February 14, 2025 • 40 mins
Jamie Mackay talks to Derek Daniell, Shane Jones, Ben Picton, and Professor Julian Paton.
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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
ACRI business experience.
Speaker 1 (00:06):
Grow with Rabobank.
Speaker 3 (00:37):
Good ay and good morning New Zealand. I'm Jamie McKay.
This is the best of the country. It's brought to
you by Rabobank. We're not only growing a better New
Zealand together, but Rabobank is right behind National Lamb Day yep,
which is today we celebrator we mark the anniversary of
the sailing ship Dunedin leaving Port Charmers with the first
(00:57):
frozen lamb shipment. Even though there was a lot more
mutton on board than lamb on this day way back
in eighteen eighty two, one hundred and forty three years ago.
As I said, five thousand carcasses on board, mainly mutton,
six hundred lamb. We also had pigs, hair, pheasant, turkey, chicken,
sheep tongues and two hundred and forty six kegs of butter. Now,
(01:18):
the great part of this story is of left Port
Charmers arrived in London ninety eight days later after an
air circulation problem in the frozen hold had to be
overcome en route, and only one carcass was deemed unfit
for sale. Great story the emergence the start of our
frozen meat export industry and our dairy industry. I guess
(01:40):
as well. Today I'm the best of the country. We
are going to have a yarn. In fact, it's a
two part interview with Derek Daniel, one of New Zealand's
leading sheep breeders. Found him on a ski slope in
Japan earlier in the week and we're going to talk
about sheep without wool and the state of the economy.
Shane Jones, the Prince of the Provinces. I caught up
with him in Tuesday this week up in Wellington for
(02:01):
the precursor to National Lamb Day. It was the parliamentarian
s barbacue on the Speaker's lawn. We're also going to
talk to Ben Picton from Rabobank, their senior economist about
Trump and tariffs. And this is one of the great
stories of the week. Professor Julian Peyton, the owner of
the country's oldest land rover, driving at the length of
the country to raise money for heart health research. All
(02:26):
that is on the Best of the Country. Here on
National Lamb Day, we'll be back with Derek Daniel.
Speaker 2 (02:40):
The Best of the Country with Rabobank. Choose the bank
with a huge network of progressive farming clients Rabobank.
Speaker 3 (02:47):
It is a story we've been following with a lot
of interest recently on the country. Yes, the advent, the popularity.
If you want of the self shedding sheep, you know
the ones you don't have to share. Well, one man
who who has always got an eye for the main
chance and has started breeding them, even though he is
one of the country's best known Romney breeders, Derek Daniel joins,
(03:08):
it's not from his wire rapper base, Derek, but from Japan,
where you're gallivanting around on some ski slopes. There must
be some money in those neody sheep.
Speaker 4 (03:18):
Well, of course there is, yeah, Well, and you save
a lot of money by farming the the she jb
But skin in Japan guaranteed snow and the cost of living.
The cost of skin here is about a third to
half of what it is in New Zealand. Accommodation is
so cheap food the ski area passes. It's amazingly cheap.
(03:41):
Japan has not had the inflation we've had in New Zealand. Yeah,
their expectations and their sense of entitlement has been just
hammered down by thirty five years of deflation.
Speaker 3 (03:54):
Is that a good or a bad thing? Though? Well,
deflation's not a good thing for an economy.
Speaker 4 (04:00):
Well, I don't know, I don't know. Inflation is not
a good thing, o gamie. I mean the minimum wage
going up forty eight percent in seven years, and why
do we have a minimum wage anyway? Has resulted Our
government at the moment is borrowing a million dollars an hour,
twenty four million a day to prop up an unsustainable economy.
(04:23):
They talk about sustainability in the environment, blah blah blah,
but they have not We have not got a sustainable
economy in New Zealand.
Speaker 3 (04:33):
We might come back to the economy if we get time.
Let's talk about these sheep. Because of the ram that
was sold and it took us all by surprise, even
the vendor, I think, twenty four and a half thousand dollars.
And it was a Wiltshire Exlana cross ram, born and
bred in Southam, where all the good sheep come from.
Derek does how does that breed.
Speaker 4 (04:55):
That comes from the all right, all right South How.
Speaker 3 (04:59):
Does that breed differ from your nudies.
Speaker 4 (05:03):
The Exelana is a breed very similar to what we
call the nudy that we've brought in via embryo and
seamen into New Zealand. The Woelschhire, of course, is the
shedding sheep that we have here in New Zealand. But
the Woolschire in New Zealand came from such a small
(05:23):
base four years in one ramp important in the nineteen
seventies bred up from there, and because it's been such
a small genetic base, breed us a bread back to
Coopworth's and other New Zealand breeds to get a bit
of genetic diversity, but then they put wall back on it.
The advantage of the nudies that we've got is that
(05:44):
they don't grow wool, and even our second cross three
quarters we call them Brazilians, seventy eight percent of the
Uhoggets did not require sharing, and so you get there
very quickly. You get to a point where you don't
have to bother about wool on your sheep. So I
(06:04):
think that's the advantage over that our Nudiess have over
the current wooch Shires in New Zealand.
Speaker 3 (06:12):
So you've got a foot on both camps effectively, because
you're still actively breeding wool or jewel purpose sheep at Yrary.
But are you just meeting farm and demand here effectively?
Speaker 4 (06:25):
Yeah, that's right. Look it's through the enthusiasm of Peter Sabon,
who's been with Wirary on and off for about twenty years,
more than twenty years, twenty two years. And he was
over in the UK and he was looking around at
all these sheep or the breeders that had these sheep,
and he said to me, Derek, that really is a
(06:47):
possibility here. I can see, he said to me, I
can see farmers in New Zealand going one of two ways,
going to the nudy type of sheep or staying with
wool at Werrary a big seller of the Warary romney.
And I still have faith in wool Jamie that Wolves
(07:09):
going to make it come back. In fact, I sold
war on contract with five dollars a kilo clean through
Wolves in New Zealand. And just how the day may
I put a dug in for John Matferda, the CEO
of Wolves, and ly do an amazing job. And I'm
also put a lot of faith in the new use
as the ball, which is the deconstruction and particles of
(07:32):
powder pigments, and that's coming along too, and there will
be a factory putting out some of that October November
this year they had to be operating.
Speaker 3 (07:45):
Derek Daniel on a ski slope in Japan talking about
sheep without wool in the State of the Economy. Part
two of that interviews up next. This is the Best
of the Country. It's brought to you by Rabobank. Before
the end of the hour, Shane Jones being picked on
in my favorite interview of the week, Professor Julian Hayton.
Speaker 5 (08:04):
Well, listen to the Ahara Hell Well, the best of
the country with Rubber Bank, the bank with local agribanking experts,
passionate about the future of rural communities.
Speaker 1 (08:16):
Rubber Bank.
Speaker 3 (08:17):
Now, you talked about deflation in the Japanese economy over
the past thirty years. Well, that's exactly what we've had
in the strong wool industry. I mean, we're crowing about
five dollars a kilogram clean, Derek, but I got that
in the nineteen eighties as a young farmer. Effectively, woll
needs to be ten bucks to make any impact.
Speaker 4 (08:38):
I totally agree with you. In fact, you know, ten
dollars plus. I would say that back in the nineteen
seventies w was effectively twenty dollars a kilo in today's money,
and inflation has been massive. People don't realize, like a house,
average house in New Zealand ninety seventy was eight thousand
(08:59):
and six. Now it's a hundred times high, one hundred
times high. I mean, it's just it just disrupts everything
we do and we're suffering from it in New Zealand
at the moment. So coming back to wool, yeah, it's
going to take technology to transform it into a different form,
so we're not comparing with synthetic fibers. And then I
think we have a viable industry and something that can
(09:22):
convert hill country farming of sheep into a more viable
and profitable option.
Speaker 3 (09:28):
Again, of course, Derek, that is if that hill country
is not all planted and pine trees.
Speaker 4 (09:35):
A look just rampant. I'm surrounded by pine trees now,
so I've got about a kilometer of grass boundary, and
then there's regen bush and so on, and yeah, honestly,
it's just going along so quickly, and the government, of course,
don't want to admit just how much land has gone
(09:55):
into pine trees or how much more it's going to
be planted next year, and how much has been planted
on a existing farms. They talk about two hundred and
seventy thousand hectares of new plant of farms that have
been converted, but what about all the planting has actually
happening on existing terms. And my guess is that land
news wise, forestryand news on it has gone from about
(10:18):
seven percent of our land area and it might be
getting up to nine percent. Now.
