Tridge summary
The USDA GAIN report highlights the challenges facing New Zealand's sheep and beef farmers due to rising inflation and low farm gate prices. According to Beef+Lamb New Zealand (BLNZ), on-farm inflation has significantly impacted profitability, with farm input prices increasing by 30.8% over the last five years. While interest rate increases have been a major factor in recent years, the next biggest contributor is expected to be an 11% rise in insurance premiums in Q1 2024, attributed to Cyclone Gabrielle in 2023.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
On-farm inflation in costs and low farm gate prices in New Zealand are putting pressure on sheep and beef farm margins and profitability, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report. Industry organization Beef+Lamb (BLNZ) recently reported that farm inflation continues to rise, albeit slower than the outgoing year. On-farm inflation has been significant for sheep and beef farmers in recent seasons and detrimental to farm profitability. Prices for farm inputs increased 30.8% over the last five years. In 2023, interest rate increases had the biggest effect on on-farm inflation for all farming ...
Source: The Cattle Site
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