February 18, 2025 • 6 mins
Federated Farmers' president comments on the industry-good body's latest (very positive) farmer confidence survey and the continuation of the bank enquiry.
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Episode Transcript
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Speaker 1 (00:00):
Let's welcome on to the country. Kick it off with
Wayne Langford, President of Federated Farmers and Yolo. Your latest
farmer confidence surveys pretty good news, good afternoon.
Speaker 2 (00:09):
Yeah, so Jamie, a good way wake up this morning
and a good result. We've put a lot of a
lot of work into what we call restoring farmer confidence
over the last eighteen months and we're starting to see
the initial signs of that coming through.
Speaker 1 (00:23):
Was this survey conducted before or after the announcements around emissions?
Speaker 2 (00:29):
Yeah, this one. This one came after that, so there
may be some fly on effect for there. I think
the government will admit the way they did that announcement
was wrong and it certainly added a lot of confusion
to a number of farmer's plates, that's for sure.
Speaker 1 (00:44):
Well, what's the feedback you're getting from farmers on the
ground about the Paris climbate the court?
Speaker 2 (00:49):
Oh, certainly our maintain Wall Council, you know, particularly our
sheep farmers are certainly upset with it. I've literally just
come out of an hour long session of what was
two hours actually we had our first hour with Blame
mcnehme from agris Aero and then we had our second
hour with Minister Watts, which our meet and will counsel
our elected members from across the country rarely challenged them
(01:12):
both on where they're going, what the direction of travel was,
and most of all are you or are you not
planting all our farmland and pine trees? And so from
some really solid questions as really proud of it of
the men ladies that ask the questions.
Speaker 1 (01:26):
Well, Minster Watts has gone as low as he can
with the new targets for twenty thirty five. But I mean,
let's take it back a step. The twenty to thirty
targets aren't realistic.
Speaker 2 (01:36):
We're not going to hurt them, so yeah, so the
domestic targets we can have, but yeah, the twenty two
target is definitely not achievable, you know, and so but
moving the targets to where they are now he thinks
of his productions of the twenty thirty five targets will
be achievable. So that's certainly what he was just feeding
(01:56):
back to the members. He was saying that that we're
on target to achieve the new targets through the work
that we're doing already and the work that will possibly
come into the future.
Speaker 1 (02:06):
If it isn't that crystal ball gozing. They're making a
lot of assumptions there around things like methane inhibitors and
vaccines and all that.
Speaker 2 (02:15):
That's right, but I guess you can't put that kind
of investment into those sort of things without the potential
of them coming up. We can't be spending a lot
of money trying to create them, and they're not accounting
for them along the other end. So, yes, those results
will rely on some of those things coming through and
what they'll look like, and whether or not farmers will
want to use them, and whether or not our consumers
(02:36):
will want them. That's a whole other question. But in
terms of budgeting out to the future, yes, there are
some assumptions that they'll be used as well.
Speaker 1 (02:42):
Okay, let's have a look at some of the key
numbers around your twice yearly survey, because from July twenty
twenty four when it was last take and you've had
a surge from a deeply deeply negative minus sixty six
to a net positive score of two percent in terms
of general economic can do what farmers think of them?
(03:02):
This marks the largest one off improvements since that question
was introduced in twenty sixteen. And while all this is wonderful,
the surge and positivity, we're only just in the positive,
which is a bit of a worry considering, you know,
the planets are aligning pretty well for farming at the moment.
Speaker 2 (03:20):
Yeah. Well, that's probably why I started with saying, hey,
this is a great result, and it's great to see
the mentality changing there slightly, but we're still worth some
work to do, and you're right, we're only I'm obviously
a dairy farmer. I'm coming off the back of quite
a tight payout last year and we're only just receiving
the milk check for this year now, and beef farmers
(03:41):
are just bringing in and our lamb prices are only
just starting to lift as well, so we're at the
start of it, you know. And my grandfather always said,
you know, don't spend the milk check until you've got it,
and we haven't quite got it, which means, you know,
the confidence isn't fully there, but it is certainly swinging
and it's certainly recognizing some of the changes I think
that are going on out They.
Speaker 1 (03:59):
Okay, so there was a sharp lift and profitability, but
once again, the rider on that one is fifty four
percent of farmers, so just over half of farmers are
now reporting making a profit. That means nearly half the
farmers in the country still aren't making a profit.
Speaker 2 (04:16):
Yeah, and again I think that's reflecting on where we're
coming from, the massive agricultural inflation that we've seen and
well and what will progress over the next year as
the higher market prices come in. So I'm hoping to
see improvement when we go to our next serve again
and hopefully, you know, more and more farmers into profit
and getting back to making money like they they should be.
Speaker 1 (04:39):
And I'm reading from the magnificent Federated Farmers press release.
My god, you've got a good press team there, Yolo.
Interest rates and banking issues have consistently been a top
concern for farmers, which is why I Federated Farmers fought
so hard for the banking inquiry. Now, did you have
something on that this morning?
