3 (07:30):
Yeah, Well, the shee pross will be what the shoe
pros will be, and my farmers will determine that because
they obviously sell amongst themselves, sell them, buy and sell them,
make themselves. But you know, our drivers to deliver the
results that you've seen today, and hopefully that gives some
confidence and momentum to farmers who to take up those shares.
But they'll make their own course. But you're pleasing to
see the momentum in that regard.
Speaker 2 (07:51):
John Keith famously said New Zealand goes where Fonterra goes.
Maybe we're getting back to those heady days.
Speaker 3 (07:58):
Well, I mean it is pleasing to the usual and
as we all know, economically struggling along a little bit
at the moment, and so you know, to see the
New Zealand airy industry and Fontira sort of helping it
and doing its part. I mean, that's great news for
us and finally maybe a farmer will get some of
the recognition that they deserve.
Speaker 2 (08:15):
Myles Harrell, thanks for your time. Congratulations to you, Peter
McBride and all the team at Fonterra. This is a
great result.
Speaker 3 (08:21):
Great thanks for us. John, We talk you soon.
Speaker 2 (08:24):
Yeah, a good result. Indeed, what did he say? He
was bloody proud of the co ops. Excellent half year result.
We'll talk to a Fonterra farmer shareholder tomorrow, Smiley Barrett.
He's on the West coasts in southern coastal Taranaki. There
very very dry on the other side of the island
where we're going next with Sandra Matthews, National President of
(08:46):
Rural Women and Z. They've got a heavy rain warning.
We'll have a yarn to her. Peter Newbolt on how
much your farm's worth. I'm I'm just pondering the pine
trees in that factor, in that equation. And Chris Russell,
our OSI correspondent, Jeremy Rox's lifestyle. I'll be farmer correspondents
(09:07):
some useful ragn and Canterbury as well, unless, of course,
you're a cropping farmer or a seed farmer, and you're
trying to get the crops in and harvested. Okay, you
can never please all of the people all the time.
Sandra Matthews and Gisbon next, welcome back to the country.
(09:36):
Just getting ourselves sordid here zz Top Apparently they've added,
according to Michelle, a christ Church show to their can
New Zealand Taurum. I'm just wondering whether zz top might
be passed their best by now. We'll ponder that one
a week bit later in the hour. But someone who's
right on top of a game is the National President
of Rural Women in z Gisbine Farmer Sandra Matthews And Sandra,
(09:59):
I see there's a heavy rain warning for the east
coast Gisbone, Wirah Hawks Bay, Hawk's Bay or welcome it.
Do you guys need it?
Speaker 4 (10:08):
Yeah, Hi, Jamie. There's a southeasterly that's floating around us
at the moment, and overnight we had about twenty mils
where I'm based fifty kilometers northwestern Gisbon, and it's just
swirling around. So it's been raining heavily all morning. I'm
sitting nicely in my home in the dry and the
ends out there working doing some fencing repairs.
Speaker 2 (10:26):
Well that's the way, that's the way it should be. Look,
we know that the North Island, particularly the western side
of it and the northern part of it's very very dry.
I'm hoping they're getting some spill over from this rain event.
I'm not quite sure if they are. Texas on five
O nine. If you're in a drought area in the
North Island, let us know how you're getting on at
(10:46):
your place and where you're from. But it just creates
mental health issues. And I know that rural women and
z have been doing a lot of good work in
that space.
Speaker 5 (10:57):
Yeah, we have.
Speaker 4 (10:57):
And I also have just actually been down to Tasman
area and driven through through to merchants and ringing or
in christ Church last week when I've been working through
all women people down around there, and there are pockets
of very very dry areas, which is really concerning. We
are we're talking around with Minister Doocy and Mark Patterson.
