March 9, 2026 • 8 mins
Chair of Open Country Laurie Margrain says why he thinks the dairy sector is in a good space.
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Speaker 1 (00:08):
Welcome back to the muster, Larry Margray and his chair
of Open Country. We catch up with the team on
a regular basis. Murray, good afternoon. It is autumn down
here in the deep South up where you were based
up north. How's the season been pretty good?
Speaker 2 (00:22):
And you thank you? Yeah, welcome and nice to hear
from you. No, been a good year. I mean across
the country. I mean, I know south of Otaga is
no exception. There are sort of geographic pockets which are different.
But the milk flow has been strong. It's been consistent,
and it's hanging on very well into autumn, early autumn,
(00:43):
in the beginning or winter in a few months. I
guess people are getting many cuts. Bead stops are high,
milk supply is still good, and the price is not
disappointing people.
Speaker 1 (00:54):
Yeah, the price, will talk about that surely. But as
far as the milk supply compared to say this time
twelve months ago, Larry, where would you say it's that?
Speaker 2 (01:01):
Oh, run a few percent. I mean I always I'm
always reluctant Andy to compare milk flows to prior years,
because you could have you have periods of a prior
year which are particularly bad or disappointing, and then you
compare a reasonable average year to that and it looks
like it flows really up. I would say milk flows
are where you would expect within reason with the herd
(01:25):
numbers we've got, the production per animal we've got and
the grass conditions we've been getting, so we're not unhappy.
I think farmers really good at net nets as a
better than average.
Speaker 1 (01:36):
Year, we're saying good conditions for growing grass predominantly and
a lot of the province at the moment, Laurie, what's
it been like at North?
Speaker 2 (01:45):
Yeah, pretty good? Any pretty good white cat o by
have plenty king country, et cetera. We don't go to
North and obviously Taranaki meno or two you're pretty good.
I mean again, there are there are differences. I mean,
one of the weird things we get with these weather
patternsy is are you can get pretty healthy, even substantial
rains in one area and then ten k down the
(02:07):
road you're getting richer nothing. But consistently it's been good.
I mean everybody. I think when you talk to farmers,
how are things the answer usually begins with the word too.
It's too warm, it's too wet, it's too dry, it's
too windy, it's always to something. But net when you
lean across the farm fence, I think the farmers are
(02:27):
pretty happy and the grass grows where we've kind of
hope they'll be at the summer year.
Speaker 1 (02:32):
That's a farming prerogatives though. Lorry, though, is either one
thing or the other. It can't be the middle bowl
of porridge.
Speaker 2 (02:37):
Oh hell no no, because when you when you're when
you're running businesses as farmers do, with so many ponderables
that you can't control. You can never have perfection. You
can never have things exactly how you want to have them.
Just doesn't work that way. That's why our guys, our farmers,
are so good at what they do, because they know it,
(02:59):
they understand it, and they deal with it.
Speaker 1 (03:01):
Yeah, the Southern Field Days was a few weeks ago now, Laurie.
But from an open country viewpoint, how was it?
Speaker 2 (03:07):
Oh fantastic. I mean the attendance. I don't know what
the official numbers were. Andy to be Frank, I was
there for two days, never left the stand, well, left
the stand once a day out of the bathroom, but
never left the stand, so it didn't get a chance
to do any wandering but people were pouring in and
out of our marquee, our stand constantly. I just it
(03:28):
was a fabulous couple of days. I really, I can't
say enough positive things about it. The atmosphere was good,
people were happy. I mean, you only learn why you're listening.
And when you go to these field days and you
spend the time with the people that make it count
for farmers and you listen, Jesus, you learn a lot,
you hear a lot, and it helps us make better decisions.
(03:51):
It was just a terrific, terrific couple of days.
Speaker 1 (03:53):
Forty two five hundred was the official figure for the
three days.
Speaker 2 (03:57):
Whoa WHOA pretty good first day, I think the Wednesday morning,
I've got that right. The Wednesday morning I attended the
first Wednesday morning, it was pretty bleak, pretty cold, pretty damp,
pretty muddy. By Wednesday afternoon, the sun was out, that
was scorching. Thursday was a scorcher. People were pretty buoyant.