Speaker 3 (10:24):
Is the future of these wallless or shedding sheep along
the noody side of the breeding equation where they don't
grow wall to start with, because it is a bit unsightly.
I might be being a bit fussy here, but I've
seen paddocks where self shedding sheep have run around and
they're rather unbecoming.
Speaker 1 (10:42):
Derek, Oh, yeah, that's right.
Speaker 4 (10:45):
But jomie horses, cattle, deer or grow a winter coat
and they shed it and you don't really see it.
Speaker 6 (10:53):
Now.
Speaker 4 (10:54):
These noody sheep grow so little winter coat or birth
code when they're born as lambs that you don't see
it or you might see it slightly because it's white
against the grass, unlike dark here from other animals. But yeah,
it's not the unsightly type of animal that you're talking about.
Speaker 3 (11:17):
So we know that some of these self shedding sheep,
you know, for example, the Wiltshire, they're great meat breeds
as well. I assume the same applies to the nody.
Speaker 4 (11:25):
Yeah, of course we've done trials with half dross, actually
taken them through the slaughter. We did about five hundred
last year and compare them to one hundred and fifty romneys,
and they were ahead on every count in terms of
growth rate, in terms of yield, and yeah, the growth
(11:47):
rate post winning was terrific and really gave us confidence
we're onto a winner here.
Speaker 6 (11:54):
Now.
Speaker 4 (11:55):
Admittedly that's the first christ and you do get hybrid vigor,
but one of the few things you get for free,
so why not have it.
Speaker 3 (12:05):
Okay, regardless of the price of wool, you've got the
management side of sheep that grow, wool sharing, crutching, dagging, dipping,
fly strike, you name it. Could it be that these
self shedding or nude sheep will effectively outmode a wall
sheep simply for the reason that they're just much easier
to manage and lower cost.
Speaker 4 (12:28):
We saw us a lot of our genetics from a
guy named Hayden Bulley, which is a strange name for
someone who has nudy sheep, but he had half nudies
and half Romney's endless Rhymney had about six thousand sheep
altogether on lease land and he says the nudy sheep
created eighty percent less work and his way of building equity.
(12:51):
He had eighteen houses through villages in rural England the
last time I speak to him because orders some craziness
on leak. That's the way things work over there. But
it gave him time to look after his property, his houses,
and so he's gradually moved out of Romney's and gone
(13:12):
or nudy.
Speaker 3 (13:13):
Well, you are a rappa farmer's behave yourself. I know
there's a few of you over there, and I'd love
to say break a leg, but it's probably not a
good thing to say to a scare Hey, Derek Daniel,
thanks for some of your time.
Speaker 1 (13:23):
Thanks Jeremy, the pleasure, the best of the country with Rubbobank.
Speaker 2 (13:28):
Choose the bank with one hundred and twenty years global
acribusiness experience grow with Rubbobank.
Speaker 3 (13:33):
It was great yesterday at the National Lamb Day Barbecue
to catch up with Martua. Shane Jones, the Prince of
the Province is the minister of digging it up and
damming it up. He was biting into quite a few
lamb shops when I saw him before putting the bite
on his political foes in the house, putting them to
the sword later in the afternoon, Shane, good afternoon, And
(13:53):
I was in there at question time and I was
watching you in Winston and all your glory.
Speaker 6 (13:58):
Well, it's important that we bring liveliness and a level
of frizon, not friction, but excitement to the House because
politics has to be conducted in such a way that
it resonates with the garden variety. Qy And sadly you
missed my speech where I declared that I would be
(14:20):
tolerating no ideological gumfluff from the Greens as the development
and opening up further opportunities for fishing, for mining and
other kinds of expective activities because too many of our
young people are disappearing to Australia.
Speaker 3 (14:35):
Now I'm going to quote you, We're going to talk
about fishing in a moment. This is direct from your
speech now. As you know, I'm largely a doubting Thomas
about all the shrillness to do with climate change, but
I am a man of fidelity and I will remain
faithful to the position of the Cabinet that we must
find ways to adapt in terms of climate change challenges.
To do that, we need to rescue projects out of
(14:55):
the bog, out of the bureaucratic thicket so they can
be proved in a remarkably short period of time. You're
sounding a bit like Trump.
Speaker 6 (15:06):
Well, I want your listeners to be fair. We campaigned
in that vein my leader and myself and MB at
the moment are going through a process of consulting about
the twenty twenty two dead weight imposition of climate reporting
on two hundred financial bodies in New Zealand. It all
(15:28):
should be discretionary. If a bank whilst witter on about
climate change, and they should do it at their discretion,
at their cost, not because of a state fit. And
this is what was imposed by Jacinda and the Green Party,
and that's why our new anti woking bill against banks
and anti woke banking bill against those institutions is very important.
(15:53):
We're going to bring a holt to these luxury beliefs
that are blighting the lives of farmers, miners, fishing, people
in garden variety.
Speaker 1 (16:01):
Kiwi Oh and I'd.
Speaker 3 (16:02):
Support you on that, Matoa Shane. But will Christopher Luxen
will will your nemesis David Seymour support you on that?
Speaker 6 (16:10):
Well, he knows that climate change regulations, if they're not smart,
if they're not delivering an outcome that causes the boat
to go faster than it represents a threat to our government. Obviously, Nicola,
Finance Minister has said, look, well we'll have a look
(16:31):
at the bill if it's drawn from the Biscuit tim
but fifteen to eighteen months will pass very quickly, and
your listeners should know that our next election campaign is
going to be solidly winding back the unnecessary costs and
positions and other such metropolitan dreams that the farmers are
(16:52):
having imposed upon them by these microclan cyclists.
Speaker 3 (16:57):
Good work now. The PM's minders were none too please
with me yesterday when I raised the subject of David
seymour stunt in the series One land Rover. I think
you'll be a bit more forthcoming on that. What did
you make of it?
Speaker 4 (17:10):
Oh?
Speaker 6 (17:10):
Look, Jerry dealt with the issue in the House the
other day. David's apologized. Shane dern Hearne whatever his name was,
from Taranaki, he faced chargers and.
Speaker 7 (17:23):
I felt about our half of the fire.
Speaker 6 (17:25):
Who was the security guard to be impleasant on Television
one and various other parts of the media. But look,
David sort of stood down and he's apologized to the speaker.
I just know that had I have been in that
landra driving it, Winston would have made me a spare
(17:48):
wheel right there and there.
Speaker 3 (17:52):
How do you stay awake in Parliament, even though it
was quite raucous when we were in there for question
time yesterday? But I'm imagining if you're a backbench, especially
in opposition, it must be a dreary, dull life. And
even if you're a government back bench MP, you've got
to ask these terrible patsy questions. Did you ever have
to do that?
Speaker 6 (18:12):
Two thousand and five, I was in such a distant
location a set of verdoculars were needed for Michael Cullen
to see me, and I too had to stand and
ask a variety of questions. I tried to inject a
bit of humor and liveliness into them. But look, when
you're a backbencher, you're essentially a third former, and it's
an opportunity to learn the ranks, learn your way through
(18:33):
the ranks, and learn the processes of Parliament, learn the
standing orders, and practice, as John Key did, your ability
to stand and deliver a speech for five ten minutes
without notes because you're competent on your topic. But more importantly,
you're comfortable in your own skin.
Speaker 3 (18:51):
Now, talking about backbenches, I was over there later in
the evening having a few bears after a long, hard
day at the National Lambday barbecue, and of back benches
were there having a few beers, but they were all
scurrying back to the house. They had to be there
at seven thirty, with the notable exception of Judith Collins,
and she was sitting next to us on the next
(19:12):
table and I said, Judith, how come you're not going
back at seven point thirty And she just raised an
eyebrow and that was it. Does she march to the
beat of her own drum.
Speaker 6 (19:21):
She's an institution, just as Winston has gone got great
pedgree and caste along shadow, and no one should underestimate.
Judith has warned me, Look, Shane, you must not continue
spraying rhetoric as you've been doing in the past over
the courts and the judges. So this morning, after I
(19:42):
made my fishery's announcement, bindful of her advice, I went
and sprayed rhetoric over the Sea Shepherd vessel which is
going down from New Zealand to the Antarctica. And sadly
and Willow and Taranaki, they fell victim to misinformation saying
that there's not oceanic undersea mining in the world. There's
thousands and thousands of tons, and I just want to
(20:04):
get a bit of it for Tabanaki. Of course, there's
a few green, deluded souls up there who don't want it,
but their minority.