(11:19):
Minister Patterson just around ensuring that we do have adequate
services in our real communities and making sure, I mean,
our stats are really bad and we're making sure that
we're really pushing for support into royal communities to make
sure that we have that support. So it's an ongoing
discussion and it's not a win overnight because obviously we
understand in the health services that really that we are
(11:42):
up against a lack of numbers and nurses and psychologists
all those sort of things. But we are doing the
best that we can, talking to as many people as
we can. There is concerns obviously out around with the
decorations right around the North Island and down into Marlboro
and Tasman. The one thing I will say, after going
through many direct droughts in our tyrietity area is that
(12:04):
this actually brings a bit of support to people. The
income Equalization scheme which has actually helped us get through
droughts and talking to your accountant those sort of things
and be proactive. That's the one thing that experiencing many
droughts since we've been farming here for thirty odd years,
is that be proactive, decide what stock you can get
rid of, unload them wherever you can, and make early decisions.
(12:27):
So that's what we're sort of talking to people about.
And obviously the RST support's been stepped up, so there's
RST support as well. So yeah, we're just trying to
support as much as we can and we'll step in
and help where we can over the next few months
while people are going through these meeting scale droughts.
Speaker 2 (12:42):
Yeah, don't be afraid to ask for help. And the
Rural Support Trusts, as you mentioned, are doing great work there.
You're also on the warpath or not on the warpath.
But one of the hot issues at the moment is
the rural school buses.
Speaker 4 (12:54):
Yeah, we've had a meeting with Minister Stanford and Minnester
Patterson as well, talking around the school bus is year
because right around the country there are changes to school
buses and really what they're doing is putting back in
place the policy that's been in place for way too long.
So our discussions have been around okay, we would really
like a review of that policy and work with the
(13:16):
Ministry and the Minister's office and MZTA and other parties
like Federative Farmers. Let's get around the table and try
and work this issue through. Because even and where I
live at really our house is three point two kilometers
from the local school, which is on a you know,
it's on a bit of a rough road and the
school sorry three point one kilometers and the buses pick
(13:37):
up at three point two. So you know, this policy
has been in for a long time, and we're actually
calling for a review of the policy so that a
bit of fairness can go into this. Hey, Andre, there's
a lot of places that have gone into Pine Tree.
So our demographics and our real communities are changing.
Speaker 2 (13:53):
You might have to do what my father was very
tempted to do back in the day when there was
a boarding school allowance, just change the driveway. He was
going to bulldoze a new driveway so we would fit
the criteria for a subsidy for boarding school.
Speaker 4 (14:07):
Yeah, and I think a few people have done that
over the years, Jamie. Yeah, we've got a few big
oat trees that we can't do that, even though we
haven't got children at school anymore. But I mean, the
thing is that there's also on the flip side of that,
there's also people bypassing their local school and one of
the buses to take them to other schools.
Speaker 5 (14:23):
So there's a lot involved.
Speaker 4 (14:24):
In this over the last few generations, and it's trying
to get some common sense around us, and that's what.
Speaker 2 (14:28):
We'll be talking about Okay, one to really quickly finish
on awkward subject. Hormone patches, blogs, scatter easy. We don't
have to have hormone patches or cervical smears or mammograms,
so you know this is woman's problems. Just be quick
on this one because I feel uncomfortable.
Speaker 4 (14:45):
Yeah, it's not really a woman's problem, if you know,
it's we all know that if you live with at
menopause a woman or verymenopause a woman, it's everybody's problem.
So it's helping to understand what that's all about and
how it affects a woman as she gets older. And
we've been submitting on hormone patches and the actual medications
(15:07):
that help women all in my.
Speaker 5 (15:09):
Case a little bit less.
Speaker 4 (15:10):
Crazy, let's probably Ian would say, and the patches and
the gels and the things that we're asking the government
to fund that actually helps women to actually sleep and
have a better quality of life as they're going through
those stages of life. So we've been working hard on
that and gain some traction. The government's come out with
a few different options, so we're fairly happy about how
(15:32):
that's going at the moment, and we're making sure that
men like yourself, Jamie, feel more comfortable about talking about
senapaus imperimnimal.