I also also thought they were, if what I heard
(04:20):
was correct, a relicing circumspect about how they're spending, how
they're planning, how they're running their balance sheets, I still note,
which is very encouraging, A very good approach to good
fiscal management. So, in other words, take advantage of the
good times, but don't overextend yourself.
Speaker 1 (04:40):
Was that the thing that seemed to stick out for
you speaking to Supplies Lourie was that they were happy
with the season, but fiscally responsible the space. Yeah.
Speaker 2 (04:48):
Absolutely. I don't know how many good years in a
row you need to have andy before people start to
forget if you like the lessons of the past. But
I don't. I don't feel in that position yet. We've
had some good years in succession. But farmers are being,
for the most part, I think, very pragmatic, very sensible,
(05:09):
very conscious of balance sheets, very conscious of debt. It
seems that the banks are more open for business now
than there were two years ago. But debt is debt,
and you know, debt, as we all know, can often
be called in when you least expect it or when
you least want to pay it. So I think I
think there's a high degree of pragmatism, very very encouraged.
(05:32):
I think it's a healthy sign for our industry.
Speaker 1 (05:35):
Well, you just need to look at the GDT results
this year to date, after what was at nine consecutive falls.
Is it about four rises on the trot now and
everything's looking pretty healthy for the sector.
Speaker 2 (05:45):
Yeah, I mean we never we never had our full
year full season, no, but we never had it go
below I think about nine twenty eight, nine thirty, So
we never fell as low as nine dollars as some
others did. We we didn't see it as a long
to them trend and we've been proven right. We're not
always right, obviously, but we've a proven right this year.
Speaker 1 (06:07):
I think.
Speaker 2 (06:09):
Hard to say at this point. I mean, a lot
of things happened in the world and he aren't there,
but you'd say, right now, there's as much chance, there's
probably a better chance to have been a little bit
higher than nine point fifty for the year. There's more
chance of that, and it is been lower than nine
point fifty.
Speaker 1 (06:25):
Regarding the situation overseas, Lourie, what does that do for
New Zealand as an exporting nation.
Speaker 2 (06:32):
Well, it's a cost issue. Obviously, freight costs will go up.
The search yards are starting to flow through now. The
the reality is it will take longer to get some
goods to some markets, which slows down the payment schedule
or regime if you like. So it pushes up working
capital for processes not an issue for us. We've always
(06:56):
run such a conservative belot sheet. We've always planned for
this sort of stuff. Who plan for these contingencies and
we won't bat an eyelid. But for the industry, it
slows down the process of goods getting the market, slows
down the return of capital to the general or funds
to working capitals in zil and cause a lot more
(07:16):
logistical headaches. But touch Woods, so far as you would expect,
is what we're paid to do. We're coping.
Speaker 1 (07:23):
So you think we'll be able to absorb these costs
that we're going to see as a result.
Speaker 2 (07:28):
Well, the answer with anty is your choice. We will
between ourselves, the supply base and the customers all those
costs shared in proportioned somewhere. There are no choices, so
we have to cope with it, and we do.
Speaker 1 (07:45):
Just Finally, Lurie, we know you're a great North Harbor fan.
The Blues doing the business over the Saders that the week.
But you've got the local derby givest Mawana Pacifica. That'll
be a good game, Yeah, it will be.
Speaker 2 (07:56):
I mean, gee, I saw the Crusaders game last week.
I think I've got this right, Andy. We've only beat
the Crusaders twice down the last eleven games.
Speaker 1 (08:07):
Yeah, something ridiculous at Eden Park.
Speaker 2 (08:10):
Litt alone in christ Church. So it was a significant win. Yeah,
I mean it should beat Minor PACIFICA on current form
and I think I don't know what the bookies are saying,
but there'd be a significant level of disappointment in the
Blues camp if they don't. But they got tipped up
by them last year and any team coach by Tana
(08:30):
I wouldn't underestimate. So looking forward to it.
Speaker 1 (08:34):
Larry Margrain, Open Country cheer. Thanks for your time when
the Master is always enjoy the afternoon.
Speaker 2 (08:39):
Pleasure, Andy, Take care.