Speaker 3 (20:10):
Okay, let's just quickly cover off your big fishing announcement.
You're claiming this to be one of the biggest and
most transformative announcements since the quota system back in the eighties.
Speaker 6 (20:22):
Yes, we're going to increase the level of flexibility, reduce
the burden upon the fishing industry so they can get
out there, maintain their jobs, grow their businesses without too
much nitpicking bureaucracy. So these changes, they are broader, they
are more comprehensive than anything that's ever been introduced since
(20:44):
the quota system was shuffle shepherded forward by Colin Moyle.
I think a name from the past in David Longing's government,
but a it's a consultation document. There will be a
few people who disagree with me. I understand Greenpeace and
others are meeting with the Prime Minister today. They have
regular catchups and I've got no time, as you know,
(21:07):
for Greenpeace and these other foreign alien influences undermining New
Zealand's fiscal solvency and regional New Zealand.
Speaker 3 (21:14):
Matua Shane Jones, the Prince of the province is the
minister of digging it up and damming it up. You
keep hauling those fish out of the sea and making
it easier for the fishing industry and more sustainable in
the process. Thanks for your time today.
Speaker 2 (21:27):
Can I see if I expire the best of the
country with Ravobank. Choose the bank for a huge network
of progressive farming clients.
Speaker 3 (21:35):
Ravo BANKDA and good morning New Zealand. I'm Jamie McKay.
You're listening to the best of the Country. It's brought
to you by Rabobank. We're growing a better New Zealand
together and Rabobank is right behind National Lamb Day today,
one hundred and forty three years on from the birth
(21:58):
of our frozen meat export industry. These days, of course,
it's all chilled. Hey, up next on the best of
the Country out of Rabobank. They're Sydney based senior economists.
Ben Picton on this week's ocr announcement and the latest
report from rabobank on Trump and his tariffs. Favorite interview
of the week though, I'm going to finish with that one,
(22:18):
Professor Julian Peyton, owner of the country's oldest land drover,
and that was of course in the news big time
this week when David Seymour tried to drive it up
the steps of Parliament. Hey, talking about Rabobank. Remember, Applications
are now open for Rabobank's two business management programs for
primary producers. The Farm Managers Program and the Executive Development
(22:42):
Program have been designed specifically for farmers across New Zealand
and Australia who are looking to take their business and
leadership to the next level. For more information, visit the
Rabobank website, rabobank dot co dot nz. That's a bit
of meat loaf for you today on National lamb Day.
Back with being picked in out of Sydney.
Speaker 1 (23:07):
The best of the country with Rabobank.
Speaker 2 (23:10):
The bank with local agri banking experts passionate about the
future of rural communities.
Speaker 1 (23:15):
Rabobank.
Speaker 3 (23:16):
He's hiding behind a tree in Sydney to keep out
of the wind to do this interview. Such is his
dedication to the cause. He's Rabobanks Chief Economists. Really, his
name is being picked in and Ben. Just before we
talk about your just release paper on Trump and tariffs,
we've got an OCR announcement a week today. What's the
Rabobank position on that one. Good afternoon, Good Jamie.
Speaker 7 (23:39):
Yes, we do have an ACR decision coming up, so
next Wednesday the Reserve Bank will tell us what they're
doing with the OCR. Rabobanks expectation on this one is
that we will see a half of percentage point cut
from the RBNZ. That was very much signaled by Adrien
Or late last year, and we think that the flow
of economic data that was since then is still supportive
(24:02):
of a half a percentage point cut.
Speaker 3 (24:04):
Well, the next question, the obvious one is how low
will it go.
Speaker 7 (24:08):
Our expectation is around about three point two five percent.
That's a little bit higher than what the futures market
is pricing. The futures is suggesting a terminal rate of
somewhere around about three percent, and that's pretty close to
what the rb and Z tells us is their estimate
of what they call the neutral rate, the point at
(24:29):
which monetary policy is not adding to or subtracting from inflation.
We think the neutral rate is actually a little bit higher,
and also that the RBNZ might leave a little bit
of restrictiveness in monetary policy just because of the uncertain
times that we live in. And that's why we think
three point twenty five is the final destination.
Speaker 3 (24:50):
Let's address the orange elephant in the room, no unintended
Donald Trump. Now some of his policies and we're going
to talk about tariffs could be deemed and flow. Is
there a chance that we may not get the lows
and interest rates that we expected because of Trump's policies.
Speaker 7 (25:08):
Well, it's a really complicated question because we've got no
doubt that the Trump policies are inflationary inside the United
States and The reason for that is that tariffs are
effectively a tax on consumption. They're increasing the cost of
imported goods for US consumers, so that's inflationary. It puts
the price up, but the effect on other countries is
(25:31):
less clear. Effectively, what they're trying to do is stop
buying as much from other countries. So maybe there's a
little bit less demand for our exports to the United States,
and potentially there's impacts from places like China not being
able to send as much into the USA, and therefore
they might divert some cheaper goods into places like New Zealand.
(25:55):
So in some ways the Trump tariffs might actually be
disinflationary New Zealand.
Speaker 3 (26:00):
Interesting, righty, let's have a look at the effects, because
this is what are you just released reporters on Trump tariffs,
the implications for New Zealand and Australia. I've just jumped
off a plane being I've only speed read this, so
you're going to have to be gentle with me here,
talk me through it.
Speaker 7 (26:16):
Yeah, So we had a look at what the Trump
tariffs might mean for Australia and New Zealand. Effectively, there's
the argument that we're making is that we're living in
changing time. So we've become accustomed to thirty or forty
years of increased trade liberalization, neoliberalism, more and more globalization,
(26:37):
and that has brought down the cost of moving capital
and goods around the world, so that we had this big,
I guess prosperity dividend from the end of the Cold
War where goods prices came down and we had rising prosperity,
particularly in the West. Now, what we're seeing at the
moment is a genuine challenger to the United States in
(27:01):
the form of China, and the US is kind of
responding to that by fighting fire with fire. To some extent,
they're adopting economic policies that look very similar to the
policies that China uses so effectively. How we see that
is the tide going out a little bit on this
era of increased globalization, and that probably means more cost
(27:27):
and more friction in global trade, and that's sort of
structurally inflationary around the world, and a little bit of
a concern for countries like New Zealand, which are very
dependent on international trade for our prosperity.
Speaker 3 (27:42):
What about sweetheart deals, Yeah, there is a.
Speaker 7 (27:46):
Little bit of I guess potential for sweetheart deals, but
it's going to take some really adroit diplomacy from politicians
to make that work. So we've seen just recently the
announcement of twenty five percent tariffs on steel and aluminium
imports into the United States, and the Australian Prime Minister
(28:07):
picked up the phone quite quickly to Donald Trump and
suggested that Australia should be exempt because the US actually
runs a trade surplus with Australia and therefore it's not
really in their interest to tariff Australia. Now New Zealand's
in a slightly different position because New Zealand actually sends
more to the United States than what the US sends
(28:29):
to New Zealand. And also New Zealand spends a lot
less on defense than what Australia or the United States does,
and we know that Donald Trump is quite keen to
force allies to contribute more to the cost of international defense.
So New Zealand's hand is maybe a little bit weaker
than Australia's, but even Australia is maybe not in the
(28:53):
strongest bargaining position.
Speaker 3 (28:54):
Well from a New Zealand point of view, the US
is now our second biggest trading partner behind China. It's
now our biggest market for the likes of red meat
and wine. Tariffs are going to be bad news for US.
Speaker 7 (29:08):
Yeah, well, tariffs are certainly not good when you're when
you're a small, open economy that depends on free trade,
and both Australia and New Zealand they are in that position.
I would suggest that New Zealand is a bit more
trade exposed than what Australia is, and that's the nature
of how the economy works. So New Zealand tends to
prosper in periods of increased trade liberalization and finds going
(29:32):
a little bit more tough when protectionism becomes a bit
more of a theme. So yes, there's certainly concerns around
protein exports and wine exports to the United States. But
what I would say is that with commodity type products
like proteins, water tends to find its own level to
some degree. So if we're not sending as much into
(29:54):
the United States, then typically they'll be substituting somebody else
in and then and then our products maybe find their
way to a different market. What I would say as
well is that the United States doesn't produce enough beef
on its own to satisfy its demand, so it needs
to get the beef from somewhere, and it's probably not
in their interest to just stick an import tax on
(30:18):
something that they can't supply themselves domestically.
Speaker 3 (30:20):
Yeah, and we all know Trump loves Hamburgers. Look ben
picked and you can get out from behind that tree
in a windy Sidney. Thanks for your time today on
the Country, Pleasure Jamie.
Speaker 7 (30:29):
Thanks for having me on the Best of.
Speaker 1 (30:31):
The Country with Rubbobak.
Speaker 2 (30:33):
Choose the bank with one hundred and twenty years global
agribusiness experience, grow with Rubbobank.
Speaker 3 (30:38):
I've been trying to track this man down all week.
He's a very busy man and the reason he's been
hard to get a hold of is because he hasn't
been in mobile reception areas, because he's been driving the
backblocks of New Zealand and the Series one land Rover
the length of the country almost to raise money for
heart health. His name is Professor Julian Payton. Of course,
on Monday his publicity went through the roof when David
(31:02):
Seymour decided Julian to drive your land Driver or attempt
to drive it up the steps of Parliament. And what
do they say about publicity, All publicity's good publicity.
Speaker 8 (31:13):
Well, thank you Jamie very much for the opportunity to
join your show. Yes Monday was an interesting day in
the life of my life and also the life of
the land Rover. I would like to just start by
saying that, of course this land Rover, it's the twentieth
land Rover ever made, the twentieth production land Rover.
Speaker 7 (31:32):
It's the first.
Speaker 8 (31:33):
Land rover that came to New Zealand, was first to registered.
Thirty first of August nineteen forty eight, came into Wellington
and it came in as a single vehicle as a
demonstrator from the Rover Company. And one of the demonstrations
that it did was to drive up Parliament steps. That
was back in nineteen forty eight, and the reason for
(31:54):
that was, of course, you have to bear in mind
at that time the only four wheel drive vehicles were military.
This was the first Cevillian vehicle farm vehicle that was
four wheel drive. And so being a demonstrator, what great
publicity it must have been in the day to drive
this vehicle up those steps. And so the idea for
(32:15):
us was since we were coming through Wellington, was to
park it and potentially drive up the steps. That was
the request that I put forward to my local MP,
and that went through Parliament Security and the Speaker made
a decision that we could park next to the steps
(32:36):
but not drive on the steps, which was still I
suppose something we really wanted to do, because it'd be
lovely for us to have got then photographs of it
park next to those famous steps. In the back of
twenty on the day on Monday, we had a couple
of ramps, and so what we were going to do
is we were going to place these ramps just ahead
(32:58):
of the first step. I've the land rover up those
ramps to get the land rover looking as if it
was about to go up the steps, and that would
have made it a little bit more realistic. So the
bottom line here is that on the Monday morning, as
we're coming over on the picton to Wellington Ferry, we
had no intention I had no intention of driving it
(33:18):
up the steps.
Speaker 3 (33:20):
Well, it hasn't done your fundraising calls any harm politically.
People may or may not agree with that. Look, I'm
fascinated by what you're doing. A professor Julian Peyton because
I grew up on a farm and I cut my teeth,
learned to drive on an old Series one land Driver.
Magnificent old vehicles, but they don't go very fast.
Speaker 8 (33:40):
No, they weren't designed to go super fast. But of
course back in nineteen forty eight motorcars didn't go very
fast either. So the land rover runs it around forty
forty five miles and now it's got a sixteen hundred
cc engine in it. It was built for farmers, so
it was designed to go over fields on tracks, you
(34:01):
wouldn't want the speed. What you actually want in off
road conditions is talk. You want the ability to be
at a climb hill, so it's fitted with a low
range gearbox. You want the ability to go through water,
so the engine is hoisted quite high underneath the bonnet.
It's very well sprung, and I can assure you that
(34:23):
although we've pen over a lot of bumps, it is
actually quite a comfortable car to drive. So no, speed
was definitely not the main thing around a land Rover.
I think the versatility of the vehicle. It's fitted with
a power takeoff a unit on the back so you
can drive farm implements either stationary such as a bench
(34:44):
saw or a hay turner or a baler or whatever.
You know, this vehicle, land Rover was the first four
by four in the country, in the world, let's put
it that way before, of course the next one, which
was the Toyota land Cruiser, a good four boy four.
But the land Rover was way ahead of its time.
(35:07):
And there's no doubt that this vehicle. And we I
can testify this because I've met so many people as
we've driven up through the country who have come out
of their houses. They've waved us down, they've stopped us,
they want to look at twenty and they've told us
old dad or granddad had an old land rover on
the farm and he used it for fencing, or he
(35:27):
used it to take the sheep into market, or he
used it to round up the sheep. This, that and
the other. And the bottom line here is is that
the land rover has been an instrumental vehicle for the
development of agriculture in New Zealand. It really has gone
places that no other vehicle has gone before.
Speaker 3 (35:49):
Hey, just to finish up with I could check to
you all day. Unfortunately I haven't got time for that.
But you're a napier. You're making your way to Auckland.
When do you get there? And how much money do
you hope to raise for Heartel?
Speaker 8 (36:00):
Yeah, we're in Apia to date. Tonight today we go
to Lake Tapo and then tomorrow Lake Tapo to Hamilton,
and then on Sunday we're leaving Hamilton land Rover Dealership
at nine o'clock and we will be relaying through Hampton
Down and there will be a convoy from Hamilton on
(36:23):
Sunday morning to Hampton Down and then we relay through
Hampton Down for Auckland and hope to get to Auckland
sometime just after lunch on Sunday afternoon. If all goes well,
we're aiming to raise three hundred thousand dollars. We are
approaching fifteen percent of our way there, so there's still
quite a bit of still quite a bit to raise,
(36:45):
but I'm still optimistic we'll hit that target, given the
fact that we've yet to get to Hamilton. Yet to
get to Auckland, and believe there'll be a lot of
people there that will be willing to support our cause.
Speaker 3 (36:55):
Professor Julian Payton lovely to check to you and congratulations
on buying and driving the twentieth ever made landrover from
Otago up to Auckland. Thanks for your time.
Speaker 4 (37:08):
Thank you very much.
Speaker 8 (37:08):
Jamie really appreciate this opportunity.
Speaker 2 (37:11):
The best of the country with Rabobank. Choose the bank
with a huge network of progressive farming clients.
Speaker 3 (37:17):
Rabobank Professor Julian Peyton wrapping the best of the country.
What a great story buying the twentieth landrover ever made
and driving at the length of the country via the
steps of Parliament to raise money for heart health research.
Good morning, my name's Jamie McKay. The best of the
(37:38):
Country's brought to you by Rabobank. We're growing a better
New Zealand together and Rabobank is right behind National Lamb Day.
Get your chops around a lamb shop today and support
our farmers. That is me done on dust that old
Catch you back, same time, same place next Saturday morning
on National Lamb Day. I'm going to leave you with
(37:58):
a bit of meat loaf.
Speaker 1 (38:01):
Will you never me?
Speaker 3 (38:02):
Will you make me go happen for the rest of
my life? Where you take me away, where you make
me over? I gotta know.
Speaker 9 (38:11):
Then, got me going the birthday and love me?
Speaker 4 (38:13):
Tell me lit for over.
Speaker 3 (38:17):
What's it gonna be?
Speaker 1 (38:19):
Come on, I can wait all night.
Speaker 8 (38:22):
What's it gonna be? Yes or no? What's it gonna
be boy?
Speaker 1 (38:26):
Yes or no?
Speaker 10 (38:31):
Then well I'm a sleeper by one else, run on
an I gotta know now where you're waiting the day? Leon,
will you never need spons.
Speaker 7 (38:55):
Go? We going to birth and day?
Speaker 4 (38:57):
Love where you're loving for.
Speaker 1 (39:03):
Let me see, Boni.
Speaker 9 (39:04):
When you're looking for lemacy for it when you're looking
for it.
Speaker 1 (39:08):
I wouldn't pay it, and.
Speaker 7 (39:09):
I got a dot.
Speaker 9 (39:10):
I would craiz, and then a feeling came upon me
like a time. We start explaining till I got out
on my mother's bad and I would love it Tolly
in no time, that's form.
Speaker 1 (39:19):
I would love it Tony in no time.
Speaker 4 (39:24):
You So now I'm.
Speaker 9 (39:25):
Praying Bonny in those time, hurry bad who since I
gotta spend another many with you. I don't think that
I can really survive.
Speaker 3 (39:36):
I never break my palmas.
Speaker 9 (39:37):
I'm go get myself.
Speaker 1 (39:39):
We got re what I could.
Speaker 9 (39:41):
Turn now praying body in no time that's all that
I can't do. Radbody in the time, iet.
Speaker 1 (39:51):
In my time with you included the municipal bust Aspe
The best of the country with Rabobank.
Speaker 2 (00:02):
Choose the bank with one hundred and twenty years global
ACRI business experience.
Speaker 1 (00:06):
Grow with Rabobank.
Speaker 3 (00:37):
Good ay and good morning New Zealand. I'm Jamie McKay.
This is the best of the country. It's brought to
you by Rabobank. We're not only growing a better New
Zealand together, but Rabobank is right behind National Lamb Day yep,
which is today we celebrator we mark the anniversary of
the sailing ship Dunedin leaving Port Charmers with the first
(00:57):
frozen lamb shipment. Even though there was a lot more
mutton on board than lamb on this day way back
in eighteen eighty two, one hundred and forty three years ago.
As I said, five thousand carcasses on board, mainly mutton,
six hundred lamb. We also had pigs, hair, pheasant, turkey, chicken,
sheep tongues and two hundred and forty six kegs of butter. Now,
(01:18):
the great part of this story is of left Port
Charmers arrived in London ninety eight days later after an
air circulation problem in the frozen hold had to be
overcome en route, and only one carcass was deemed unfit
for sale. Great story the emergence the start of our
frozen meat export industry and our dairy industry. I guess
(01:40):
as well. Today I'm the best of the country. We
are going to have a yarn. In fact, it's a
two part interview with Derek Daniel, one of New Zealand's
leading sheep breeders. Found him on a ski slope in
Japan earlier in the week and we're going to talk
about sheep without wool and the state of the economy.
Shane Jones, the Prince of the Provinces. I caught up
with him in Tuesday this week up in Wellington for
(02:01):
the precursor to National Lamb Day. It was the parliamentarian
s barbacue on the Speaker's lawn. We're also going to
talk to Ben Picton from Rabobank, their senior economist about
Trump and tariffs. And this is one of the great
stories of the week. Professor Julian Peyton, the owner of
the country's oldest land rover, driving at the length of
the country to raise money for heart health research. All
(02:26):
that is on the Best of the Country. Here on
National Lamb Day, we'll be back with Derek Daniel.
Speaker 2 (02:40):
The Best of the Country with Rabobank. Choose the bank
with a huge network of progressive farming clients Rabobank.
Speaker 3 (02:47):
It is a story we've been following with a lot
of interest recently on the country. Yes, the advent, the popularity.
If you want of the self shedding sheep, you know
the ones you don't have to share. Well, one man
who who has always got an eye for the main
chance and has started breeding them, even though he is
one of the country's best known Romney breeders, Derek Daniel joins,
(03:08):
it's not from his wire rapper base, Derek, but from Japan,
where you're gallivanting around on some ski slopes. There must
be some money in those neody sheep.
Speaker 4 (03:18):
Well, of course there is, yeah, Well, and you save
a lot of money by farming the the she jb
But skin in Japan guaranteed snow and the cost of living.
The cost of skin here is about a third to
half of what it is in New Zealand. Accommodation is
so cheap food the ski area passes. It's amazingly cheap.
(03:41):
Japan has not had the inflation we've had in New Zealand. Yeah,
their expectations and their sense of entitlement has been just
hammered down by thirty five years of deflation.
Speaker 3 (03:54):
Is that a good or a bad thing? Though? Well,
deflation's not a good thing for an economy.
Speaker 4 (04:00):
Well, I don't know, I don't know. Inflation is not
a good thing, o gamie. I mean the minimum wage
going up forty eight percent in seven years, and why
do we have a minimum wage anyway? Has resulted Our
government at the moment is borrowing a million dollars an hour,
twenty four million a day to prop up an unsustainable economy.
(04:23):
They talk about sustainability in the environment, blah blah blah,
but they have not We have not got a sustainable
economy in New Zealand.
Speaker 3 (04:33):
We might come back to the economy if we get time.
Let's talk about these sheep. Because of the ram that
was sold and it took us all by surprise, even
the vendor, I think, twenty four and a half thousand dollars.
And it was a Wiltshire Exlana cross ram, born and
bred in Southam, where all the good sheep come from.
Derek does how does that breed.
Speaker 4 (04:55):
That comes from the all right, all right South How.
Speaker 3 (04:59):
Does that breed differ from your nudies.
Speaker 4 (05:03):
The Exelana is a breed very similar to what we
call the nudy that we've brought in via embryo and
seamen into New Zealand. The Woelschhire, of course, is the
shedding sheep that we have here in New Zealand. But
the Woolschire in New Zealand came from such a small
(05:23):
base four years in one ramp important in the nineteen
seventies bred up from there, and because it's been such
a small genetic base, breed us a bread back to
Coopworth's and other New Zealand breeds to get a bit
of genetic diversity, but then they put wall back on it.
The advantage of the nudies that we've got is that
(05:44):
they don't grow wool, and even our second cross three
quarters we call them Brazilians, seventy eight percent of the
Uhoggets did not require sharing, and so you get there
very quickly. You get to a point where you don't
have to bother about wool on your sheep. So I
(06:04):
think that's the advantage over that our Nudiess have over
the current wooch Shires in New Zealand.
Speaker 3 (06:12):
So you've got a foot on both camps effectively, because
you're still actively breeding wool or jewel purpose sheep at Yrary.
But are you just meeting farm and demand here effectively?
Speaker 4 (06:25):
Yeah, that's right. Look it's through the enthusiasm of Peter Sabon,
who's been with Wirary on and off for about twenty years,
more than twenty years, twenty two years. And he was
over in the UK and he was looking around at
all these sheep or the breeders that had these sheep,
and he said to me, Derek, that really is a
(06:47):
possibility here. I can see, he said to me, I
can see farmers in New Zealand going one of two ways,
going to the nudy type of sheep or staying with
wool at Werrary a big seller of the Warary romney.
And I still have faith in wool Jamie that Wolves
(07:09):
going to make it come back. In fact, I sold
war on contract with five dollars a kilo clean through
Wolves in New Zealand. And just how the day may
I put a dug in for John Matferda, the CEO
of Wolves, and ly do an amazing job. And I'm
also put a lot of faith in the new use
as the ball, which is the deconstruction and particles of
(07:32):
powder pigments, and that's coming along too, and there will
be a factory putting out some of that October November
this year they had to be operating.
Speaker 3 (07:45):
Derek Daniel on a ski slope in Japan talking about
sheep without wool in the State of the Economy. Part
two of that interviews up next. This is the Best
of the Country. It's brought to you by Rabobank. Before
the end of the hour, Shane Jones being picked on
in my favorite interview of the week, Professor Julian Hayton.
Speaker 5 (08:04):
Well, listen to the Ahara Hell Well, the best of
the country with Rubber Bank, the bank with local agribanking experts,
passionate about the future of rural communities.
Speaker 1 (08:16):
Rubber Bank.
Speaker 3 (08:17):
Now, you talked about deflation in the Japanese economy over
the past thirty years. Well, that's exactly what we've had
in the strong wool industry. I mean, we're crowing about
five dollars a kilogram clean, Derek, but I got that
in the nineteen eighties as a young farmer. Effectively, woll
needs to be ten bucks to make any impact.
Speaker 4 (08:38):
I totally agree with you. In fact, you know, ten
dollars plus. I would say that back in the nineteen
seventies w was effectively twenty dollars a kilo in today's money,
and inflation has been massive. People don't realize, like a house,
average house in New Zealand ninety seventy was eight thousand
(08:59):
and six. Now it's a hundred times high, one hundred
times high. I mean, it's just it just disrupts everything
we do and we're suffering from it in New Zealand
at the moment. So coming back to wool, yeah, it's
going to take technology to transform it into a different form,
so we're not comparing with synthetic fibers. And then I
think we have a viable industry and something that can
(09:22):
convert hill country farming of sheep into a more viable
and profitable option.
Speaker 3 (09:28):
Again, of course, Derek, that is if that hill country
is not all planted and pine trees.
Speaker 4 (09:35):
A look just rampant. I'm surrounded by pine trees now,
so I've got about a kilometer of grass boundary, and
then there's regen bush and so on, and yeah, honestly,
it's just going along so quickly, and the government, of course,
don't want to admit just how much land has gone
(09:55):
into pine trees or how much more it's going to
be planted next year, and how much has been planted
on a existing farms. They talk about two hundred and
seventy thousand hectares of new plant of farms that have
been converted, but what about all the planting has actually
happening on existing terms. And my guess is that land
news wise, forestryand news on it has gone from about
(10:18):
seven percent of our land area and it might be
getting up to nine percent. Now.
Speaker 3 (10:24):
Is the future of these wallless or shedding sheep along
the noody side of the breeding equation where they don't
grow wall to start with, because it is a bit unsightly.
I might be being a bit fussy here, but I've
seen paddocks where self shedding sheep have run around and
they're rather unbecoming.
Speaker 1 (10:42):
Derek, Oh, yeah, that's right.
Speaker 4 (10:45):
But jomie horses, cattle, deer or grow a winter coat
and they shed it and you don't really see it.
Speaker 6 (10:53):
Now.
Speaker 4 (10:54):
These noody sheep grow so little winter coat or birth
code when they're born as lambs that you don't see
it or you might see it slightly because it's white
against the grass, unlike dark here from other animals. But yeah,
it's not the unsightly type of animal that you're talking about.
Speaker 3 (11:17):
So we know that some of these self shedding sheep,
you know, for example, the Wiltshire, they're great meat breeds
as well. I assume the same applies to the nody.
Speaker 4 (11:25):
Yeah, of course we've done trials with half dross, actually
taken them through the slaughter. We did about five hundred
last year and compare them to one hundred and fifty romneys,
and they were ahead on every count in terms of
growth rate, in terms of yield, and yeah, the growth
(11:47):
rate post winning was terrific and really gave us confidence
we're onto a winner here.
Speaker 6 (11:54):
Now.
Speaker 4 (11:55):
Admittedly that's the first christ and you do get hybrid vigor,
but one of the few things you get for free,
so why not have it.
Speaker 3 (12:05):
Okay, regardless of the price of wool, you've got the
management side of sheep that grow, wool sharing, crutching, dagging, dipping,
fly strike, you name it. Could it be that these
self shedding or nude sheep will effectively outmode a wall
sheep simply for the reason that they're just much easier
to manage and lower cost.
Speaker 4 (12:28):
We saw us a lot of our genetics from a
guy named Hayden Bulley, which is a strange name for
someone who has nudy sheep, but he had half nudies
and half Romney's endless Rhymney had about six thousand sheep
altogether on lease land and he says the nudy sheep
created eighty percent less work and his way of building equity.
(12:51):
He had eighteen houses through villages in rural England the
last time I speak to him because orders some craziness
on leak. That's the way things work over there. But
it gave him time to look after his property, his houses,
and so he's gradually moved out of Romney's and gone
(13:12):
or nudy.
Speaker 3 (13:13):
Well, you are a rappa farmer's behave yourself. I know
there's a few of you over there, and I'd love
to say break a leg, but it's probably not a
good thing to say to a scare Hey, Derek Daniel,
thanks for some of your time.
Speaker 1 (13:23):
Thanks Jeremy, the pleasure, the best of the country with Rubbobank.
Speaker 2 (13:28):
Choose the bank with one hundred and twenty years global
acribusiness experience grow with Rubbobank.
Speaker 3 (13:33):
It was great yesterday at the National Lamb Day Barbecue
to catch up with Martua. Shane Jones, the Prince of
the Province is the minister of digging it up and
damming it up. He was biting into quite a few
lamb shops when I saw him before putting the bite
on his political foes in the house, putting them to
the sword later in the afternoon, Shane, good afternoon, And
(13:53):
I was in there at question time and I was
watching you in Winston and all your glory.
Speaker 6 (13:58):
Well, it's important that we bring liveliness and a level
of frizon, not friction, but excitement to the House because
politics has to be conducted in such a way that
it resonates with the garden variety. Qy And sadly you
missed my speech where I declared that I would be
(14:20):
tolerating no ideological gumfluff from the Greens as the development
and opening up further opportunities for fishing, for mining and
other kinds of expective activities because too many of our
young people are disappearing to Australia.
Speaker 3 (14:35):
Now I'm going to quote you, We're going to talk
about fishing in a moment. This is direct from your
speech now. As you know, I'm largely a doubting Thomas
about all the shrillness to do with climate change, but
I am a man of fidelity and I will remain
faithful to the position of the Cabinet that we must
find ways to adapt in terms of climate change challenges.
To do that, we need to rescue projects out of
(14:55):
the bog, out of the bureaucratic thicket so they can
be proved in a remarkably short period of time. You're
sounding a bit like Trump.
Speaker 6 (15:06):
Well, I want your listeners to be fair. We campaigned
in that vein my leader and myself and MB at
the moment are going through a process of consulting about
the twenty twenty two dead weight imposition of climate reporting
on two hundred financial bodies in New Zealand. It all
(15:28):
should be discretionary. If a bank whilst witter on about
climate change, and they should do it at their discretion,
at their cost, not because of a state fit. And
this is what was imposed by Jacinda and the Green Party,
and that's why our new anti woking bill against banks
and anti woke banking bill against those institutions is very important.
(15:53):
We're going to bring a holt to these luxury beliefs
that are blighting the lives of farmers, miners, fishing, people
in garden variety.
Speaker 1 (16:01):
Kiwi Oh and I'd.
Speaker 3 (16:02):
Support you on that, Matoa Shane. But will Christopher Luxen
will will your nemesis David Seymour support you on that?
Speaker 6 (16:10):
Well, he knows that climate change regulations, if they're not smart,
if they're not delivering an outcome that causes the boat
to go faster than it represents a threat to our government. Obviously, Nicola,
Finance Minister has said, look, well we'll have a look
(16:31):
at the bill if it's drawn from the Biscuit tim
but fifteen to eighteen months will pass very quickly, and
your listeners should know that our next election campaign is
going to be solidly winding back the unnecessary costs and
positions and other such metropolitan dreams that the farmers are
(16:52):
having imposed upon them by these microclan cyclists.
Speaker 3 (16:57):
Good work now. The PM's minders were none too please
with me yesterday when I raised the subject of David
seymour stunt in the series One land Rover. I think
you'll be a bit more forthcoming on that. What did
you make of it?
Speaker 4 (17:10):
Oh?
Speaker 6 (17:10):
Look, Jerry dealt with the issue in the House the
other day. David's apologized. Shane dern Hearne whatever his name was,
from Taranaki, he faced chargers and.
Speaker 7 (17:23):
I felt about our half of the fire.
Speaker 6 (17:25):
Who was the security guard to be impleasant on Television
one and various other parts of the media. But look,
David sort of stood down and he's apologized to the speaker.
I just know that had I have been in that
landra driving it, Winston would have made me a spare
(17:48):
wheel right there and there.
Speaker 3 (17:52):
How do you stay awake in Parliament, even though it
was quite raucous when we were in there for question
time yesterday? But I'm imagining if you're a backbench, especially
in opposition, it must be a dreary, dull life. And
even if you're a government back bench MP, you've got
to ask these terrible patsy questions. Did you ever have
to do that?
Speaker 6 (18:12):
Two thousand and five, I was in such a distant
location a set of verdoculars were needed for Michael Cullen
to see me, and I too had to stand and
ask a variety of questions. I tried to inject a
bit of humor and liveliness into them. But look, when
you're a backbencher, you're essentially a third former, and it's
an opportunity to learn the ranks, learn your way through
(18:33):
the ranks, and learn the processes of Parliament, learn the
standing orders, and practice, as John Key did, your ability
to stand and deliver a speech for five ten minutes
without notes because you're competent on your topic. But more importantly,
you're comfortable in your own skin.
Speaker 3 (18:51):
Now, talking about backbenches, I was over there later in
the evening having a few bears after a long, hard
day at the National Lambday barbecue, and of back benches
were there having a few beers, but they were all
scurrying back to the house. They had to be there
at seven thirty, with the notable exception of Judith Collins,
and she was sitting next to us on the next
(19:12):
table and I said, Judith, how come you're not going
back at seven point thirty And she just raised an
eyebrow and that was it. Does she march to the
beat of her own drum.
Speaker 6 (19:21):
She's an institution, just as Winston has gone got great
pedgree and caste along shadow, and no one should underestimate.
Judith has warned me, Look, Shane, you must not continue
spraying rhetoric as you've been doing in the past over
the courts and the judges. So this morning, after I
(19:42):
made my fishery's announcement, bindful of her advice, I went
and sprayed rhetoric over the Sea Shepherd vessel which is
going down from New Zealand to the Antarctica. And sadly
and Willow and Taranaki, they fell victim to misinformation saying
that there's not oceanic undersea mining in the world. There's
thousands and thousands of tons, and I just want to
(20:04):
get a bit of it for Tabanaki. Of course, there's
a few green, deluded souls up there who don't want it,
but their minority.
Speaker 3 (20:10):
Okay, let's just quickly cover off your big fishing announcement.
You're claiming this to be one of the biggest and
most transformative announcements since the quota system back in the eighties.
Speaker 6 (20:22):
Yes, we're going to increase the level of flexibility, reduce
the burden upon the fishing industry so they can get
out there, maintain their jobs, grow their businesses without too
much nitpicking bureaucracy. So these changes, they are broader, they
are more comprehensive than anything that's ever been introduced since
(20:44):
the quota system was shuffle shepherded forward by Colin Moyle.
I think a name from the past in David Longing's government,
but a it's a consultation document. There will be a
few people who disagree with me. I understand Greenpeace and
others are meeting with the Prime Minister today. They have
regular catchups and I've got no time, as you know,
(21:07):
for Greenpeace and these other foreign alien influences undermining New
Zealand's fiscal solvency and regional New Zealand.
Speaker 3 (21:14):
Matua Shane Jones, the Prince of the province is the
minister of digging it up and damming it up. You
keep hauling those fish out of the sea and making
it easier for the fishing industry and more sustainable in
the process. Thanks for your time today.
Speaker 2 (21:27):
Can I see if I expire the best of the
country with Ravobank. Choose the bank for a huge network
of progressive farming clients.
Speaker 3 (21:35):
Ravo BANKDA and good morning New Zealand. I'm Jamie McKay.
You're listening to the best of the Country. It's brought
to you by Rabobank. We're growing a better New Zealand
together and Rabobank is right behind National Lamb Day today,
one hundred and forty three years on from the birth
(21:58):
of our frozen meat export industry. These days, of course,
it's all chilled. Hey, up next on the best of
the Country out of Rabobank. They're Sydney based senior economists.
Ben Picton on this week's ocr announcement and the latest
report from rabobank on Trump and his tariffs. Favorite interview
of the week though, I'm going to finish with that one,
(22:18):
Professor Julian Peyton, owner of the country's oldest land drover,
and that was of course in the news big time
this week when David Seymour tried to drive it up
the steps of Parliament. Hey, talking about Rabobank. Remember, Applications
are now open for Rabobank's two business management programs for
primary producers. The Farm Managers Program and the Executive Development
(22:42):
Program have been designed specifically for farmers across New Zealand
and Australia who are looking to take their business and
leadership to the next level. For more information, visit the
Rabobank website, rabobank dot co dot nz. That's a bit
of meat loaf for you today on National lamb Day.
Back with being picked in out of Sydney.
Speaker 1 (23:07):
The best of the country with Rabobank.
Speaker 2 (23:10):
The bank with local agri banking experts passionate about the
future of rural communities.
Speaker 1 (23:15):
Rabobank.
Speaker 3 (23:16):
He's hiding behind a tree in Sydney to keep out
of the wind to do this interview. Such is his
dedication to the cause. He's Rabobanks Chief Economists. Really, his
name is being picked in and Ben. Just before we
talk about your just release paper on Trump and tariffs,
we've got an OCR announcement a week today. What's the
Rabobank position on that one. Good afternoon, Good Jamie.
Speaker 7 (23:39):
Yes, we do have an ACR decision coming up, so
next Wednesday the Reserve Bank will tell us what they're
doing with the OCR. Rabobanks expectation on this one is
that we will see a half of percentage point cut
from the RBNZ. That was very much signaled by Adrien
Or late last year, and we think that the flow
of economic data that was since then is still supportive
(24:02):
of a half a percentage point cut.
Speaker 3 (24:04):
Well, the next question, the obvious one is how low
will it go.
Speaker 7 (24:08):
Our expectation is around about three point two five percent.
That's a little bit higher than what the futures market
is pricing. The futures is suggesting a terminal rate of
somewhere around about three percent, and that's pretty close to
what the rb and Z tells us is their estimate
of what they call the neutral rate, the point at
(24:29):
which monetary policy is not adding to or subtracting from inflation.
We think the neutral rate is actually a little bit higher,
and also that the RBNZ might leave a little bit
of restrictiveness in monetary policy just because of the uncertain
times that we live in. And that's why we think
three point twenty five is the final destination.
Speaker 3 (24:50):
Let's address the orange elephant in the room, no unintended
Donald Trump. Now some of his policies and we're going
to talk about tariffs could be deemed and flow. Is
there a chance that we may not get the lows
and interest rates that we expected because of Trump's policies.
Speaker 7 (25:08):
Well, it's a really complicated question because we've got no
doubt that the Trump policies are inflationary inside the United
States and The reason for that is that tariffs are
effectively a tax on consumption. They're increasing the cost of
imported goods for US consumers, so that's inflationary. It puts
the price up, but the effect on other countries is
(25:31):
less clear. Effectively, what they're trying to do is stop
buying as much from other countries. So maybe there's a
little bit less demand for our exports to the United States,
and potentially there's impacts from places like China not being
able to send as much into the USA, and therefore
they might divert some cheaper goods into places like New Zealand.
(25:55):
So in some ways the Trump tariffs might actually be
disinflationary New Zealand.
Speaker 3 (26:00):
Interesting, righty, let's have a look at the effects, because
this is what are you just released reporters on Trump tariffs,
the implications for New Zealand and Australia. I've just jumped
off a plane being I've only speed read this, so
you're going to have to be gentle with me here,
talk me through it.
Speaker 7 (26:16):
Yeah, So we had a look at what the Trump
tariffs might mean for Australia and New Zealand. Effectively, there's
the argument that we're making is that we're living in
changing time. So we've become accustomed to thirty or forty
years of increased trade liberalization, neoliberalism, more and more globalization,
(26:37):
and that has brought down the cost of moving capital
and goods around the world, so that we had this big,
I guess prosperity dividend from the end of the Cold
War where goods prices came down and we had rising prosperity,
particularly in the West. Now, what we're seeing at the
moment is a genuine challenger to the United States in
(27:01):
the form of China, and the US is kind of
responding to that by fighting fire with fire. To some extent,
they're adopting economic policies that look very similar to the
policies that China uses so effectively. How we see that
is the tide going out a little bit on this
era of increased globalization, and that probably means more cost
(27:27):
and more friction in global trade, and that's sort of
structurally inflationary around the world, and a little bit of
a concern for countries like New Zealand, which are very
dependent on international trade for our prosperity.
Speaker 3 (27:42):
What about sweetheart deals, Yeah, there is a.
Speaker 7 (27:46):
Little bit of I guess potential for sweetheart deals, but
it's going to take some really adroit diplomacy from politicians
to make that work. So we've seen just recently the
announcement of twenty five percent tariffs on steel and aluminium
imports into the United States, and the Australian Prime Minister
(28:07):
picked up the phone quite quickly to Donald Trump and
suggested that Australia should be exempt because the US actually
runs a trade surplus with Australia and therefore it's not
really in their interest to tariff Australia. Now New Zealand's
in a slightly different position because New Zealand actually sends
more to the United States than what the US sends
(28:29):
to New Zealand. And also New Zealand spends a lot
less on defense than what Australia or the United States does,
and we know that Donald Trump is quite keen to
force allies to contribute more to the cost of international defense.
So New Zealand's hand is maybe a little bit weaker
than Australia's, but even Australia is maybe not in the
(28:53):
strongest bargaining position.
Speaker 3 (28:54):
Well from a New Zealand point of view, the US
is now our second biggest trading partner behind China. It's
now our biggest market for the likes of red meat
and wine. Tariffs are going to be bad news for US.
Speaker 7 (29:08):
Yeah, well, tariffs are certainly not good when you're when
you're a small, open economy that depends on free trade,
and both Australia and New Zealand they are in that position.
I would suggest that New Zealand is a bit more
trade exposed than what Australia is, and that's the nature
of how the economy works. So New Zealand tends to
prosper in periods of increased trade liberalization and finds going
(29:32):
a little bit more tough when protectionism becomes a bit
more of a theme. So yes, there's certainly concerns around
protein exports and wine exports to the United States. But
what I would say is that with commodity type products
like proteins, water tends to find its own level to
some degree. So if we're not sending as much into
(29:54):
the United States, then typically they'll be substituting somebody else
in and then and then our products maybe find their
way to a different market. What I would say as
well is that the United States doesn't produce enough beef
on its own to satisfy its demand, so it needs
to get the beef from somewhere, and it's probably not
in their interest to just stick an import tax on
(30:18):
something that they can't supply themselves domestically.
Speaker 3 (30:20):
Yeah, and we all know Trump loves Hamburgers. Look ben
picked and you can get out from behind that tree
in a windy Sidney. Thanks for your time today on
the Country, Pleasure Jamie.
Speaker 7 (30:29):
Thanks for having me on the Best of.
Speaker 1 (30:31):
The Country with Rubbobak.
Speaker 2 (30:33):
Choose the bank with one hundred and twenty years global
agribusiness experience, grow with Rubbobank.
Speaker 3 (30:38):
I've been trying to track this man down all week.
He's a very busy man and the reason he's been
hard to get a hold of is because he hasn't
been in mobile reception areas, because he's been driving the
backblocks of New Zealand and the Series one land Rover
the length of the country almost to raise money for
heart health. His name is Professor Julian Payton. Of course,
on Monday his publicity went through the roof when David
(31:02):
Seymour decided Julian to drive your land Driver or attempt
to drive it up the steps of Parliament. And what
do they say about publicity, All publicity's good publicity.
Speaker 8 (31:13):
Well, thank you Jamie very much for the opportunity to
join your show. Yes Monday was an interesting day in
the life of my life and also the life of
the land Rover. I would like to just start by
saying that, of course this land Rover, it's the twentieth
land Rover ever made, the twentieth production land Rover.
Speaker 7 (31:32):
It's the first.
Speaker 8 (31:33):
Land rover that came to New Zealand, was first to registered.
Thirty first of August nineteen forty eight, came into Wellington
and it came in as a single vehicle as a
demonstrator from the Rover Company. And one of the demonstrations
that it did was to drive up Parliament steps. That
was back in nineteen forty eight, and the reason for
(31:54):
that was, of course, you have to bear in mind
at that time the only four wheel drive vehicles were military.
This was the first Cevillian vehicle farm vehicle that was
four wheel drive. And so being a demonstrator, what great
publicity it must have been in the day to drive
this vehicle up those steps. And so the idea for
(32:15):
us was since we were coming through Wellington, was to
park it and potentially drive up the steps. That was
the request that I put forward to my local MP,
and that went through Parliament Security and the Speaker made
a decision that we could park next to the steps
(32:36):
but not drive on the steps, which was still I
suppose something we really wanted to do, because it'd be
lovely for us to have got then photographs of it
park next to those famous steps. In the back of
twenty on the day on Monday, we had a couple
of ramps, and so what we were going to do
is we were going to place these ramps just ahead
(32:58):
of the first step. I've the land rover up those
ramps to get the land rover looking as if it
was about to go up the steps, and that would
have made it a little bit more realistic. So the
bottom line here is that on the Monday morning, as
we're coming over on the picton to Wellington Ferry, we
had no intention I had no intention of driving it
(33:18):
up the steps.
Speaker 3 (33:20):
Well, it hasn't done your fundraising calls any harm politically.
People may or may not agree with that. Look, I'm
fascinated by what you're doing. A professor Julian Peyton because
I grew up on a farm and I cut my teeth,
learned to drive on an old Series one land Driver.
Magnificent old vehicles, but they don't go very fast.
Speaker 8 (33:40):
No, they weren't designed to go super fast. But of
course back in nineteen forty eight motorcars didn't go very
fast either. So the land rover runs it around forty
forty five miles and now it's got a sixteen hundred
cc engine in it. It was built for farmers, so
it was designed to go over fields on tracks, you
(34:01):
wouldn't want the speed. What you actually want in off
road conditions is talk. You want the ability to be
at a climb hill, so it's fitted with a low
range gearbox. You want the ability to go through water,
so the engine is hoisted quite high underneath the bonnet.
It's very well sprung, and I can assure you that
(34:23):
although we've pen over a lot of bumps, it is
actually quite a comfortable car to drive. So no, speed
was definitely not the main thing around a land Rover.
I think the versatility of the vehicle. It's fitted with
a power takeoff a unit on the back so you
can drive farm implements either stationary such as a bench
(34:44):
saw or a hay turner or a baler or whatever.
You know, this vehicle, land Rover was the first four
by four in the country, in the world, let's put
it that way before, of course the next one, which
was the Toyota land Cruiser, a good four boy four.
But the land Rover was way ahead of its time.
(35:07):
And there's no doubt that this vehicle. And we I
can testify this because I've met so many people as
we've driven up through the country who have come out
of their houses. They've waved us down, they've stopped us,
they want to look at twenty and they've told us
old dad or granddad had an old land rover on
the farm and he used it for fencing, or he
(35:27):
used it to take the sheep into market, or he
used it to round up the sheep. This, that and
the other. And the bottom line here is is that
the land rover has been an instrumental vehicle for the
development of agriculture in New Zealand. It really has gone
places that no other vehicle has gone before.
Speaker 3 (35:49):
Hey, just to finish up with I could check to
you all day. Unfortunately I haven't got time for that.
But you're a napier. You're making your way to Auckland.
When do you get there? And how much money do
you hope to raise for Heartel?
Speaker 8 (36:00):
Yeah, we're in Apia to date. Tonight today we go
to Lake Tapo and then tomorrow Lake Tapo to Hamilton,
and then on Sunday we're leaving Hamilton land Rover Dealership
at nine o'clock and we will be relaying through Hampton
Down and there will be a convoy from Hamilton on
(36:23):
Sunday morning to Hampton Down and then we relay through
Hampton Down for Auckland and hope to get to Auckland
sometime just after lunch on Sunday afternoon. If all goes well,
we're aiming to raise three hundred thousand dollars. We are
approaching fifteen percent of our way there, so there's still
quite a bit of still quite a bit to raise,
(36:45):
but I'm still optimistic we'll hit that target, given the
fact that we've yet to get to Hamilton. Yet to
get to Auckland, and believe there'll be a lot of
people there that will be willing to support our cause.
Speaker 3 (36:55):
Professor Julian Payton lovely to check to you and congratulations
on buying and driving the twentieth ever made landrover from
Otago up to Auckland. Thanks for your time.
Speaker 4 (37:08):
Thank you very much.
Speaker 8 (37:08):
Jamie really appreciate this opportunity.
Speaker 2 (37:11):
The best of the country with Rabobank. Choose the bank
with a huge network of progressive farming clients.
Speaker 3 (37:17):
Rabobank Professor Julian Peyton wrapping the best of the country.
What a great story buying the twentieth landrover ever made
and driving at the length of the country via the
steps of Parliament to raise money for heart health research.
Good morning, my name's Jamie McKay. The best of the
(37:38):
Country's brought to you by Rabobank. We're growing a better
New Zealand together and Rabobank is right behind National Lamb Day.
Get your chops around a lamb shop today and support
our farmers. That is me done on dust that old
Catch you back, same time, same place next Saturday morning
on National Lamb Day. I'm going to leave you with
(37:58):
a bit of meat loaf.
Speaker 1 (38:01):
Will you never me?
Speaker 3 (38:02):
Will you make me go happen for the rest of
my life? Where you take me away, where you make
me over? I gotta know.
Speaker 9 (38:11):
Then, got me going the birthday and love me?
Speaker 4 (38:13):
Tell me lit for over.
Speaker 3 (38:17):
What's it gonna be?
Speaker 1 (38:19):
Come on, I can wait all night.
Speaker 8 (38:22):
What's it gonna be? Yes or no? What's it gonna
be boy?
Speaker 1 (38:26):
Yes or no?
Speaker 10 (38:31):
Then well I'm a sleeper by one else, run on
an I gotta know now where you're waiting the day? Leon,
will you never need spons.
Speaker 7 (38:55):
Go? We going to birth and day?
Speaker 4 (38:57):
Love where you're loving for.
Speaker 1 (39:03):
Let me see, Boni.
Speaker 9 (39:04):
When you're looking for lemacy for it when you're looking
for it.
Speaker 1 (39:08):
I wouldn't pay it, and.
Speaker 7 (39:09):
I got a dot.
Speaker 9 (39:10):
I would craiz, and then a feeling came upon me
like a time. We start explaining till I got out
on my mother's bad and I would love it Tolly
in no time, that's form.
Speaker 1 (39:19):
I would love it Tony in no time.
Speaker 4 (39:24):
You So now I'm.
Speaker 9 (39:25):
Praying Bonny in those time, hurry bad who since I
gotta spend another many with you. I don't think that
I can really survive.
Speaker 3 (39:36):
I never break my palmas.
Speaker 9 (39:37):
I'm go get myself.
Speaker 1 (39:39):
We got re what I could.
Speaker 9 (39:41):
Turn now praying body in no time that's all that
I can't do. Radbody in the time, iet.
Speaker 1 (39:51):
In my time with you included the municipal bust Aspe
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