Speaker 2 (15:40):
Wow. I'm a bloke and I'm a boomer, so I
struck the double. You can't get any luckier than that. Hey,
Sandra Matthews, thank you for your time. Keep up the
good work at Rural Women in z Thanks Jamie. There
we go, Sandra and Gisbone, Smiley, Barrett and Taraaniki tomorrow.
I wonder how he's getting on there. Incredibly dry, they're
(16:00):
at the moment. Up next Peter Newbold and Monthly, look
at the state of the rural market. And what about
the pine trees. It kind of is the elephant in
the room. We'll have a look at that one as well.
The rural market being driven right at the moment by
the good dairy returns. Today's big story is Fonterra's excellent
half year result. And the other one, if you haven't
caught up on it, we are out of recession. GDP
(16:23):
rows zero point seven percent in the December twenty four quarter,
So good news, I think. Up next to Peter Newbolt
Monthly here on the Country we take a look at
(16:44):
the state of the rural real estate market with the
team from PGG Rights and the bloke running the show
as Peter Newbold, Peter renewed interest in farming as an investment.
I guess a lot of this is being driven off
the good returns for dairy farming.
Speaker 6 (17:00):
Oh yeah, Jamie. The dairy is I think the catalyst,
and if you look back over time, it always has been.
So what happens the areas they are in good shape,
They then look at I guess, expanding their property portfolios,
which helps set market prices and that stimulates others. So
what we're seeing is through that they've been purchasing other properties,
(17:21):
which has stimulated that whole market. And so we're now
seeing a lot more activity in the sheep and beef
and even down through to those smaller, you know, sub
hundred sub ten hectier properties. But definitely, I think that's
the catalyst, and you know, things look good if you
look out over the next twelve to eighty months, it
(17:41):
looks pretty solid. Yeah.
Speaker 2 (17:43):
Indeed, that Rabo Farmer Confidence survey we talked about on
yesterday's show driven by sheep and beef farmers. So I'm
putting strong wall to one side again because it is
the troubled child if you want, of the primary sector,
but sheep and beefer standalone is positive at the moment.
Speaker 6 (18:02):
Yeah, look, it's really good and I think you're seeing
getting good pricing for their sheep and cattle. And again
that's if you look out, that's looking good going right
through into next season. So that's given them confidence. I
think you've seen inflation under control. You're seeing more activities
and sales taking place and interesting other weeks at the
(18:22):
Wantaker Show, which is one of the best events in town,
and speaking to speaking to farmers and clients there, you
generally get a feeling that things are a lot better
and they can see light at the end of the tunnel,
and so yeah, I think we're going to see more
activity and that'll help because everyone will be in a
(18:43):
better space too financially.
Speaker 2 (18:45):
Let's have a look at horticulture. I would have thought
Kiwi fruit would be a good bet at the moment.
Speaker 6 (18:51):
Yeah, look, it is. You know, you've often asked me
that question and it's been sort of it are just
sort of meandering along. But talking to my team, we
definitely feel that there's a new cycle coming through and
we're starting to see, you know, really over the last
month or so, some renewed activity and interest in that,
(19:11):
and I think we're going to see that market move forward,
like I guess what's happened in dairy and sheep and
beef over the coming season. So that's really good because
it's been in a bit of a bit of a
holding block at the moment. But definitely there's signs and
we're seeing activity. So that's again, you know, you look
at that cheat and beef, dairy, hought, everything's looking pretty
(19:33):
good at the moment.
Speaker 2 (19:35):
Prices haven't really gone up, or as far as I
can see, they haven't gone up across the board. Our
land prices have been pretty static. Is there just more
realism in the market now?
