March 21, 2025 • 40 mins
Jamie Mackay talks to Damien O'Connor, Matt Chisholm, Dr Jacqueline Rowarth, Bruce Weir, Andy Borland, and Miles Hurrell.
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Speaker 1 (00:00):
The best of the country with Rabobank.
Speaker 2 (00:02):
Choose the bank with one hundred and twenty years global
agribusiness experience.
Speaker 1 (00:06):
Grow with Rabobank.
Speaker 3 (00:19):
Please gadda and good morning New Zealand. My name's Jamie McKay.
This is the best of the country, brought to you
each and every Saturday morning here on News Talks, edb
by Rabobank. We're growing a better New Zealand together. Just
felt like a wee bit of Kate Bush this morning.
(00:40):
The reclusive Kate Bush. What a great artist she was.
Damian O'Connor is kicking off the show. Did Labor drop
the trade ball in India? Earlier in the week, I
caught up with Labour's trade spokesperson, former Minister of Agriculture
and asked him to defend himself matchism rural mental health
advocate you've seen I'm on the tally a bit central
(01:01):
Otago hobby farmer who's taken up walking and studying. Will
tell you why. Doctor Jack Willn Rowe is one of
my favorites here on the country. Locavore March. Can we
rarely suffer through thirty one days of eating only food
grown within a one hundred and fifty kilometer radius bruce
Ware from Rabobank on the bank's latest farmer confidence survey.
(01:24):
The numbers are good. Andy Borland, managing director of Scales Corp,
one of our biggest apple exporters, on a Lincoln College
Rugby reunion and getting apples into India. Miles Hurrel wraps
the show, chief executive of Fonterra, who said on Thursday's
show he's bloody proud of the co op's excellent half
(01:44):
year result with an increased net profit and increased interim dividend.
Fonterra going great guns at the moment. It's all on
the best of the country. It's brought to you by Rabobank.
Speaker 2 (02:01):
The best of the country with Rabobank. Choose the bank
with a huge network of progressive farming clients.
Speaker 1 (02:07):
Rabobank.
Speaker 3 (02:08):
Damian O'Connor as Labour's trade spokesperson, former Minister of Agriculture.
Of course. Now, Damien, I know you didn't hear Todd McLay,
but he actually said some nice things about you as
a former trade minister. Are you going to reciprocate and
say nice things about him?
Speaker 4 (02:25):
Here?
Speaker 5 (02:25):
I have to congratulate him. You know, the energy and
the trips and the effeties made into India, and you know,
getting the UAE and the GCC thing deals over the line.
That's that's great, and I have a compliment on that's
good for all of our economy and for our country.
Speaker 3 (02:42):
He's made five trips to India. I'm not sure how
many you made, but Winston's been on a plane constantly
also as a Foreign Affairs minister, and I never left
the country.
Speaker 5 (02:54):
No, that's completely untrue. And I did make trips. I
don't know whether you've forgotten that COVID Jamie of interrupted
a couple of years of travel and meetings with people
around the world. I made three trips to India, and
David Parker Winston had made them to Naima Huta had
made them, and of course we hosted the Indian Foreign Minister.
(03:16):
Prime Minister Adurn met with primes to Mody. Chris Hopkins
met with Mody too, So we were working on those
relationships and partnerships. And it's great that it's coming to
fruition and we're making progress here.
Speaker 3 (03:29):
But didn't you just end up sort of dropping the
ball and saying India is just in the too heart
a basket.
Speaker 5 (03:35):
No, I think there was a comment from the Nayama
who to say it wasn't a priority at the time,
because India had given a clear indication to us that
a free trade agreement at that time wasn't a priority
or something they were prepared to consider. But they did
want to continue to build the relationships. And indeed that's
what has happened between Indian people, New Zealanders, cricketers, everyone
(03:56):
has been building a strong relationship. And in goodluck to
the negotiators on this comprehensive trade agreement. And I have
said that you know, there is our biggest industry. We
do need to have it included in there. Although it's
going to be a challenge.
Speaker 3 (04:11):
The reality of it is dairy may not be a
big part of the steal. It doesn't need to be
a big part of the steel. There's plenty of other
countries around the world. We can send our dairy products too.
India is the largest producer of dairy in the world
and getting bigger. Surely we just forget about dairy and
let's concentrate on stuff that's going to be good for
a slam horticulture.
Speaker 5 (04:32):
Well, we don't have enough lamb to fill the market
opportunities now, you know, so you could look at we
have to keep the doors open for every exporter. It's
opening opportunities. It's up to them whether they take them up.
I mean, we might get zero tariff on lamb and
yet it still might be hard work to get a
better price than some of the other markets. And the
exporters will choose whether they go to India or China
(04:54):
or US or EU. You know, these are opportunities, they
are guaranteed outcomes.
Speaker 3 (05:02):
The Aussies have got zero tariff on lamb. We need
to be following in their footsteps, surely.
Speaker 4 (05:08):
Well we do.
Speaker 5 (05:08):
I think you have to talk to the exporters who
are putting lamb into India and see how well it's
going for them. I don't know what the market price is.
There is a lot of There are a lot of
wealthy people in India and whether they're able to target
them accurately and get that return back to the farmers.
I haven't seen the returns for Ossie farmers from that
trade deal.
Speaker 3 (05:29):
Aman, you and I enjoy a bit of a banter
and a bit of a scrap on the old radio.
I look forward to it, actually, so do I have
to start being nice to you, just in case Chippy
sleepwalks to victory.
Speaker 5 (05:39):
Look, you know, surprising where you do hear comments that
this might be a one term government, it might be
a coalition makeup, that might be you know what they're doing.
I'm not making a judgment on that other than look
at the polls. Talk to people around the place who
are not happy with a lot of things that are
going on in our country. But in terms of trade
and our efforts in there, you know, I want to
(06:01):
congratulate and support the Prime Minister and the Minister of
Trade and all the delegation. I had taken the biggest
trade delegation prior to this one to India fifty people.
We didn't have a Kapahaker group, which I know have
gone this time. You know, we had some serious players.
We made some good progress.
Speaker 3 (06:19):
Is it a waste of time sending the Mari cultural group?
Speaker 6 (06:23):
Not at all.
Speaker 5 (06:23):
I think building that cultural connection. We had some body
on our trip as well. It is important that you know,
the bicultural nature of our nation is appreciated and it
helps us actually to sell and to tell the story
of New Zealand and its nation to every market around
the world and we have to keep that up.
Speaker 3 (06:45):
Damian. Could you think of a worse scenario than being
in a coalition government with Roweri and Chloe be honest.
Speaker 5 (06:53):
Oh, being in one with David Seymour.
Speaker 3 (06:55):
Well, I mean that's never going to happen. But I
mean Gee to party, Maria to political party, their activists.
Speaker 5 (07:01):
Well, I mean, you know, they have some principles there
around what they're trying to do. I don't agree with
a lot of what they say, but you know, it
depends on how you negotiate. And I think that chrys
Luxon may may be disappointed that he allowed to get
a few too many things across the line. We just
have to make sure when we negotiate that we keep
things sensible, reasonable and pragmatic for our country.
Speaker 3 (07:24):
You think Winston's doing a good job on the world stage,
and I know you're sticking up for your previous foreign minister,
and I am a huta, but I think she was
next to useless. That's just my observation. Sorry if I'm
wrong on that one. He seems to be doing a
good job.
Speaker 5 (07:39):
Well, you are wrong, and he has been doing it
for quite some time. He was the minister and with
us from twenty seventeen to twenty build a lot of
connections across the globe. He's been around for a while
and had some of those prior to that as well,
so you know, he's got the experience and as I say,
personal connections which help him. I hope they help us
(08:00):
in the US. At the moment, it's a very, very
troubling time. We don't know what will happen from one
day to the next, and Winston's over there. I guess
we're keeping a low profile is a great objective. The
minute you've gone to Washington, as he has, our profile
will be lifted. And I guess we just got to
make sure we go keep carding across fire.
Speaker 3 (08:18):
Damian O'Connor, thanks for your time today. I think we
agreed too much. Not good for ratings, but always enjoy
having you on the show.
Speaker 5 (08:24):
Damien, Thanks Jamie. I always I'm sure I'll be able
to find an argument with you.
Speaker 3 (08:29):
I'm sure. Well, thanks for your time, have a good day, Thank.
Speaker 5 (08:31):
You, bye.
Speaker 2 (08:33):
The best of the country with rubber Bag the Bank
with local agri banking experts passionate about the future of
rural communities.
Speaker 3 (08:40):
Rubber Bag haven't caught up with this bloke for a while.
His name is Matt chism former television star these days
rural mental health advocate and Central Otago hobby farmer. He's
got the south down start and some short horns as
well on his farm near Shadow Creek. Hey, Matt Chisholm,
the first question for you is did you get meaningful
(09:02):
rain overnight?
Speaker 6 (09:03):
I couldn't tell you how much, Jamie, but I woke
up this morning better than Christmas mate. I think I
was middle of an I I woke up, who heard
it coming down? And no better sound, no better sound.
So yeah, we got a bit of rain and the
place looks good this morning. So we're always screaming out
for a bit of rain here at Shadow Creek. Even
if you're a hobby farmer or not, we like it.
(09:24):
And i'd like to think, Jamie, actually that I'm a
little bit more than a hobby farmer. But you call
me whatever you like. I'm just happy you're talking to me.
Speaker 3 (09:30):
Yeah, well, I'm happy to have you talking to me.
What tell us about your hobby farm, which is more
than a hobby farm, because you actually have got a
meaningful southdown sheep stud for instance.
Speaker 6 (09:40):
Yeah, probably got about sixty South Down News now and
selling a few rams to the real farmers. I mean
they come take six or four and I reckon, I've
got done a couple of things now in life and
there's not a whole lot more that makes me proud.
And seeing a trailer, you know, with six look at
south Down rams heading down the road, dust everywhere makes
(10:04):
a good photo in our part of the world actually,
so you're pretty excited about that. And also the other
day eight sheep arrived from Canterbury. My kids, bree Thin
and Bead three, six and eight, they've started their own
south Down stud well, they're on their way to starting
their own Southdown stud so they haven't seen just how
stupid Dad is trying to have a go. They're having
(10:26):
to go themselves, which is you know, they're in that
stage where they still think Dad's pretty cool, which is neat.
Speaker 3 (10:30):
But here's a question for your matches and how stupid
has Dad been recently? They tell me that you're vastly
increasing your daily step count.
Speaker 7 (10:38):
Yeah.
Speaker 6 (10:39):
Look, I can take away the booze and drugs, Jamie,
but my life is always going to be a little chaotic,
you know. The talks them seeing the TV producing and
the kids and their sports. So I'm always running a
little bit late, and I got pulled over. Come home
camping at har where come home check we had any
(11:00):
fldline lambs and these beautiful southdowns and just took cartway
from home, saw that the lights, heard the siren, lockdown.
I'm doing one hundred and seventeen clicks.
Speaker 8 (11:10):
The little.
Speaker 6 (11:13):
Pommy bloody copper tells me that that's one hundred demerit points.
So I was driving to just drop the kids off
at school the other day in our little village omercau
or all my coat and the local cop who I
play a bit of football with, just sort of signals
me over, hey, Matt, that's one hundred demerits made. I've
got to take your license off yet. Is there anything
you need to do in the next little while before
(11:34):
I take it off?
Speaker 7 (11:35):
Here?
Speaker 6 (11:35):
So I had to go to North Canterbury to the
Heart and Show at the weekend. So that was a
bus from Alexander the Queen's down and oh yeah, it's
a bit of a disaster, Jammy, but I can see
the funny side of it. Three months without a license.
Speaker 3 (11:49):
So interesting changes in Matchism's life. He's doing a bit
more walking than he was due to a lead foot. Hey, Matt,
they told me that you've gone back to studying. You
wouldn't have opened a book since your days at Lincoln.
Speaker 6 (12:04):
I didn't know many books back then, either, Jamie. No, no, look,
I don't mind a bit of change. Actually I embrace change.
And you know, I've made a decision to step out
of the television in the journalism game. But probably I
think certainly TV probably are right for you, Jamie. A
man is telling for you. But I'm not going to
(12:25):
feed my family and making television for the next twenty years.
So yeah, I've gone back to the books. So I'm
actually standing outside of the Alexandra Public Library because I
can't do anything at home, because I just want to
get outside and look at my beautiful animals and pretend
to do some work. So I come under the Alexandra
Library when I'm not racing around the country and buses nowadays,
(12:47):
and I'm doing some study. Probably can't tell you exactly
what I'm studying at this point, but I'm pretty excited
about a new chapter.
Speaker 3 (12:54):
Yeah, matchism taking up, but of study, this is the
best of the country. My name's Jamie. Mckit's brought to
you by Rabobank talking about Rabobank and study. Applications are
now open for Rabobank's two business management programs for primary producers.
That's you guys out there at the farmers. There's the
(13:16):
farm Manager's Program and there's the Executive Development Program. The
two programs have been developed specifically for farmers from across
New Zealand and Australia who are looking to take their
business and leadership to the next level. For more information,
visit the rabowebsite rabobank dot co dot Nz. Applications close
at the end of the month March the thirty. First
(13:38):
up next, Doctor Jacqueline Roweth Watter is Lokovre March and
talking about Rabobank Bruce Ware on the latest Farmer Confidence survey.
Speaker 1 (13:50):
The best of the country with Rabobank.
Speaker 2 (13:53):
Choose the bank with one hundred and twenty years global
acribusiness experience.
Speaker 1 (13:57):
Grow with Rabobank.
Speaker 3 (13:58):
She is one of our leading primary sect their academics. Fortnightly.
She writes a wonderful column on our website, The Coountry
dot co dot zid Chequel and Roweth. If you don't
mind me saying so, you've outdone yourself this week or
this fortnight with your Locovore March column. Tell me all
about Locovore March, A new way of eating with your
(14:20):
mind engaged.
Speaker 4 (14:22):
Well, we're being promoted at the beginning of the mark
the month, and we're halfway through, and I wonder how
many people have actually done it. And they're trying to
eat within a certain radius maybe one hundred and fifty
k of where they're living. And it should be about
producing as well as preparing, and it's actually incredibly restrictive,
(14:44):
and people don't realize how limited their whole eating then become.
So I've got some various examples there, and of course
the prime one is chocolate. When people don't realize we
don't grow chocolate their own sugar, then their whole way
of life will check and think about tea and coffee,
where does that actually grow? And of course we're aware
(15:05):
about the tropical fruits such as bananas and pineapples, but
avocados are in there as well, and spices. We don't
grow spices except for saffron and then salt. You're in
fundamentally within Grassmere, the Marlga region. It's very limiting and
I don't think people realize about grain for your toast
(15:26):
and sandwiches either mostly South Island or imported from indeed Australia.
Speaker 3 (15:31):
Not hijaqual and not to mention South Island as not
being able to have smashed avocado on toast.
Speaker 4 (15:38):
Your cope, your cop but no, they wouldn't be able to.
But there are all sorts of interesting things when you
start thinking about a radius like that, so you can
go along to your farmer's market. There's been some bit
of coverage about them this month as well, but actually
quite a lot of what they prepare has come from
things that were grown further away. So the critical thing
(16:00):
about whatever radius they've decided is that the people who
are selling it have been involved in the preparation and
perhaps the production. But it's there that you see what
is actually in season and what you might be able
to eat for the week. I think the farmer's markets
have a great place, and it's really helping people to
(16:21):
see what it really takes to produce food. But then
also think about the localization, because when I'm at a
farmer's market, I see a lot of things like juices
or jams and chutneys and those sorts of things, but
you do actually need to think where the sugar comes from.
And it's not New Zealand.
Speaker 3 (16:41):
Obviously, back in the old cave man days, Jack wall
n rowis, every month was a log of war months,
because one hundred and fifty kilometers would have been one
hell of a radius for a cave man.
Speaker 9 (16:53):
Ears.
Speaker 4 (16:54):
Yes, I think it would be rather than less. So
the way you ate, and there are all sorts of
theories about what you had available to you. I think
you ate whatever you could get, frankly, and there are
people who say we shouldn't eat one thing or another,
but you know, our teeth showed that we were pretty
much omnivorous, and we ate what we could get. And
(17:15):
there was a lot of exercise, there was a lot
of lifting, and people were fundamentally healthy. If they got
through the first few years, they lived as long as
we do. It's just that most of them died when
they were before they reached adulthood.
Speaker 3 (17:28):
Hi, Jack, Well, and what happens if you lived in Greenland? Now?
The old trumpster he wants to take it over. But
here's an interesting step from your column. Greenland is only
seventeen percent food secure.
Speaker 4 (17:41):
Yeah, that is certainly the estimate, and it's because they
can't grow much and they have access when it's not
completely frozen to fish and seals, and you know, there's
lots of blubber there so they can try and keep
warm and they can get oil. But food was one
of the main problems with actually getting to through the winter.
And I think we'll talk in a couple of weeks
(18:02):
about the whole celebrations of food supply, and we're coming
into easter we will be able to celebrate the fact
that the hens are laying again. This is in the
northern hemisphere, and the cows are in milk. But just
remember think about Thanksgiving Day, food arrived and the poor
old turkey gets either pardoned or eaten. So food has
(18:24):
played a major part in our cultural development and indeed
in our survival, and sometimes we forget. And that's why
we're so I'm so pleased to be talking to you
today because it is National Agriculture Day in the United
States of America. They've got a whole week of celebrations
reminding us about the field and the farms and the
(18:46):
people who keep them going.
Speaker 3 (18:47):
Doctor Jackwell and rollis always appreciate your time. You can
read all about it on our website The Country dot
co dot Nz. Catch you in a fortnight.
Speaker 4 (18:55):
Lovely towards you.
Speaker 2 (18:56):
Then the best of the country with Rabobank. Choose the
bank with a huge network of progressive farming clients.
Speaker 1 (19:03):
Rabobank.
Speaker 3 (19:04):
Well, let's kick off the show today with the good
news story. It is the latest Rabobank Rural Confidence Survey.
We're heading to Sydney. He's over there for a board meeting.
He mixes with the rich and famous, the GM for
Country Banking for Rabobank. Bruce Ware and Bruce, you'd do
anything to get away from that Whitecado drought in the tron.
Speaker 7 (19:23):
Yes, pretty bad there, Jamie, but I do understand we've
had ten mills of rain yesterday and overnight.
Speaker 3 (19:29):
So we'll take that absolutely, you'll take it. We'll also
take the improved sentiment among sheep and beef farmers, which
has helped drive a third consecutive lift in that farmer
Confidence survey. This is your first one for twenty twenty five.
Talk us through some of the numbers.
Speaker 9 (19:45):
Bruce, Yeah, Jamie, you're following the big jump in quarter
four twenty fourth Farmer conference has risen it not you say,
exciting thing is actually the third time in a row.
Speaker 7 (19:56):
The next net confidence is now sitting at forty four percent,
up from thirty four percent, which is the second highest
reading recorded over the past ten years, with quarter to
twenty seventeen being the highest at fifty two percent. So
let's hope we've turned a corner. But like you say,
it was really nice to see this time around sheep
(20:16):
and beef farmers leading the charge, recording the biggest uplift
up forty one up to forty one percent from twenty percent.
Speaker 3 (20:24):
Yeah, and I guess that's driven off the back of
record beef prices and lambs up a couple of dollars
a kilo on where it was last year. Mutton's better.
We just need the strong wall to come right, Bruce Ware,
I'm not holding the breath on that one.
Speaker 7 (20:38):
No, that's a different story, I think, near Jamie. But
as you know, last time we spoke towards in the
last year, there was a wee bit of optimism in
sheep and beef and we just needed those red meat
prices to hold Bucktor trends of those sort of sort
of sticker summer period months. But as we know, they've
certainly done that and in places actually above five year averages.
Speaker 3 (20:57):
Now, when we look at the reason farmers a positive,
these are probably self evident. I could have saved you
the problem of doing your survey, Bruce, because you don't
have to be a rocket scientist to figure out higher
commodity prices driving the positivity that's coming from sixty two
percent of those surveyed falling interest rates. This is interesting
from a bank's point of view. Was second place at
(21:20):
twenty two percent. I thought it might have been higher,
and I think, Bruce, this is just a reflection of
how slow U banks have been in dropping interest rates.
What do you say in your defense.
Speaker 7 (21:30):
Oh, I think we're doing all we can there, Jamie.
We're following the ACR down, so maybe we need more
cuts quicker.
Speaker 3 (21:39):
Now those who were identified as looking less favorably at
the year ahead, and it wasn't many of them. Most
farmers are reasonably positive at the moment. Once again, rising
input costs thirty three percent, no surprise there. But government
and intervention and policies is topping the list at thirty
seven percent. Once again, a wee bit of a surprise
(22:00):
for me, because I don't think this government could be
too much more farmer friendly.
Speaker 7 (22:05):
Yeah, look, I do fit I did find that a
wee bit of a surprise, But I do wonder if
the sort of macroeconomic climate gets pulled into that from
a global space. So maybe that's just on farmers minds too,
I believe.
Speaker 3 (22:20):
Okay, so there's a good positive a rural confidence survey
from Rabobank. I'm just coming back to Hamilton where you're
based the White Cato. In fact, the wider North Island,
especially the west and northern parts, are in a drought.
You mentioned ten mills of rain overnight. It's not a
drought breaker, but it's a start. So are you seeing
dairy farmers drying off early?
Speaker 7 (22:41):
I think is a huge sort of drawing cares off
or going once a day. I think we're sort of
still waiting for that rain to come. We had a
couple of really good seasons with supplements, so there's still
plinging your supplement on hand. So I guess with the
reasoning solid payout, still it makes economic sense to be
(23:02):
put a little bit more feed in Jamie. So, but
we don't get rained sooner than the forecast, i'd imagine
to see we'll start seeing people drawing off.
Speaker 3 (23:10):
Just a final one for you. A bit later in
the show, we're going to be chatting to Andy Borland,
who used to be the chair of Rabobank. I know
you know him well now. I know that you're a
tertiary educated man. You don't get to be the GM
of a Rabobank or for country banking without a good,
solid degree behind you. Were you Were you a Lincoln
guy or a Massy guy?
Speaker 7 (23:30):
No, No, I had quite good marks, Jamie, so I
got him too, Messy.
Speaker 3 (23:33):
That's a bit of a cheap shot. I was going
to ask you if you went to Lincoln. Of course,
there's a rugby reunion coming up, and I know you're
a very keen rugby man.
Speaker 7 (23:42):
Yeah. Yeah, I certainly heard a wee bit about that.
It'll be good to watch on the sidelines, I guess.
But I do have a connection with Lincoln. My daughter
actually started Lincoln this year, so she went against her
mother and I and decided to skip Messy and head
to Lincoln.
Speaker 3 (23:58):
Good honor. Indeed, Lincoln's doing very well. More than five
thousand students in fact, might be five and a half
thousand students on campus and online. So that's a damn
fine result for a university that a few years ago
was in deep trouble. More about that Lincoln rugby reunion
Lincoln College Rugby reunion a bit later in the hour.
But Bruce Ware GM for Country Banking for Rabobank, thanks
(24:20):
for some of your time from Sydney today.
Speaker 7 (24:22):
You think jmy not chet.
Speaker 3 (24:27):
Good morning. My name's Jamie McKay. You are worth the
best of the country. It's brought to you by Rabobank.
You've just heard from Bruce Ware on the farmer Confidence survey.
Up next, Andy balland talking about that Lincoln rugby reunion.
Andy is of course a former chair of Rabobank. These
days managing director of Scales Court, one of our biggest
(24:48):
horticulture company. Scott his views also on the PM's trade
delegation to India and what tariff free apples could mean
for New Zealand horticulture. We're going to wrap it with
Miles Furrel. Miles Furrel, try that again, Miles Hurrell. Fon Terras,
don't say it too quickly. Chief executive, who said on
Thursday's show he was bloody proud of the co op's
(25:09):
excellent half year result. Now before I forget talking about Rabobank,
they're running a wonderful community initiative at the moment. It's
the rabo Community Hub competition running for the first time
this year. The competition provides entrance with a chance to
win five grand to go towards the improvement of their
rural community hall. Clubrooms could be the footy clubrooms or
(25:30):
your MARAA. Twenty winners will be selected from across the country.
They'll each receive five grand of funding to help upgrade
their rural community hub. To find out more, go to
the rabobank website rabobank dot co dot nz. Up next,
Andy Borland.
Speaker 2 (25:49):
The best of the country with Rabobank, the bank with
local agri banking experts passionate about the future of rural communities.
Speaker 3 (25:57):
Rabobank and who wears quite a few hats in a
agriculture in the primary sector. His name is Andy Borland.
He's the managing director of Scales Corp. Their chair Mike
Peterson is in India with the Prime Minister at the moment.
He's a former chair of rabobank and for the purposes
of this interview, Andy, you are one of the organizers
of the Lincoln College Rugby Football Club reunion for all
(26:21):
those you and me included who played footy for Lincoln
College before it became Lincoln University in nineteen ninety. Tell
us all about it.
Speaker 8 (26:31):
Yeah, thanks, Jamie Nook. We were talking to a group
of us, were talking in the Lincoln College, if you like,
went without saying goodbye. So we decided we'd get the
title the Last Autumn Muster Reunion for all of those
rugby players and you know, men and woman that played
for Lincoln and still around from the late fifties right
(26:53):
through to that ninety ninety change over. So there's a
fair group of them. All teams are obviously welcome, from
the hard case social teams right through to the first fifteen.
So and you know we're excited to, I guess get
them all together to celebrate and acknowledge old times. But yeah, clearly,
being the president of the Lincoln Lincoln University Rugby Football Club,
(27:17):
I've got a bit of a mandate to try and
find them a bit of funding every now and then.
So we're going to raise a bit of money with
the ticket, but also some really cool option items, Jamie.
Speaker 3 (27:28):
And over the years, Lincoln College, these days Lincoln University
had some great rugby teams and some great rugby players.
Lots of All Blacks played for Lincoln College, and I
think I turned up there in nineteen eighty two as
a dip agger. You were there as a youngster doing
a commerce degree. But I think the year before us,
the nineteen eighty one Lincoln First fifteen as it was
(27:51):
in those days, was arguably one of the best rugby
teams the college that ever put out.
Speaker 8 (27:57):
Oh for sure, and they won the Crosiers competition that year.
They had Craig Green, Albi Anderson, Bruce Dean's I wouldn't
miss any out, but there was a hell of a
lot of them. We're in and around the All Blacks
or Canterbury and they were a very good site.
Speaker 3 (28:14):
Yeah, and a guy called Dave White who probably should
have been on All Black.
Speaker 8 (28:18):
Yeah, he was him and Albert Anderson is luck. You
couldn't get better. I wouldn't have thought.
Speaker 3 (28:22):
Okay, So how does the weekend pan out?
Speaker 4 (28:26):
Yeah?
Speaker 8 (28:26):
Well, look for the real Keen get down here on Thursday,
get the christ which on Thursday, and there's an evening
function there at the high school Old Boys Club. The
Andy Owen sort of knows those guys that have welcomed
us in and let us make a bit of money
on anything we sell. But the main function is the
next day, the Friday night, twenty third of May, where
(28:48):
we've got a function from about four o'clock at the
Hornby Workingmen's Club. There's a big room there which we'll
have a few beers and a few yarns and also
have a meal and here from some hard case you know,
colleagues and older students and are going to sort of
run a prize auction system as well. So it should
(29:10):
be fun.
Speaker 3 (29:10):
Now on Saturday to get along and support the current team.
Speaker 8 (29:14):
Sure, on Saturday, there's a lot to see out at
Lincoln for those that haven't been around. The rebuild has
been incredible what they've done out there. They've just recommissioned
Memorial Hall. There's there's it's worth going out for sure.
So there'll be a tour of the university on the
Saturday of the twenty fourth, and you know, we'll give
you a tend's brief lunch and then we're off to
(29:37):
watch the rugby, which is our club day for the
for the year, so we all most of the teams
are playing out there, so it would be great for
the older guys and girls to see see how the
teams are performing.
Speaker 3 (29:48):
Now yew on Sunday, you just lock your ounds and
go home. So how do you register for they?
Speaker 8 (29:54):
Well, you can link on the the Lincoln University Alumni
website or just a fe and came to google, you know,
Lincoln College Rugby Football Club Reunion. That will take you
straight to the portal and you can you know, you
fill the foreman and send your money and you're all
set to go. It's not a simple process. I'm not
an it genius myself, but I managed to get through it.
Speaker 6 (30:16):
Yeah.
Speaker 3 (30:16):
Well, I'm as thick as to planks when it comes
to it. And I just googled Lincoln College Rugby Football
Club Reunion and there you go, all the informations in
front of you. Talk to me, put on your scales
hat managing director. Of course, you're our biggest apple exporter
in this country. I think I'm right in saying that,
aren't I.
Speaker 8 (30:34):
Andy pretty close to it.
Speaker 3 (30:35):
Yeah, okay, So how's Mike Petterson getting on in India
with the PM.
Speaker 8 (30:40):
Well, we haven't heard from him, but it was good
of he's and when he was special endboy for the
Trade Ministers back in the day, I'm talking about like
sem or eight years ago, maybe ten. He toured the
world with like Sir Mike Grocer and those guys, and
he went in there a lot, and you know, he
knows a lot about that part of you know, how
(31:00):
those trade deals work. So it was logical for Mike
to go when we scale's got an invitation by mister Apple,
so to send Mic up there is credibly experienced and yeah,
we're hoping for a good outcome for the accctor.
Speaker 3 (31:16):
At the moment, your tariff on apples is something like
forty nine percent. And I was talking to Todd McLay
about this yesterday, and I know you heard that interview. Look,
if we could get zero tariffs on say lamb and horticulture,
that would be a great result.
Speaker 7 (31:30):
Ah.
Speaker 8 (31:31):
Sure, I mean it's a fast growing economy. I think
it's the world's largest population now. They certainly have a need,
like in their apples sense that their apple crop gets
absolutely cleaned out, eaten, So there's no sort of great,
big cool stores processes taking them through for twelve months.
So they need the import apples to fill in that
(31:53):
part of the season. So it's a great opportunity for
us to you know to we're selling all our varieties
into and do INDIEIR and it's.
Speaker 10 (32:00):
A great market.
Speaker 3 (32:01):
Hey, Andy Ball and MD of Scales Corp. Great to
have you on the show today. Remember if you want
to go to the Lincoln College Rugby Football Club reunion,
just google it. It'll take you straight there and you
can register. You're a born and bred Southlander like me. Andy,
I'll see you at Duck Shooting.
Speaker 8 (32:18):
Hey, thanks very much, Jamie, I really appreciate it.
Speaker 1 (32:20):
The best of the country with Rubbobak.
Speaker 2 (32:23):
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Speaker 3 (32:29):
Reports an increase net profit and interim dividend. That is
the headline I read this morning on business desk. To
run us through the numbers, the chief executive Miles Hurrell
Myles were all these sort of in line with market expectations.
Speaker 10 (32:43):
Yeah, good eving, Jamie. Are they're on line with probably
the expectations that we put out a week or ten
days ago when we increased our guidance. So as we
went to close out the half year, the numbers that
it became obvious to us that actually we'd had a
very good half year and therefore the full year was
a little but under cooked in terms of the guidance
we had out there. So it's the reason we came
to market. So not not a jar from we were
(33:05):
ten days ago, but from where we opened the season
on the back of a pretty low milk price last year,
through a ten dollars milk price this year and then
guidance at fifty five to seventy five. It's a pretty
good result from the team and I'm bloody.
Speaker 3 (33:18):
Proud of it. Well, so you should be. Let's have
a look at some of these numbers. Let's crunch the numbers,
the forecast milk price. You've just narrowed the band down there,
it's now between nine seventy and ten thirty ten dollars
miles hurrales locked and loaded there.
Speaker 10 (33:32):
Yeah, I mean it's a few months ago before we
close the books completely endo July, but we feel confident
as we sit here today. You know, milk milk's up
across the country. Not we're seeing that it's pretty dry
at the moment, but milk milk's still up across the country,
and you know, buyers know that, and so we just
need to keep an eye on that a little bit
and make sure that it's sort of doesn't catch us
out at the last hurdle. But as we sit here today,
(33:52):
ten bucks teen bucks looks a pretty solid position for us.
Speaker 3 (33:56):
Yet, just on those milk volumes, is the North Island
drought not going to take its to time there?
Speaker 4 (34:01):
Well?
Speaker 10 (34:01):
Interesting enough, milk's still holding up, which suggests to me
there's obviously but a supplementary feed going and I guess
at ten dollars, farmers will make their own calls on that,
so you know, it's certainly not coming off at the
rate we would have historically, that feed will get to
a point where it just doesn't work economically and farmers
will make the call and we'll see it. We'll set
up peel off quite quickly. But as we're cilly today
(34:22):
and it's holding up pretty well all things considered.
Speaker 3 (34:25):
Fonterra Farmer shareholders get paid in two different ways. One
is for the milk price, the other one is the
dividend on their co op shares. Now the interim dividend
is twenty two cents per share, up from fifteen cents
last year. But the differences and this is only half
your dividend, well, this is tax paid.
Speaker 10 (34:43):
Yeah, fully impewed it to twenty two cents versus last
year's fifteen. I mean, I guess the headline number is
their fifteen last year to close on thirty or thirty
and a half cents if you'd talk of tax paid position.
So I guess that's a reflection of that our tax
losses that we had accumulated over many years are no
longer and so so farmers should see that as a
positive that twenty two cents tax paid is a great position.
Speaker 3 (35:05):
Now you're going to smash the record for the best
dividend because the previous best by my reckoning anyhow, was
fifty five cents last season. Of course that wasn't tax paid,
So you're going to beat that comfortably.
Speaker 10 (35:19):
Well, that's certainly the aim, and our team's got the
shoulders of the wheel over the next few months to
ensure we do close out the year in a positive fashion.
And we sit here today feeling good about that. But
you know, you only have to pick up any of
the newspapers on Maintrei media to see some of the
macroeconomic positions that are out there, that duopolitics that are
in play, and so we need to watch that carefully.
We've never god it very well today and see no
(35:40):
reason why we can't into the future. But you were
in a different world than we were a few years ago,
that's for sure.
Speaker 3 (35:45):
I see the ingredients business has an increased profit. That's wonderful.
Your consumer channel, this is the one that you're going
to flag off. Sales grew by eight point five percent.
Are you sure you should be selling the smiles?
Speaker 10 (35:58):
Well, I mean the headline number, it is a good
there's a good number of revenues up, gross margins. I
mean those are good news stories, of course when you
look at it from just those two metrics alone. But again,
it all comes back to that return on capital we've
talked previously. You know, it's about a three point four
percent of three or four billion or other capital tied
up in that consumer business. So it needs to return
(36:20):
significantly more than that to even keep pace with our
ingredients or even our food service business. And so yes,
at the headline number looks like it's heading in the
right direction, But you know, we're a long long way
off where I believe we need to get to from
a respectable turn from a farmer's perspective, And therefore, it
is the right time to think of other new ownership
structures out there. Hence the reason we're going hard out
(36:41):
on both trade sale and and IPO as we speak a.
Speaker 3 (36:43):
Wee bit earlier this morning, I had a look at
your share price four dollars ninety four as a yield.
It's not a bad investment, you find ter of shares
these days.
Speaker 10 (36:51):
Yeah, Well, the sheepross will be what the seer pros
will be, and my farmers will determine that because they
obviously sell amongst themselves, sell them buy and sell them themselves,
but obviously deliver the results that you've seen today. And
hopefully that gives some confidence and momentum to farmers to
take up those years. But they'll make their own course.
But you're pleasing to see the momentum in that regard.
Speaker 3 (37:12):
John Keith famously said new Zealand goes where Fontira goes.
Maybe we're getting back to those heady days.
Speaker 10 (37:19):
Well, I mean it is pleasing in New Zealand, as
we all know, economically struggling along a little bit at
the moment, and so to see the New Zealand aery
industry and Fonterira a sort of helping it and doing
its part. I mean, that's great news for us and
finally maybe a farmer will get some other recognition that
they deserve.
Speaker 3 (37:36):
Miles Hurrell, thanks for your time. Congratulations to you, Peter
McBride and all the team at Fonterra. This is a
great result.
Speaker 10 (37:42):
Great thanks for musch Jomy. Talk you soon.
Speaker 2 (37:44):
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with a huge network of progressive farming clients.
Speaker 3 (37:50):
Rabobank, Miles Hurrell wrapping the best of the Country. It's
brought to you by Rabobank. I'm Jamie Mackay. Catch yourself time,
same place next Saturday morning. Go my Highlanders this afternoon
against the Reds. Gonna leave you with Kate Bush and
Peter Gabriel used to be the lead singer for Genesis
(38:12):
before he left the band and left the singing to
Phil Collins, go the Landers.
Speaker 11 (38:22):
Lest your head.
Speaker 8 (38:26):
You worry too much.
Speaker 11 (38:30):
It's gonna be ol right well, time scared, cancel, corder
to give lease, still give.
Speaker 12 (38:50):
Up God a fee agty you kidding more? You're gonna
stand on that bridge, gem up stand below? What have
(39:13):
the may come?
Speaker 1 (39:15):
I wanted a may go that we.
Speaker 12 (39:24):
Bad rivers Snow moved on to another tone, tried hard
to settle down.
Speaker 1 (39:37):
Forever your John. So many men, so many men no
long needs.
Speaker 11 (39:49):
Do kill because you have? You gill her, You're not
the only one. Don't kill up no reason to be
(40:12):
a ship. Don't kill up you still have, or don't
give up Now we'll brown who you don't kill up.
Speaker 8 (40:35):
You know it's no
Speaker 4 (40:39):
Easy
The best of the country with Rabobank.
Speaker 2 (00:02):
Choose the bank with one hundred and twenty years global
agribusiness experience.
Speaker 1 (00:06):
Grow with Rabobank.
Speaker 3 (00:19):
Please gadda and good morning New Zealand. My name's Jamie McKay.
This is the best of the country, brought to you
each and every Saturday morning here on News Talks, edb
by Rabobank. We're growing a better New Zealand together. Just
felt like a wee bit of Kate Bush this morning.
(00:40):
The reclusive Kate Bush. What a great artist she was.
Damian O'Connor is kicking off the show. Did Labor drop
the trade ball in India? Earlier in the week, I
caught up with Labour's trade spokesperson, former Minister of Agriculture
and asked him to defend himself matchism rural mental health
advocate you've seen I'm on the tally a bit central
(01:01):
Otago hobby farmer who's taken up walking and studying. Will
tell you why. Doctor Jack Willn Rowe is one of
my favorites here on the country. Locavore March. Can we
rarely suffer through thirty one days of eating only food
grown within a one hundred and fifty kilometer radius bruce
Ware from Rabobank on the bank's latest farmer confidence survey.
(01:24):
The numbers are good. Andy Borland, managing director of Scales Corp,
one of our biggest apple exporters, on a Lincoln College
Rugby reunion and getting apples into India. Miles Hurrel wraps
the show, chief executive of Fonterra, who said on Thursday's
show he's bloody proud of the co op's excellent half
(01:44):
year result with an increased net profit and increased interim dividend.
Fonterra going great guns at the moment. It's all on
the best of the country. It's brought to you by Rabobank.
Speaker 2 (02:01):
The best of the country with Rabobank. Choose the bank
with a huge network of progressive farming clients.
Speaker 1 (02:07):
Rabobank.
Speaker 3 (02:08):
Damian O'Connor as Labour's trade spokesperson, former Minister of Agriculture.
Of course. Now, Damien, I know you didn't hear Todd McLay,
but he actually said some nice things about you as
a former trade minister. Are you going to reciprocate and
say nice things about him?
Speaker 4 (02:25):
Here?
Speaker 5 (02:25):
I have to congratulate him. You know, the energy and
the trips and the effeties made into India, and you know,
getting the UAE and the GCC thing deals over the line.
That's that's great, and I have a compliment on that's
good for all of our economy and for our country.
Speaker 3 (02:42):
He's made five trips to India. I'm not sure how
many you made, but Winston's been on a plane constantly
also as a Foreign Affairs minister, and I never left
the country.
Speaker 5 (02:54):
No, that's completely untrue. And I did make trips. I
don't know whether you've forgotten that COVID Jamie of interrupted
a couple of years of travel and meetings with people
around the world. I made three trips to India, and
David Parker Winston had made them to Naima Huta had
made them, and of course we hosted the Indian Foreign Minister.
(03:16):
Prime Minister Adurn met with primes to Mody. Chris Hopkins
met with Mody too, So we were working on those
relationships and partnerships. And it's great that it's coming to
fruition and we're making progress here.
Speaker 3 (03:29):
But didn't you just end up sort of dropping the
ball and saying India is just in the too heart
a basket.
Speaker 5 (03:35):
No, I think there was a comment from the Nayama
who to say it wasn't a priority at the time,
because India had given a clear indication to us that
a free trade agreement at that time wasn't a priority
or something they were prepared to consider. But they did
want to continue to build the relationships. And indeed that's
what has happened between Indian people, New Zealanders, cricketers, everyone
(03:56):
has been building a strong relationship. And in goodluck to
the negotiators on this comprehensive trade agreement. And I have
said that you know, there is our biggest industry. We
do need to have it included in there. Although it's
going to be a challenge.
Speaker 3 (04:11):
The reality of it is dairy may not be a
big part of the steal. It doesn't need to be
a big part of the steel. There's plenty of other
countries around the world. We can send our dairy products too.
India is the largest producer of dairy in the world
and getting bigger. Surely we just forget about dairy and
let's concentrate on stuff that's going to be good for
a slam horticulture.
Speaker 5 (04:32):
Well, we don't have enough lamb to fill the market
opportunities now, you know, so you could look at we
have to keep the doors open for every exporter. It's
opening opportunities. It's up to them whether they take them up.
I mean, we might get zero tariff on lamb and
yet it still might be hard work to get a
better price than some of the other markets. And the
exporters will choose whether they go to India or China
(04:54):
or US or EU. You know, these are opportunities, they
are guaranteed outcomes.
Speaker 3 (05:02):
The Aussies have got zero tariff on lamb. We need
to be following in their footsteps, surely.
Speaker 4 (05:08):
Well we do.
Speaker 5 (05:08):
I think you have to talk to the exporters who
are putting lamb into India and see how well it's
going for them. I don't know what the market price is.
There is a lot of There are a lot of
wealthy people in India and whether they're able to target
them accurately and get that return back to the farmers.
I haven't seen the returns for Ossie farmers from that
trade deal.
Speaker 3 (05:29):
Aman, you and I enjoy a bit of a banter
and a bit of a scrap on the old radio.
I look forward to it, actually, so do I have
to start being nice to you, just in case Chippy
sleepwalks to victory.
Speaker 5 (05:39):
Look, you know, surprising where you do hear comments that
this might be a one term government, it might be
a coalition makeup, that might be you know what they're doing.
I'm not making a judgment on that other than look
at the polls. Talk to people around the place who
are not happy with a lot of things that are
going on in our country. But in terms of trade
and our efforts in there, you know, I want to
(06:01):
congratulate and support the Prime Minister and the Minister of
Trade and all the delegation. I had taken the biggest
trade delegation prior to this one to India fifty people.
We didn't have a Kapahaker group, which I know have
gone this time. You know, we had some serious players.
We made some good progress.
Speaker 3 (06:19):
Is it a waste of time sending the Mari cultural group?
Speaker 6 (06:23):
Not at all.
Speaker 5 (06:23):
I think building that cultural connection. We had some body
on our trip as well. It is important that you know,
the bicultural nature of our nation is appreciated and it
helps us actually to sell and to tell the story
of New Zealand and its nation to every market around
the world and we have to keep that up.
Speaker 3 (06:45):
Damian. Could you think of a worse scenario than being
in a coalition government with Roweri and Chloe be honest.
Speaker 5 (06:53):
Oh, being in one with David Seymour.
Speaker 3 (06:55):
Well, I mean that's never going to happen. But I
mean Gee to party, Maria to political party, their activists.
Speaker 5 (07:01):
Well, I mean, you know, they have some principles there
around what they're trying to do. I don't agree with
a lot of what they say, but you know, it
depends on how you negotiate. And I think that chrys
Luxon may may be disappointed that he allowed to get
a few too many things across the line. We just
have to make sure when we negotiate that we keep
things sensible, reasonable and pragmatic for our country.
Speaker 3 (07:24):
You think Winston's doing a good job on the world stage,
and I know you're sticking up for your previous foreign minister,
and I am a huta, but I think she was
next to useless. That's just my observation. Sorry if I'm
wrong on that one. He seems to be doing a
good job.
Speaker 5 (07:39):
Well, you are wrong, and he has been doing it
for quite some time. He was the minister and with
us from twenty seventeen to twenty build a lot of
connections across the globe. He's been around for a while
and had some of those prior to that as well,
so you know, he's got the experience and as I say,
personal connections which help him. I hope they help us
(08:00):
in the US. At the moment, it's a very, very
troubling time. We don't know what will happen from one
day to the next, and Winston's over there. I guess
we're keeping a low profile is a great objective. The
minute you've gone to Washington, as he has, our profile
will be lifted. And I guess we just got to
make sure we go keep carding across fire.
Speaker 3 (08:18):
Damian O'Connor, thanks for your time today. I think we
agreed too much. Not good for ratings, but always enjoy
having you on the show.
Speaker 5 (08:24):
Damien, Thanks Jamie. I always I'm sure I'll be able
to find an argument with you.
Speaker 3 (08:29):
I'm sure. Well, thanks for your time, have a good day, Thank.
Speaker 5 (08:31):
You, bye.
Speaker 2 (08:33):
The best of the country with rubber Bag the Bank
with local agri banking experts passionate about the future of
rural communities.
Speaker 3 (08:40):
Rubber Bag haven't caught up with this bloke for a while.
His name is Matt chism former television star these days
rural mental health advocate and Central Otago hobby farmer. He's
got the south down start and some short horns as
well on his farm near Shadow Creek. Hey, Matt Chisholm,
the first question for you is did you get meaningful
(09:02):
rain overnight?
Speaker 6 (09:03):
I couldn't tell you how much, Jamie, but I woke
up this morning better than Christmas mate. I think I
was middle of an I I woke up, who heard
it coming down? And no better sound, no better sound.
So yeah, we got a bit of rain and the
place looks good this morning. So we're always screaming out
for a bit of rain here at Shadow Creek. Even
if you're a hobby farmer or not, we like it.
(09:24):
And i'd like to think, Jamie, actually that I'm a
little bit more than a hobby farmer. But you call
me whatever you like. I'm just happy you're talking to me.
Speaker 3 (09:30):
Yeah, well, I'm happy to have you talking to me.
What tell us about your hobby farm, which is more
than a hobby farm, because you actually have got a
meaningful southdown sheep stud for instance.
Speaker 6 (09:40):
Yeah, probably got about sixty South Down News now and
selling a few rams to the real farmers. I mean
they come take six or four and I reckon, I've
got done a couple of things now in life and
there's not a whole lot more that makes me proud.
And seeing a trailer, you know, with six look at
south Down rams heading down the road, dust everywhere makes
(10:04):
a good photo in our part of the world actually,
so you're pretty excited about that. And also the other
day eight sheep arrived from Canterbury. My kids, bree Thin
and Bead three, six and eight, they've started their own
south Down stud well, they're on their way to starting
their own Southdown stud so they haven't seen just how
stupid Dad is trying to have a go. They're having
(10:26):
to go themselves, which is you know, they're in that
stage where they still think Dad's pretty cool, which is neat.
Speaker 3 (10:30):
But here's a question for your matches and how stupid
has Dad been recently? They tell me that you're vastly
increasing your daily step count.
Speaker 7 (10:38):
Yeah.
Speaker 6 (10:39):
Look, I can take away the booze and drugs, Jamie,
but my life is always going to be a little chaotic,
you know. The talks them seeing the TV producing and
the kids and their sports. So I'm always running a
little bit late, and I got pulled over. Come home
camping at har where come home check we had any
(11:00):
fldline lambs and these beautiful southdowns and just took cartway
from home, saw that the lights, heard the siren, lockdown.
I'm doing one hundred and seventeen clicks.
Speaker 8 (11:10):
The little.
Speaker 6 (11:13):
Pommy bloody copper tells me that that's one hundred demerit points.
So I was driving to just drop the kids off
at school the other day in our little village omercau
or all my coat and the local cop who I
play a bit of football with, just sort of signals
me over, hey, Matt, that's one hundred demerits made. I've
got to take your license off yet. Is there anything
you need to do in the next little while before
(11:34):
I take it off?
Speaker 7 (11:35):
Here?
Speaker 6 (11:35):
So I had to go to North Canterbury to the
Heart and Show at the weekend. So that was a
bus from Alexander the Queen's down and oh yeah, it's
a bit of a disaster, Jammy, but I can see
the funny side of it. Three months without a license.
Speaker 3 (11:49):
So interesting changes in Matchism's life. He's doing a bit
more walking than he was due to a lead foot. Hey, Matt,
they told me that you've gone back to studying. You
wouldn't have opened a book since your days at Lincoln.
Speaker 6 (12:04):
I didn't know many books back then, either, Jamie. No, no, look,
I don't mind a bit of change. Actually I embrace change.
And you know, I've made a decision to step out
of the television in the journalism game. But probably I
think certainly TV probably are right for you, Jamie. A
man is telling for you. But I'm not going to
(12:25):
feed my family and making television for the next twenty years.
So yeah, I've gone back to the books. So I'm
actually standing outside of the Alexandra Public Library because I
can't do anything at home, because I just want to
get outside and look at my beautiful animals and pretend
to do some work. So I come under the Alexandra
Library when I'm not racing around the country and buses nowadays,
(12:47):
and I'm doing some study. Probably can't tell you exactly
what I'm studying at this point, but I'm pretty excited
about a new chapter.
Speaker 3 (12:54):
Yeah, matchism taking up, but of study, this is the
best of the country. My name's Jamie. Mckit's brought to
you by Rabobank talking about Rabobank and study. Applications are
now open for Rabobank's two business management programs for primary producers.
That's you guys out there at the farmers. There's the
(13:16):
farm Manager's Program and there's the Executive Development Program. The
two programs have been developed specifically for farmers from across
New Zealand and Australia who are looking to take their
business and leadership to the next level. For more information,
visit the rabowebsite rabobank dot co dot Nz. Applications close
at the end of the month March the thirty. First
(13:38):
up next, Doctor Jacqueline Roweth Watter is Lokovre March and
talking about Rabobank Bruce Ware on the latest Farmer Confidence survey.
Speaker 1 (13:50):
The best of the country with Rabobank.
Speaker 2 (13:53):
Choose the bank with one hundred and twenty years global
acribusiness experience.
Speaker 1 (13:57):
Grow with Rabobank.
Speaker 3 (13:58):
She is one of our leading primary sect their academics. Fortnightly.
She writes a wonderful column on our website, The Coountry
dot co dot zid Chequel and Roweth. If you don't
mind me saying so, you've outdone yourself this week or
this fortnight with your Locovore March column. Tell me all
about Locovore March, A new way of eating with your
(14:20):
mind engaged.
Speaker 4 (14:22):
Well, we're being promoted at the beginning of the mark
the month, and we're halfway through, and I wonder how
many people have actually done it. And they're trying to
eat within a certain radius maybe one hundred and fifty
k of where they're living. And it should be about
producing as well as preparing, and it's actually incredibly restrictive,
(14:44):
and people don't realize how limited their whole eating then become.
So I've got some various examples there, and of course
the prime one is chocolate. When people don't realize we
don't grow chocolate their own sugar, then their whole way
of life will check and think about tea and coffee,
where does that actually grow? And of course we're aware
(15:05):
about the tropical fruits such as bananas and pineapples, but
avocados are in there as well, and spices. We don't
grow spices except for saffron and then salt. You're in
fundamentally within Grassmere, the Marlga region. It's very limiting and
I don't think people realize about grain for your toast
(15:26):
and sandwiches either mostly South Island or imported from indeed Australia.
Speaker 3 (15:31):
Not hijaqual and not to mention South Island as not
being able to have smashed avocado on toast.
Speaker 4 (15:38):
Your cope, your cop but no, they wouldn't be able to.
But there are all sorts of interesting things when you
start thinking about a radius like that, so you can
go along to your farmer's market. There's been some bit
of coverage about them this month as well, but actually
quite a lot of what they prepare has come from
things that were grown further away. So the critical thing
(16:00):
about whatever radius they've decided is that the people who
are selling it have been involved in the preparation and
perhaps the production. But it's there that you see what
is actually in season and what you might be able
to eat for the week. I think the farmer's markets
have a great place, and it's really helping people to
(16:21):
see what it really takes to produce food. But then
also think about the localization, because when I'm at a
farmer's market, I see a lot of things like juices
or jams and chutneys and those sorts of things, but
you do actually need to think where the sugar comes from.
And it's not New Zealand.
Speaker 3 (16:41):
Obviously, back in the old cave man days, Jack wall
n rowis, every month was a log of war months,
because one hundred and fifty kilometers would have been one
hell of a radius for a cave man.
Speaker 9 (16:53):
Ears.
Speaker 4 (16:54):
Yes, I think it would be rather than less. So
the way you ate, and there are all sorts of
theories about what you had available to you. I think
you ate whatever you could get, frankly, and there are
people who say we shouldn't eat one thing or another,
but you know, our teeth showed that we were pretty
much omnivorous, and we ate what we could get. And
(17:15):
there was a lot of exercise, there was a lot
of lifting, and people were fundamentally healthy. If they got
through the first few years, they lived as long as
we do. It's just that most of them died when
they were before they reached adulthood.
Speaker 3 (17:28):
Hi, Jack, Well, and what happens if you lived in Greenland? Now?
The old trumpster he wants to take it over. But
here's an interesting step from your column. Greenland is only
seventeen percent food secure.
Speaker 4 (17:41):
Yeah, that is certainly the estimate, and it's because they
can't grow much and they have access when it's not
completely frozen to fish and seals, and you know, there's
lots of blubber there so they can try and keep
warm and they can get oil. But food was one
of the main problems with actually getting to through the winter.
And I think we'll talk in a couple of weeks
(18:02):
about the whole celebrations of food supply, and we're coming
into easter we will be able to celebrate the fact
that the hens are laying again. This is in the
northern hemisphere, and the cows are in milk. But just
remember think about Thanksgiving Day, food arrived and the poor
old turkey gets either pardoned or eaten. So food has
(18:24):
played a major part in our cultural development and indeed
in our survival, and sometimes we forget. And that's why
we're so I'm so pleased to be talking to you
today because it is National Agriculture Day in the United
States of America. They've got a whole week of celebrations
reminding us about the field and the farms and the
(18:46):
people who keep them going.
Speaker 3 (18:47):
Doctor Jackwell and rollis always appreciate your time. You can
read all about it on our website The Country dot
co dot Nz. Catch you in a fortnight.
Speaker 4 (18:55):
Lovely towards you.
Speaker 2 (18:56):
Then the best of the country with Rabobank. Choose the
bank with a huge network of progressive farming clients.
Speaker 1 (19:03):
Rabobank.
Speaker 3 (19:04):
Well, let's kick off the show today with the good
news story. It is the latest Rabobank Rural Confidence Survey.
We're heading to Sydney. He's over there for a board meeting.
He mixes with the rich and famous, the GM for
Country Banking for Rabobank. Bruce Ware and Bruce, you'd do
anything to get away from that Whitecado drought in the tron.
Speaker 7 (19:23):
Yes, pretty bad there, Jamie, but I do understand we've
had ten mills of rain yesterday and overnight.
Speaker 3 (19:29):
So we'll take that absolutely, you'll take it. We'll also
take the improved sentiment among sheep and beef farmers, which
has helped drive a third consecutive lift in that farmer
Confidence survey. This is your first one for twenty twenty five.
Talk us through some of the numbers.
Speaker 9 (19:45):
Bruce, Yeah, Jamie, you're following the big jump in quarter
four twenty fourth Farmer conference has risen it not you say,
exciting thing is actually the third time in a row.
Speaker 7 (19:56):
The next net confidence is now sitting at forty four percent,
up from thirty four percent, which is the second highest
reading recorded over the past ten years, with quarter to
twenty seventeen being the highest at fifty two percent. So
let's hope we've turned a corner. But like you say,
it was really nice to see this time around sheep
(20:16):
and beef farmers leading the charge, recording the biggest uplift
up forty one up to forty one percent from twenty percent.
Speaker 3 (20:24):
Yeah, and I guess that's driven off the back of
record beef prices and lambs up a couple of dollars
a kilo on where it was last year. Mutton's better.
We just need the strong wall to come right, Bruce Ware,
I'm not holding the breath on that one.
Speaker 7 (20:38):
No, that's a different story, I think, near Jamie. But
as you know, last time we spoke towards in the
last year, there was a wee bit of optimism in
sheep and beef and we just needed those red meat
prices to hold Bucktor trends of those sort of sort
of sticker summer period months. But as we know, they've
certainly done that and in places actually above five year averages.
Speaker 3 (20:57):
Now, when we look at the reason farmers a positive,
these are probably self evident. I could have saved you
the problem of doing your survey, Bruce, because you don't
have to be a rocket scientist to figure out higher
commodity prices driving the positivity that's coming from sixty two
percent of those surveyed falling interest rates. This is interesting
from a bank's point of view. Was second place at
(21:20):
twenty two percent. I thought it might have been higher,
and I think, Bruce, this is just a reflection of
how slow U banks have been in dropping interest rates.
What do you say in your defense.
Speaker 7 (21:30):
Oh, I think we're doing all we can there, Jamie.
We're following the ACR down, so maybe we need more
cuts quicker.
Speaker 3 (21:39):
Now those who were identified as looking less favorably at
the year ahead, and it wasn't many of them. Most
farmers are reasonably positive at the moment. Once again, rising
input costs thirty three percent, no surprise there. But government
and intervention and policies is topping the list at thirty
seven percent. Once again, a wee bit of a surprise
(22:00):
for me, because I don't think this government could be
too much more farmer friendly.
Speaker 7 (22:05):
Yeah, look, I do fit I did find that a
wee bit of a surprise, But I do wonder if
the sort of macroeconomic climate gets pulled into that from
a global space. So maybe that's just on farmers minds too,
I believe.
Speaker 3 (22:20):
Okay, so there's a good positive a rural confidence survey
from Rabobank. I'm just coming back to Hamilton where you're
based the White Cato. In fact, the wider North Island,
especially the west and northern parts, are in a drought.
You mentioned ten mills of rain overnight. It's not a
drought breaker, but it's a start. So are you seeing
dairy farmers drying off early?
Speaker 7 (22:41):
I think is a huge sort of drawing cares off
or going once a day. I think we're sort of
still waiting for that rain to come. We had a
couple of really good seasons with supplements, so there's still
plinging your supplement on hand. So I guess with the
reasoning solid payout, still it makes economic sense to be
(23:02):
put a little bit more feed in Jamie. So, but
we don't get rained sooner than the forecast, i'd imagine
to see we'll start seeing people drawing off.
Speaker 3 (23:10):
Just a final one for you. A bit later in
the show, we're going to be chatting to Andy Borland,
who used to be the chair of Rabobank. I know
you know him well now. I know that you're a
tertiary educated man. You don't get to be the GM
of a Rabobank or for country banking without a good,
solid degree behind you. Were you Were you a Lincoln
guy or a Massy guy?
Speaker 7 (23:30):
No, No, I had quite good marks, Jamie, so I
got him too, Messy.
Speaker 3 (23:33):
That's a bit of a cheap shot. I was going
to ask you if you went to Lincoln. Of course,
there's a rugby reunion coming up, and I know you're
a very keen rugby man.
Speaker 7 (23:42):
Yeah. Yeah, I certainly heard a wee bit about that.
It'll be good to watch on the sidelines, I guess.
But I do have a connection with Lincoln. My daughter
actually started Lincoln this year, so she went against her
mother and I and decided to skip Messy and head
to Lincoln.
Speaker 3 (23:58):
Good honor. Indeed, Lincoln's doing very well. More than five
thousand students in fact, might be five and a half
thousand students on campus and online. So that's a damn
fine result for a university that a few years ago
was in deep trouble. More about that Lincoln rugby reunion
Lincoln College Rugby reunion a bit later in the hour.
But Bruce Ware GM for Country Banking for Rabobank, thanks
(24:20):
for some of your time from Sydney today.
Speaker 7 (24:22):
You think jmy not chet.
Speaker 3 (24:27):
Good morning. My name's Jamie McKay. You are worth the
best of the country. It's brought to you by Rabobank.
You've just heard from Bruce Ware on the farmer Confidence survey.
Up next, Andy balland talking about that Lincoln rugby reunion.
Andy is of course a former chair of Rabobank. These
days managing director of Scales Court, one of our biggest
(24:48):
horticulture company. Scott his views also on the PM's trade
delegation to India and what tariff free apples could mean
for New Zealand horticulture. We're going to wrap it with
Miles Furrel. Miles Furrel, try that again, Miles Hurrell. Fon Terras,
don't say it too quickly. Chief executive, who said on
Thursday's show he was bloody proud of the co op's
(25:09):
excellent half year result. Now before I forget talking about Rabobank,
they're running a wonderful community initiative at the moment. It's
the rabo Community Hub competition running for the first time
this year. The competition provides entrance with a chance to
win five grand to go towards the improvement of their
rural community hall. Clubrooms could be the footy clubrooms or
(25:30):
your MARAA. Twenty winners will be selected from across the country.
They'll each receive five grand of funding to help upgrade
their rural community hub. To find out more, go to
the rabobank website rabobank dot co dot nz. Up next,
Andy Borland.
Speaker 2 (25:49):
The best of the country with Rabobank, the bank with
local agri banking experts passionate about the future of rural communities.
Speaker 3 (25:57):
Rabobank and who wears quite a few hats in a
agriculture in the primary sector. His name is Andy Borland.
He's the managing director of Scales Corp. Their chair Mike
Peterson is in India with the Prime Minister at the moment.
He's a former chair of rabobank and for the purposes
of this interview, Andy, you are one of the organizers
of the Lincoln College Rugby Football Club reunion for all
(26:21):
those you and me included who played footy for Lincoln
College before it became Lincoln University in nineteen ninety. Tell
us all about it.
Speaker 8 (26:31):
Yeah, thanks, Jamie Nook. We were talking to a group
of us, were talking in the Lincoln College, if you like,
went without saying goodbye. So we decided we'd get the
title the Last Autumn Muster Reunion for all of those
rugby players and you know, men and woman that played
for Lincoln and still around from the late fifties right
(26:53):
through to that ninety ninety change over. So there's a
fair group of them. All teams are obviously welcome, from
the hard case social teams right through to the first fifteen.
So and you know we're excited to, I guess get
them all together to celebrate and acknowledge old times. But yeah, clearly,
being the president of the Lincoln Lincoln University Rugby Football Club,
(27:17):
I've got a bit of a mandate to try and
find them a bit of funding every now and then.
So we're going to raise a bit of money with
the ticket, but also some really cool option items, Jamie.
Speaker 3 (27:28):
And over the years, Lincoln College, these days Lincoln University
had some great rugby teams and some great rugby players.
Lots of All Blacks played for Lincoln College, and I
think I turned up there in nineteen eighty two as
a dip agger. You were there as a youngster doing
a commerce degree. But I think the year before us,
the nineteen eighty one Lincoln First fifteen as it was
(27:51):
in those days, was arguably one of the best rugby
teams the college that ever put out.
Speaker 8 (27:57):
Oh for sure, and they won the Crosiers competition that year.
They had Craig Green, Albi Anderson, Bruce Dean's I wouldn't
miss any out, but there was a hell of a
lot of them. We're in and around the All Blacks
or Canterbury and they were a very good site.
Speaker 3 (28:14):
Yeah, and a guy called Dave White who probably should
have been on All Black.
Speaker 8 (28:18):
Yeah, he was him and Albert Anderson is luck. You
couldn't get better. I wouldn't have thought.
Speaker 3 (28:22):
Okay, So how does the weekend pan out?
Speaker 4 (28:26):
Yeah?
Speaker 8 (28:26):
Well, look for the real Keen get down here on Thursday,
get the christ which on Thursday, and there's an evening
function there at the high school Old Boys Club. The
Andy Owen sort of knows those guys that have welcomed
us in and let us make a bit of money
on anything we sell. But the main function is the
next day, the Friday night, twenty third of May, where
(28:48):
we've got a function from about four o'clock at the
Hornby Workingmen's Club. There's a big room there which we'll
have a few beers and a few yarns and also
have a meal and here from some hard case you know,
colleagues and older students and are going to sort of
run a prize auction system as well. So it should
(29:10):
be fun.
Speaker 3 (29:10):
Now on Saturday to get along and support the current team.
Speaker 8 (29:14):
Sure, on Saturday, there's a lot to see out at
Lincoln for those that haven't been around. The rebuild has
been incredible what they've done out there. They've just recommissioned
Memorial Hall. There's there's it's worth going out for sure.
So there'll be a tour of the university on the
Saturday of the twenty fourth, and you know, we'll give
you a tend's brief lunch and then we're off to
(29:37):
watch the rugby, which is our club day for the
for the year, so we all most of the teams
are playing out there, so it would be great for
the older guys and girls to see see how the
teams are performing.
Speaker 3 (29:48):
Now yew on Sunday, you just lock your ounds and
go home. So how do you register for they?
Speaker 8 (29:54):
Well, you can link on the the Lincoln University Alumni
website or just a fe and came to google, you know,
Lincoln College Rugby Football Club Reunion. That will take you
straight to the portal and you can you know, you
fill the foreman and send your money and you're all
set to go. It's not a simple process. I'm not
an it genius myself, but I managed to get through it.
Speaker 6 (30:16):
Yeah.
Speaker 3 (30:16):
Well, I'm as thick as to planks when it comes
to it. And I just googled Lincoln College Rugby Football
Club Reunion and there you go, all the informations in
front of you. Talk to me, put on your scales
hat managing director. Of course, you're our biggest apple exporter
in this country. I think I'm right in saying that,
aren't I.
Speaker 8 (30:34):
Andy pretty close to it.
Speaker 3 (30:35):
Yeah, okay, So how's Mike Petterson getting on in India
with the PM.
Speaker 8 (30:40):
Well, we haven't heard from him, but it was good
of he's and when he was special endboy for the
Trade Ministers back in the day, I'm talking about like
sem or eight years ago, maybe ten. He toured the
world with like Sir Mike Grocer and those guys, and
he went in there a lot, and you know, he
knows a lot about that part of you know, how
(31:00):
those trade deals work. So it was logical for Mike
to go when we scale's got an invitation by mister Apple,
so to send Mic up there is credibly experienced and yeah,
we're hoping for a good outcome for the accctor.
Speaker 3 (31:16):
At the moment, your tariff on apples is something like
forty nine percent. And I was talking to Todd McLay
about this yesterday, and I know you heard that interview. Look,
if we could get zero tariffs on say lamb and horticulture,
that would be a great result.
Speaker 7 (31:30):
Ah.
Speaker 8 (31:31):
Sure, I mean it's a fast growing economy. I think
it's the world's largest population now. They certainly have a need,
like in their apples sense that their apple crop gets
absolutely cleaned out, eaten, So there's no sort of great,
big cool stores processes taking them through for twelve months.
So they need the import apples to fill in that
(31:53):
part of the season. So it's a great opportunity for
us to you know to we're selling all our varieties
into and do INDIEIR and it's.
Speaker 10 (32:00):
A great market.
Speaker 3 (32:01):
Hey, Andy Ball and MD of Scales Corp. Great to
have you on the show today. Remember if you want
to go to the Lincoln College Rugby Football Club reunion,
just google it. It'll take you straight there and you
can register. You're a born and bred Southlander like me. Andy,
I'll see you at Duck Shooting.
Speaker 8 (32:18):
Hey, thanks very much, Jamie, I really appreciate it.
Speaker 1 (32:20):
The best of the country with Rubbobak.
Speaker 2 (32:23):
Choose the bank with one hundred and twenty years global
agribusiness experience grow with Rubbobak.
Speaker 3 (32:29):
Reports an increase net profit and interim dividend. That is
the headline I read this morning on business desk. To
run us through the numbers, the chief executive Miles Hurrell
Myles were all these sort of in line with market expectations.
Speaker 10 (32:43):
Yeah, good eving, Jamie. Are they're on line with probably
the expectations that we put out a week or ten
days ago when we increased our guidance. So as we
went to close out the half year, the numbers that
it became obvious to us that actually we'd had a
very good half year and therefore the full year was
a little but under cooked in terms of the guidance
we had out there. So it's the reason we came
to market. So not not a jar from we were
(33:05):
ten days ago, but from where we opened the season
on the back of a pretty low milk price last year,
through a ten dollars milk price this year and then
guidance at fifty five to seventy five. It's a pretty
good result from the team and I'm bloody.
Speaker 3 (33:18):
Proud of it. Well, so you should be. Let's have
a look at some of these numbers. Let's crunch the numbers,
the forecast milk price. You've just narrowed the band down there,
it's now between nine seventy and ten thirty ten dollars
miles hurrales locked and loaded there.
Speaker 10 (33:32):
Yeah, I mean it's a few months ago before we
close the books completely endo July, but we feel confident
as we sit here today. You know, milk milk's up
across the country. Not we're seeing that it's pretty dry
at the moment, but milk milk's still up across the country,
and you know, buyers know that, and so we just
need to keep an eye on that a little bit
and make sure that it's sort of doesn't catch us
out at the last hurdle. But as we sit here today,
(33:52):
ten bucks teen bucks looks a pretty solid position for us.
Speaker 3 (33:56):
Yet, just on those milk volumes, is the North Island
drought not going to take its to time there?
Speaker 4 (34:01):
Well?
Speaker 10 (34:01):
Interesting enough, milk's still holding up, which suggests to me
there's obviously but a supplementary feed going and I guess
at ten dollars, farmers will make their own calls on that,
so you know, it's certainly not coming off at the
rate we would have historically, that feed will get to
a point where it just doesn't work economically and farmers
will make the call and we'll see it. We'll set
up peel off quite quickly. But as we're cilly today
(34:22):
and it's holding up pretty well all things considered.
Speaker 3 (34:25):
Fonterra Farmer shareholders get paid in two different ways. One
is for the milk price, the other one is the
dividend on their co op shares. Now the interim dividend
is twenty two cents per share, up from fifteen cents
last year. But the differences and this is only half
your dividend, well, this is tax paid.
Speaker 10 (34:43):
Yeah, fully impewed it to twenty two cents versus last
year's fifteen. I mean, I guess the headline number is
their fifteen last year to close on thirty or thirty
and a half cents if you'd talk of tax paid position.
So I guess that's a reflection of that our tax
losses that we had accumulated over many years are no
longer and so so farmers should see that as a
positive that twenty two cents tax paid is a great position.
Speaker 3 (35:05):
Now you're going to smash the record for the best
dividend because the previous best by my reckoning anyhow, was
fifty five cents last season. Of course that wasn't tax paid,
So you're going to beat that comfortably.
Speaker 10 (35:19):
Well, that's certainly the aim, and our team's got the
shoulders of the wheel over the next few months to
ensure we do close out the year in a positive fashion.
And we sit here today feeling good about that. But
you know, you only have to pick up any of
the newspapers on Maintrei media to see some of the
macroeconomic positions that are out there, that duopolitics that are
in play, and so we need to watch that carefully.
We've never god it very well today and see no
(35:40):
reason why we can't into the future. But you were
in a different world than we were a few years ago,
that's for sure.
Speaker 3 (35:45):
I see the ingredients business has an increased profit. That's wonderful.
Your consumer channel, this is the one that you're going
to flag off. Sales grew by eight point five percent.
Are you sure you should be selling the smiles?
Speaker 10 (35:58):
Well, I mean the headline number, it is a good
there's a good number of revenues up, gross margins. I
mean those are good news stories, of course when you
look at it from just those two metrics alone. But again,
it all comes back to that return on capital we've
talked previously. You know, it's about a three point four
percent of three or four billion or other capital tied
up in that consumer business. So it needs to return
(36:20):
significantly more than that to even keep pace with our
ingredients or even our food service business. And so yes,
at the headline number looks like it's heading in the
right direction, But you know, we're a long long way
off where I believe we need to get to from
a respectable turn from a farmer's perspective, And therefore, it
is the right time to think of other new ownership
structures out there. Hence the reason we're going hard out
(36:41):
on both trade sale and and IPO as we speak a.
Speaker 3 (36:43):
Wee bit earlier this morning, I had a look at
your share price four dollars ninety four as a yield.
It's not a bad investment, you find ter of shares
these days.
Speaker 10 (36:51):
Yeah, Well, the sheepross will be what the seer pros
will be, and my farmers will determine that because they
obviously sell amongst themselves, sell them buy and sell them themselves,
but obviously deliver the results that you've seen today. And
hopefully that gives some confidence and momentum to farmers to
take up those years. But they'll make their own course.
But you're pleasing to see the momentum in that regard.
Speaker 3 (37:12):
John Keith famously said new Zealand goes where Fontira goes.
Maybe we're getting back to those heady days.
Speaker 10 (37:19):
Well, I mean it is pleasing in New Zealand, as
we all know, economically struggling along a little bit at
the moment, and so to see the New Zealand aery
industry and Fonterira a sort of helping it and doing
its part. I mean, that's great news for us and
finally maybe a farmer will get some other recognition that
they deserve.
Speaker 3 (37:36):
Miles Hurrell, thanks for your time. Congratulations to you, Peter
McBride and all the team at Fonterra. This is a
great result.
Speaker 10 (37:42):
Great thanks for musch Jomy. Talk you soon.
Speaker 2 (37:44):
The best of the country with Rabobank. Choose the bank
with a huge network of progressive farming clients.
Speaker 3 (37:50):
Rabobank, Miles Hurrell wrapping the best of the Country. It's
brought to you by Rabobank. I'm Jamie Mackay. Catch yourself time,
same place next Saturday morning. Go my Highlanders this afternoon
against the Reds. Gonna leave you with Kate Bush and
Peter Gabriel used to be the lead singer for Genesis
(38:12):
before he left the band and left the singing to
Phil Collins, go the Landers.
Speaker 11 (38:22):
Lest your head.
Speaker 8 (38:26):
You worry too much.
Speaker 11 (38:30):
It's gonna be ol right well, time scared, cancel, corder
to give lease, still give.
Speaker 12 (38:50):
Up God a fee agty you kidding more? You're gonna
stand on that bridge, gem up stand below? What have
(39:13):
the may come?
Speaker 1 (39:15):
I wanted a may go that we.
Speaker 12 (39:24):
Bad rivers Snow moved on to another tone, tried hard
to settle down.
Speaker 1 (39:37):
Forever your John. So many men, so many men no
long needs.
Speaker 11 (39:49):
Do kill because you have? You gill her, You're not
the only one. Don't kill up no reason to be
(40:12):
a ship. Don't kill up you still have, or don't
give up Now we'll brown who you don't kill up.
Speaker 8 (40:35):
You know it's no
Speaker 4 (40:39):
Easy
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