Speaker 1 (08:42):
Larry Margrain of Open Country, he is cheered. Great to
catch up with the team like we do. You're listening
to the Master up next in studio Graham Butcher
Welcome back to the muster, Larry Margray and his chair
of Open Country. We catch up with the team on
a regular basis. Murray, good afternoon. It is autumn down
here in the deep South up where you were based
up north. How's the season been pretty good?
Speaker 2 (00:22):
And you thank you? Yeah, welcome and nice to hear
from you. No, been a good year. I mean across
the country. I mean, I know south of Otaga is
no exception. There are sort of geographic pockets which are different.
But the milk flow has been strong. It's been consistent,
and it's hanging on very well into autumn, early autumn,
(00:43):
in the beginning or winter in a few months. I
guess people are getting many cuts. Bead stops are high,
milk supply is still good, and the price is not
disappointing people.
Speaker 1 (00:54):
Yeah, the price, will talk about that surely. But as
far as the milk supply compared to say this time
twelve months ago, Larry, where would you say it's that?
Speaker 2 (01:01):
Oh, run a few percent. I mean I always I'm
always reluctant Andy to compare milk flows to prior years,
because you could have you have periods of a prior
year which are particularly bad or disappointing, and then you
compare a reasonable average year to that and it looks
like it flows really up. I would say milk flows
are where you would expect within reason with the herd
(01:25):
numbers we've got, the production per animal we've got and
the grass conditions we've been getting, so we're not unhappy.
I think farmers really good at net nets as a
better than average.
Speaker 1 (01:36):
Year, we're saying good conditions for growing grass predominantly and
a lot of the province at the moment, Laurie, what's
it been like at North?
Speaker 2 (01:45):
Yeah, pretty good? Any pretty good white cat o by
have plenty king country, et cetera. We don't go to
North and obviously Taranaki meno or two you're pretty good.
I mean again, there are there are differences. I mean,
one of the weird things we get with these weather
patternsy is are you can get pretty healthy, even substantial
rains in one area and then ten k down the
(02:07):
road you're getting richer nothing. But consistently it's been good.
I mean everybody. I think when you talk to farmers,
how are things the answer usually begins with the word too.
It's too warm, it's too wet, it's too dry, it's
too windy, it's always to something. But net when you
lean across the farm fence, I think the farmers are
(02:27):
pretty happy and the grass grows where we've kind of
hope they'll be at the summer year.
Speaker 1 (02:32):
That's a farming prerogatives though. Lorry, though, is either one
thing or the other. It can't be the middle bowl
of porridge.
Speaker 2 (02:37):
Oh hell no no, because when you when you're when
you're running businesses as farmers do, with so many ponderables
that you can't control. You can never have perfection. You
can never have things exactly how you want to have them.
Just doesn't work that way. That's why our guys, our farmers,
are so good at what they do, because they know it,
(02:59):
they understand it, and they deal with it.
Speaker 1 (03:01):
Yeah, the Southern Field Days was a few weeks ago now, Laurie.
But from an open country viewpoint, how was it?
Speaker 2 (03:07):
Oh fantastic. I mean the attendance. I don't know what
the official numbers were. Andy to be Frank, I was
there for two days, never left the stand, well, left
the stand once a day out of the bathroom, but
never left the stand, so it didn't get a chance
to do any wandering but people were pouring in and
out of our marquee, our stand constantly. I just it
(03:28):
was a fabulous couple of days. I really, I can't
say enough positive things about it. The atmosphere was good,
people were happy. I mean, you only learn why you're listening.
And when you go to these field days and you
spend the time with the people that make it count
for farmers and you listen, Jesus, you learn a lot,
you hear a lot, and it helps us make better decisions.
(03:51):
It was just a terrific, terrific couple of days.
Speaker 1 (03:53):
Forty two five hundred was the official figure for the
three days.
Speaker 2 (03:57):
Whoa WHOA pretty good first day, I think the Wednesday morning,
I've got that right. The Wednesday morning I attended the
first Wednesday morning, it was pretty bleak, pretty cold, pretty damp,
pretty muddy. By Wednesday afternoon, the sun was out, that
was scorching. Thursday was a scorcher. People were pretty buoyant.