Speaker 6 (19:45):
Yeah. I think what's happening is, you know, those that
are purchasing are stuit and so we're seeing actually, I
think properties you know, meeting the market as such. So
we're seeing a lot of I guess called it stock
being cleaneder, but yeah, we're not seeing a lot of
increases there. Of course, there's the odd property that comes
to market which is one of those unique price places
(20:07):
and they may get a premium, but in general terms,
we're seeing not a lot of movement there. The only
thing that sometimes does affect that if it's going to trees,
and then you'll see there's often a premium paid there.
But in general terms, to answer your question, no, I
think values are staying fairly, fairly stable at this point
in time.
Speaker 2 (20:28):
Well, let's finish by addressing the elephant in the room.
And you've mentioned it trees, namely pine trees being planted
on good arable and grazing country. It's still happening, Peter Newbold.
Speaker 6 (20:40):
Yeah, look it is, and I think it needs to
be managed better. And I know that coming up towards
I think it's the end of the year, the rules
change and you know classes of land which will come in,
and I think that's a good thing. I still you know,
there's a place for trees, but we don't want trees
on good, good country which produces good stock. So I
(21:03):
think there needs to be a balance there. And that's
look like, that is looking like what is going to
take place. And I think that's good for everybody, to
be brutally honest, But that's my opinion. Not everyone will
agree with me there.
Speaker 2 (21:15):
Well, there's plenty of places to plant pine trees, but
north facing good grazing country or arable farmland. No blanket planting. No,
it's not my opinion. I'm steadfast on that one anyhow.
Some people will disagree with the pair of us. But
it's good to catch up here on a monthly basis,
Peter Newbold, and good to see the rural market looking positive.
Speaker 6 (21:37):
Yeah, thanks Jamie, and look at it. I think it's
just it's going to help the whole of New Zealand
if rural continues the word it is, so I think
that's just fantastic.
Speaker 2 (21:48):
Indeed, thank you, Peter. Yes, agriculture of the primary sector
is dragging or has dragged New Zealand out of recession.
Lots of texts coming in about the weather North Hyji,
north of Kaitai. Here still very very dry. No rain, Taranaki,
no rain up here on the Curry Curry Peninsula which
is up north way up north. Yes, so Northland Taranaki
(22:12):
is still very very dry. Here's another text, Oh my god,
refreshing that you can talk about women. News recently mentioned
pregnant people a few days ago. Yeah, I mean that's
just woke, ridiculous nonsense. It's pregnant women, not pregnant people. Anyhow, Umm,
I can't read that one. Can I read this one?
(22:34):
From Rocks? Just give me She's saying no, but he's
coming on. A wee bit later in the show, he said,
when the woman you love turns into a homicide or
maniac from forty five, it's a real world issue. Now
I've met his lovely wife, the long suffering Mary, and
if I was married to Rooks, I think I'd be
a homicidal maniac as well. We'll get him to defend
(22:56):
himself a wee bit later in the hour, but up
next to Michelle's in with rural news, we'll have a
look at sports news for you. Our favorite athlete joint
favorite athlete in New Zealand at the moment, Sam Ruth,
first fifteen year old to break four minutes for the mile.
We might touch briefly on that one. I will have
sports news for you as well, Chris Russell, Jeremy Rooks.
Before the end of the hour, Welcome back to the country.
(23:28):
Twenty two away from one. Here's the latest and rural
news with Michelle.
Speaker 1 (23:34):
The country's world news with Coup Cadet, New Zealand's leading
right on Lawnbower brand visit steel Ford Dot co dot
Nz for your local stockist and I.
