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19 Mar 2024 16:42
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  •   Home > News > Rural

    A weaker New Zealand dollar is a boon for farmers

    A weaker New Zealand dollar is a boon for farmers, offsetting recent drops in Fonterra's dairy payout


    Fonterra
    Fonterra
    ASB Rural Economist Nathan Penny says dairy production's also likely to be up over the season.

    Exporters have benefited from a fall in the dollar - from 74 US cents to 65 - this year.

    Penny says that'll make up for slightly lower dairy price - but things are still looking fine.

    He says they've forecast the payout will be six-dollars 50, which will mean the majority of farmers are still making money.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
     13 Mar: Sheep and beef farmers are looking down the barrel of their worst year in 15 years
     07 Mar: Sheep and goat milk farmers are being left with few options as the sector grinds to a halt
     21 Feb: Dairy prices are up 0.5 percent at the latest Global Dairy Trade auction overnight
     12 Feb: Relief for dairy farmers as Fonterra increases its forecast Farmgate Milk Price - after a shaky end to last year
     07 Feb: Fonterra is still assessing whether rising global prices will push up its Farmgate Milk forecast
     07 Feb: Good news for dairy farmers at the latest Global Dairy Trade auction overnight
     17 Jan: Dairy prices are continuing to rise
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