Beef schedules have eased again this week, around 10 cents for bull & cow, with prime remaining steady. NI lamb is back at $7.00, with SI lamb back at $6.75. On the dairy front, good news and bad news this week for Fonterra farmers, with the forecast payout now $6.30 - $6.60/kgMS, but for those farmers wanting to leave Fonterra, the share price has taken a hit, now trading at $4.20. Hopefully 20th March may see some future plans, and good news for Fonterra going forward that may help increase share value again. On the beef and sheep front, store cattle markets are very quiet at present, with most farmers opting to hold stock until prices improve. The dry weather for most areas is limiting buying power, and it will be interesting to see how all the March run weaner fairs will go, due to the dry conditions heading into Autumn. Store lambs are trading around $3.10 - $3.20kgLW.
Have a great week from the MLR team.