Speaker 7 (23:43):
Know we touched on this earlier, but Hawks Bay Emergency
Management is on alert for as a forecast downpour hits
the region. Met Service has issued a heavy rain warning
for the y Roha District from nine am on Thursday
until midnight, were seventy to one hundred and ten millimeters
of rain expected to it is fourcase forecasting peak rates
of ten to twenty millimeters an hour. Warns of rapidly
(24:05):
rising waterways and flooding on the roads. The region's Civil
Defense says it's keeping an eye on the situation and
ask residents to follow the Wairoa District Council's Facebook page
for local updates and the Balance Farm Award. Regional awards
continue around the country. Last night it was Northland's turn
to celebrate the top regional farming Talent, announcing Rob and
Mandy Pie of Mangoe Falls Farm and Cocopo Fuga Day
(24:28):
as the Northern Northland Region Supreme Winners. They will be
considered for the Gordon Stevenson Memorial Trophy. The Trust National
Showcase in Wellington and in June, and the next one
is in Auckland later today.
Speaker 1 (24:42):
Sport with AFCO. Visit them online at a FCO dot
co dot Nz.
Speaker 2 (24:47):
Uncertainty Slimmy turns Ezy Top down a week but uncertainty
surrounds Blues captain Patrick Tilley Palotu's availability for Saturday Super
Rugby Pacific Derby against the Crusaders Eden Park. That'll be
a good game. The All blackslock has left this morning's
training in a medical vehicle. Doesn't sound good, does it.
(25:08):
Joseph Park has lip synced to the Shania Twain song
You're Still the One along Kerry Carey Beach. I wonder
if that's the same one that Texter was talking about.
I'm assuming it is.
Speaker 7 (25:18):
I think it might be. It's pretty far north, it's
up right past the light tip.
Speaker 2 (25:21):
Well, if you've seen Joseph lip syncing Shania Twain on
carry Carey Beach. In a bid to lure heavyweight boxing
champion Alexander Usik into a mandatory title defense, reports claim
U six team is already in discussions to meet IBF
beltholder Daniel Dubois instead, and Sam Ruth, our favorite athlete
(25:42):
of the day, has tempered talk of being on the
same level as Sam Tanner after becoming the first fifteen
year old in the world to dip under four minutes
for the mile, and no disrespect to Sam Tanner, who's
our leading miler and fifteen hundred meter runner in the
country at the moment of them shell. She's been looking
up all the stats on this one. This kid is
(26:04):
an out and out freak. He's beaten. What's the name
of the guy, Jacob.
Speaker 7 (26:09):
Jacob Inger Brickson from Norway. So he's a freak of
nature tour and he actually had I think he had
the world record originally for that age group.
Speaker 2 (26:15):
So he went under four minutes as a sixteen year old.
Sam Ruth has done it as a fifteen year old
and I loved him talking to Ryan Bridge this morning.
His reward for that wasn't a night on the booze,
Thank goodness. He went to Burger King.
Speaker 7 (26:29):
I think that was awesome, very wholesome.
Speaker 2 (26:31):
Yeah, okay. Up next to our Ossie correspondent Chris Russell
before the end of the hour, is he married to
a forty five year old homicidal maniac? I don't think so.
Jeremy Rook's our lifestyle and hobby correspondent at a Canterbury.
Speaker 1 (26:53):
Pausie update with Ecolab Solid Range, solid Products, solid Partnership,
Solid Results.
Speaker 2 (27:02):
Thursdays on the Country we hit across the Tasman catch
up with our Ossie based correspondent Chris Russell. Chris, the
ten richest people in Australia are worth two hundred and
fifty billion dollars. Gina Reinhart, the mining magnate, of course,
leads the field. Any farmers in there, well.
Speaker 8 (27:20):
Look, I think Gina righter in her own right you
could call a farmer, but certainly all of them have
farming interests. And I suppose Andrew Forrest who appears in
there as well. She's split with his wife Nicola and
they're both in the top ten now richest list. But
(27:41):
Gina ryan Hart certainly has put a lot of money
into farming, and she has her own brand of beef
that's sold in China, and she's top of the list
with around forty five billion as her claim to fame.
And then if you look at people like Cliff Palmer's
Palmer he's there with twenty two billion, Andrew Forrest fifteen billion,
(28:05):
and all of them have got interests in farming around Australia.
