The Country Full Show: Thursday, July 27, 2023

Westpac senior agri economist, Nathan Penny has slashed his farmgate milk price.

Today on The Country, Jamie Mackay catches up with Westpac senior agri economist Nathan Penny, to find out why he has lowered his farmgate milk price.

On with the show:

Nathan Penny:

Westpac’s rural economist has slashed his farmgate milk price forecast for the 2023-24 season by $1.10 down to $7.80/kg MS. He had been very bullish previously with a near-$9 expectation, but said the main reason for hacking the forecast is ongoing sluggishness in the Chinese economy. Plus, we ask about plunging red meat prices.

Angela Blair:

A South Canterbury farmer has set up a petition calling on the Government to only use wool carpets in its buildings. It comes after the Ministry of Education’s decision to fit out hundreds of rural schools with US-made nylon carpet. The decision caused outrage in rural areas where farmers are struggling to garner good profits off their wool clip.

James Shaw:

We ask the Climate Change Minister if the Government reset of the ETS (with a new floor price of $60/tonne) will stabilise the carbon market. It tanked after settings were tightened in Dec 2022, from $88 to just $33, with no credits traded in the first two auctions of 2023. And if the ideal scenario is eventually a carbon price of zero, where does that leave the carbon farmers currently planting trees?

Chris Russell:

We find our Australian correspondent in Albany WA, where we talk truffle farming, woke cultural regulations killing farming, the Bledisloe Cup and The Ashes.

Listen below: