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- Farm Tender Daily
Farm Tender Daily - All the news from Wednesday, the 5th of June, 2024.
Click here to go to the Farmer Tender website.
By Dwain Duxson
Take note and ingest but…. - In Ag we are surrounded by forecasting. You may have noticed over the last few days Rabobank and ABARES are going head to head to forecast the Winter Grain Crop. They are close on the numbers of Hectares sown but differ on the number of tonnes we can expect.
Others doing forecasting in Ag include any Weather site/guru worth their salt. Banks are always forecasting, and all the Rural Property companies are making predictions. And you only have to look at how the market hangs off the USDA report when it comes out.
It's always difficult forecasting in Ag because they are mostly forecasting on what we call the uncontrollables, like the markets and the weather. But mostly, they are a bloody good guide, and you'd be a fool not to take some notice. I mean, we only have to look at the domestic Hay market (no one does it); buyers and sellers would kill for some kind of idea as to what is produced or what's in storage.
Economists and the like use formulas and ratios to come up with the numbers, and some of these have been reasonably accurate over time. Markets take notice of these outcomes, too. GrainCorps share went up on the back of a favourable forecast by ABARES and Rabo yesterday. But as we have said before, take note and ingest, but don't go making snap decisions on the back of them. There's a bloody long way to go. Do you read much into some of the forecasting that is presented forward? Reply to [email protected]
The Farmers Club headlines - Our 3 topics tomorrow are:
1) We talk about the future of Ag advocacy on the back of yesterday's decision by the VFF. (Free).
2) China has added 10 billion litres of Milk to their industry in the last 4 years. On the back of us selling them Dairy Heifers. Is the trade-off worth it? (Paid).
3) Xero a hero. We talk accounting software and what role it plays in Ag (Paid).
If you enjoy this newsletter, then The Farmers Club is this one but on steroids. Sign up here for free.
New Wool Brand - EchidnaKids - We love promoting Farmer-initiated brands, and here’s a new one developed by one of our Farmer Members. Check out the article here and also go direct to their website here.
Getting ripped off on Farm - I was talking to a Farmer at Mathoura in NSW this morning, and he said he had been duped of what could be a couple of thousands of litres of Diesel from his Farm. They caught the offender at 4 am via an alert from a security camera. These guys might have a solution to a problem that might get worse through this cost of living crisis.
Today's Trends - Sales trends included Tractors, Barley Seed, Aussie White Rams, Seeder Bars, Vetch Hay, Rotary Drain Digger, Lucerne Hay, Seeder Bar Tynes, Canola, and Urea.
End of message
Dwain Duxson
P - 0427 011 900
E - [email protected]
What was listed today.
What was sold today.