Gina Ryan Hart of course owns Rossy Boots, Twiggy Forests,
own Rim Williams. They're all now being turned into real
boutiqui brands, and so it's certainly a list of people
who don't have to worry or neither the next fourteen
generations of them have to worry about where the next
(28:25):
dollar is coming from.
Speaker 2 (28:26):
Well, selling those Ram Williams boots as good as they
are for seven or eight one hundred bucks, you'll get
rich pretty quick, i'd imagine. All right, talk to me
about the idea of diverting some of your US beef
to China. One spit and twice shire, is it?
Speaker 8 (28:43):
Yes, So this license system that they have in China,
we should automatically, we knew for shipping an abatise shipping
their meat in. Quite predictably, the Chinese have not automatically
renewed the most of the American licenses, and they all
from last month they all started to lapse, and so
(29:05):
the pork one has been renewed, interestingly, but the beef
one has not. So they're very much opportunistic about what
they ban and what they don't ban. But of course
Australian exporters were saying, well, we'll be that's great. We'll
send our grain fed meat over to China now and
we'll take up the gap. But there is some caution,
very wisely, because any decision to shift and divert beef
(29:27):
we're currently selling elsewhere into China is fairly short sighted.
Number one is the approvals could be granted next week
if it doesn't see China. And number two is we've
fallen into that trap before when the Einstein say the
definition of insanity is doing the same thing again and
especially yet different result. And in this case, we remember
when China fell over and they were buying seventy percent
(29:49):
of our mees or whatever it was. It just did
I have our wine and our wall. You know, it
just causes grief when they drop it over. So we
have now diversified, we have now sold to the markets.
So I think Australia is going to be very cautious
about jumping in and saying yes, well, you know, we'll
take all the beef we were selling to America or
elsewhere and start sending it to China because we know
(30:10):
it to have fallen into that same trap. But it's
going to change the way beef is sold, and certainly
like once again, it's going to become a tool in
the armory in the little war going on between China
and the US.
Speaker 2 (30:23):
Did you pick up on the story on working cats
being text deductible.
Speaker 8 (30:28):
Yeah, I did, And of course, as you know, no
great love for cats here. I mean, guess the most
tactical deductible thing about having a cat, O would say
would be the twenty two said bullet to get rid
of the bloody thing. But they are effective form of
rodent management on farms, and you can claim working dogs,
(30:49):
you can claim working horses, but you've never been able
to claim working cats. And there are some farmers that
are saying that their cats have saved them in terms
of rats chewing through wiring in their dairies and the
sort of rats and mice running around raiding their supplies
of grain and so on. They're saying that they're really important.
(31:12):
And while they used to use rat poison, they said
it's less effective than cats, expensive, and of course the
rat poison expensive and also unsafe. So they want to
be able to claim for the cats and the costs
of running the cats and the vet costs. So in
the United States and the United Kingdom they allow people
(31:33):
to make deductions for keeping working cats, but they'd have
to change some work rules here, and I would suggest
that the best thing they could do is just not
have any.
Speaker 2 (31:43):
Chris Russell, thanks as always for your time. Next week
we'll have a yarn about duck hunting band and parts
of Victoria due to bird flu. As opening weekend looms,
I think it's in mid April and Australia first Saturday
in May. Here in New Zealand, something to chew over
next week.
Speaker 8 (32:00):
No worries.
Speaker 2 (32:09):
A wrapping of our country. Zz Top have added a
christ Church show to their New Zealand tour. I wonder
whether our next guest or wander along to that. Jeremy
Rock's a lifestyle and hobby farmer correspondent. Just before we
get Jeremy on board, got a text in from Grant
Weller a golf made of mine from Riversdale. Grant and
his wife Bernie won their Balanced Farm Environment Awards in
(32:33):
twenty eleven, the first farming couple to outright win the awards,
and they beat Stephen Jane win Harrison. When Harris has
never forgiven Grant for that, but Grant says, another farm
down here, he farms on the hockinuy Hills in Southland
has just been signed up for trees. Another fifteen thousand
ewes gone blanket planting. This is a tragedy and our
(32:56):
next guest knows a wee bit about it because he
sold his farm in hawk Spay to trees, Jeremy Rooks.