I also also thought they were, if what I heard
(04:20):
was correct, a relicing circumspect about how they're spending, how
they're planning, how they're running their balance sheets, I still note,
which is very encouraging, A very good approach to good
fiscal management. So, in other words, take advantage of the
good times, but don't overextend yourself.
Speaker 1 (04:40):
Was that the thing that seemed to stick out for
you speaking to Supplies Lourie was that they were happy
with the season, but fiscally responsible the space. Yeah.
Speaker 2 (04:48):
Absolutely. I don't know how many good years in a
row you need to have andy before people start to
forget if you like the lessons of the past. But
I don't. I don't feel in that position yet. We've
had some good years in succession. But farmers are being,
for the most part, I think, very pragmatic, very sensible,
(05:09):
very conscious of balance sheets, very conscious of debt. It
seems that the banks are more open for business now
than there were two years ago. But debt is debt,
and you know, debt, as we all know, can often
be called in when you least expect it or when
you least want to pay it. So I think I
think there's a high degree of pragmatism, very very encouraged.
(05:32):
I think it's a healthy sign for our industry.
Speaker 1 (05:35):
Well, you just need to look at the GDT results
this year to date, after what was at nine consecutive falls.
Is it about four rises on the trot now and
everything's looking pretty healthy for the sector.
Speaker 2 (05:45):
Yeah, I mean we never we never had our full
year full season, no, but we never had it go
below I think about nine twenty eight, nine thirty, So
we never fell as low as nine dollars as some
others did. We we didn't see it as a long
to them trend and we've been proven right. We're not
always right, obviously, but we've a proven right this year.
Speaker 1 (06:07):
I think.
Speaker 2 (06:09):
Hard to say at this point. I mean, a lot
of things happened in the world and he aren't there,
but you'd say, right now, there's as much chance, there's
probably a better chance to have been a little bit
higher than nine point fifty for the year. There's more
chance of that, and it is been lower than nine
point fifty.
Speaker 1 (06:25):
Regarding the situation overseas, Lourie, what does that do for
New Zealand as an exporting nation.
Speaker 2 (06:32):
Well, it's a cost issue. Obviously, freight costs will go up.
The search yards are starting to flow through now. The
the reality is it will take longer to get some
goods to some markets, which slows down the payment schedule
or regime if you like. So it pushes up working
capital for processes not an issue for us. We've always
(06:56):
run such a conservative belot sheet. We've always planned for
this sort of stuff. Who plan for these contingencies and
we won't bat an eyelid. But for the industry, it
slows down the process of goods getting the market, slows
down the return of capital to the general or funds
to working capitals in zil and cause a lot more
(07:16):
logistical headaches. But touch Woods, so far as you would expect,
is what we're paid to do. We're coping.
Speaker 1 (07:23):
So you think we'll be able to absorb these costs
that we're going to see as a result.
Speaker 2 (07:28):
Well, the answer with anty is your choice. We will
between ourselves, the supply base and the customers all those
costs shared in proportioned somewhere. There are no choices, so
we have to cope with it, and we do.
Speaker 1 (07:45):
Just Finally, Lurie, we know you're a great North Harbor fan.
The Blues doing the business over the Saders that the week.
But you've got the local derby givest Mawana Pacifica. That'll
be a good game, Yeah, it will be.
Speaker 2 (07:56):
I mean, gee, I saw the Crusaders game last week.
I think I've got this right, Andy. We've only beat
the Crusaders twice down the last eleven games.
Speaker 1 (08:07):
Yeah, something ridiculous at Eden Park.
Speaker 2 (08:10):
Litt alone in christ Church. So it was a significant win. Yeah,
I mean it should beat Minor PACIFICA on current form
and I think I don't know what the bookies are saying,
but there'd be a significant level of disappointment in the
Blues camp if they don't. But they got tipped up
by them last year and any team coach by Tana
(08:30):
I wouldn't underestimate. So looking forward to it.
Speaker 1 (08:34):
Larry Margrain, Open Country cheer. Thanks for your time when
the Master is always enjoy the afternoon.
Speaker 2 (08:39):
Pleasure, Andy, Take care.
Speaker 1 (08:42):
Larry Margrain of Open Country, he is cheered. Great to
catch up with the team like we do. You're listening
to the Master up next in studio Graham Butcher
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