So when will we see an end to this? Because
this isn't good, the blanket planting I'm talking about.
Speaker 5 (33:09):
I can't really see an end to it because things
are changing as well. As I mentioned last time I
was on about, they're now sort of buying the foreigners
are buying existing forests that have just been planted to
buy a pass a few the OIO rigs. So I
can't see it. And with government policy around this climate
change nonsense which national are fully invested in, it won't stop.
Speaker 2 (33:31):
Do you think the new rules that are due to
come and place into place, I think at the end
of the year or early next year to prevent blanket planting,
especially on good class land because some of this land
is Class four, five and six. As I understand it.
Speaker 5 (33:50):
Well, it will just be done differently, I'd imagine. Basically,
I mean, there's always a way around things. Isn't it so?
And people are worked that out of for pcuniary advantage Jamie, mind.
Speaker 2 (34:00):
You, Jeremy. As we saw yesterday with the Rabobank Farmer
Confidence survey, it's being led now by restored confidence for
sheep and beef farmers. You're getting record beef prices. Lamb
is good. It should be ten bucks, but it's eight
bucks or better. And muttons are returned, so sheep farming
is no longer the poor relation of dairy farming, although
(34:23):
the returns probably aren't as good obviously.
Speaker 5 (34:26):
Oh, I wouldn't say that. The cost structure is pretty high,
and I mean it has to be at the minimum
where it is now. But the beef jobs looking great.
Cartiles are going gangbusters, so there is a bit of optimism,
and particularly in Canterbury because we've had another two inches
of rain down here. So North Canterbury is a picture
which is you know, those sort of things help lift
(34:46):
morale as well, you know, like when guys have got
grass at least you feel like you're in control a
bit more so. Yeah, I don't know. I hear there
are ten dollars land contracts out for later in the winter,
but I'm not sure, who's propped them out?
Speaker 2 (34:58):
Okay, well, let's just you've got We've got enough time.
I've got a couple of minutes left for you to
get one issue off your chest. Now, be careful, this
is live. Don't get me sued.
Speaker 5 (35:10):
Well, I don't need to come who get your sued.
But and I just think that, as we said off
or this morning, is that I just think it's all
very well for the national government, and which is great.
They're out there trying to get a deal with India
and you know, trades the key as Fonterra's results showed today,
and beef showing at the moment and land to a point.
But meanwhile in this country, like Rome's burning internally at
(35:33):
the moment. I just think that, you know, there's a
real division going on. And everyone I've spoken to in
the last couple of three months, regardless of whether it's
been the roofers here or the builders and whatever, everyone's
feeling it. And everyone's really uncomfortable to sort of deal
with it. And and the bureaucracy as well. It's just
just doesn't change regardless of who's in power, and so
all of this, you know, they're completely ignoring any common
(35:55):
sense that, I mean, everything behind the scenes is still
the same as it was under labor and I think
run sick to death of it. So I just don't
know what's going to happen here, Jamie, because the way
we go where we're going to be in a bit
of trouble in a few years as a society.
Speaker 2 (36:09):
Well yeah, I believe we are becoming more divided as
a society and it's driven by driven by some activists
in my mind, but mind you, my mind mightn't be
what everyone else is thinking. Jeremy Rook's there. You never
die wondering what he's thinking. That wraps the Country for today.
We'll catch you back tomorrow. Thanks for listening. We do
appreciate it.
Speaker 1 (36:33):
Catch you're the latest from the land. It's the Country
Podcast with Jamie McGue. Thanks to Brent, You're specialist in
John Deere machinery.
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