Speaker 2 (04:57):
Yeah? Yeah, Richard mcinty are our spokesston on that are
presented to the Select Committee this morning. So you know,
there's the year's worth of work they're gone into forty
five minutes to represent our farmers there, and you know,
he did really well it's certainly got our points across
and some of the challenges that we're facing. And while
you know, we may be talking about half a percent
(05:19):
or a point here and a point there, that's a
massive difference in terms of our farmer of budgets and
overall profitability, and so we're pushing for everything we can
get and it'll be really interesting to see whether that
committee ends up at the end of the day.
Speaker 1 (05:32):
Now, I'm going to try and ask Andrew Murray this
one later on. Is Fonterira's new chief financial officer. I'm
not sure whether he's in a position to comment on
this one, but the low emissions incentive payments from Fonterra
announced yesterday all bet on a pretty small scale. Do
you think you'll qualify for any of them?
Speaker 2 (05:52):
Well, I'm a low input, low production farmer, so my
efficiency is an overly high. So long story short, no, no,
I won't.
Speaker 1 (06:02):
So tell me what sort of farmer would qualify.
Speaker 2 (06:06):
Typically a farmer without a lot of inputs, you know,
feeling probably a lower input type farmer, yeah, would higher
heattear production. So typically you know, the irrigated toype farmer
with the high high cal production. Yeah, I think we'll
be where it'll land up, but I haven't seen the
full figures to see whether it that'll sit.
Speaker 1 (06:26):
And do you remember Hanson the Three Brothers? I do?
Speaker 2 (06:29):
That was my? Yeah? That was that was one of those?
Speaker 1 (06:31):
Was that one of your favorite? Was that one of
your favorite songs?
Speaker 2 (06:34):
At my high school distion? Just go, I thank you?
I think how I remember that one.
Speaker 1 (06:39):
I wouldn't admit bet if I was you anyhow, Hey, good,
good to have you on. And you guys at Federated
Farmers keep up the good job going into bat for Farmers.
We appreciate it.
Speaker 2 (06:51):
Yeah, I appreciate you time. Thanks Jamie,
Let's welcome on to the country. Kick it off with
Wayne Langford, President of Federated Farmers and Yolo. Your latest
farmer confidence surveys pretty good news, good afternoon.
Speaker 2 (00:09):
Yeah, so Jamie, a good way wake up this morning
and a good result. We've put a lot of a
lot of work into what we call restoring farmer confidence
over the last eighteen months and we're starting to see
the initial signs of that coming through.
Speaker 1 (00:23):
Was this survey conducted before or after the announcements around emissions?
Speaker 2 (00:29):
Yeah, this one. This one came after that, so there
may be some fly on effect for there. I think
the government will admit the way they did that announcement
was wrong and it certainly added a lot of confusion
to a number of farmer's plates, that's for sure.
Speaker 1 (00:44):
Well, what's the feedback you're getting from farmers on the
ground about the Paris climbate the court?
Speaker 2 (00:49):
Oh, certainly our maintain Wall Council, you know, particularly our
sheep farmers are certainly upset with it. I've literally just
come out of an hour long session of what was
two hours actually we had our first hour with Blame
mcnehme from agris Aero and then we had our second
hour with Minister Watts, which our meet and will counsel
our elected members from across the country rarely challenged them
(01:12):
both on where they're going, what the direction of travel was,
and most of all are you or are you not
planting all our farmland and pine trees? And so from
some really solid questions as really proud of it of
the men ladies that ask the questions.
Speaker 1 (01:26):
Well, Minster Watts has gone as low as he can
with the new targets for twenty thirty five. But I mean,
let's take it back a step. The twenty to thirty
targets aren't realistic.
Speaker 2 (01:36):
We're not going to hurt them, so yeah, so the
domestic targets we can have, but yeah, the twenty two
target is definitely not achievable, you know, and so but
moving the targets to where they are now he thinks
of his productions of the twenty thirty five targets will
be achievable. So that's certainly what he was just feeding
(01:56):
back to the members. He was saying that that we're
on target to achieve the new targets through the work
that we're doing already and the work that will possibly
come into the future.
Speaker 1 (02:06):
If it isn't that crystal ball gozing. They're making a
lot of assumptions there around things like methane inhibitors and
vaccines and all that.
Speaker 2 (02:15):
That's right, but I guess you can't put that kind
of investment into those sort of things without the potential
of them coming up. We can't be spending a lot
of money trying to create them, and they're not accounting
for them along the other end. So, yes, those results
will rely on some of those things coming through and
what they'll look like, and whether or not farmers will
want to use them, and whether or not our consumers
(02:36):
will want them. That's a whole other question. But in
terms of budgeting out to the future, yes, there are
some assumptions that they'll be used as well.
Speaker 1 (02:42):
Okay, let's have a look at some of the key
numbers around your twice yearly survey, because from July twenty
twenty four when it was last take and you've had
a surge from a deeply deeply negative minus sixty six
to a net positive score of two percent in terms
of general economic can do what farmers think of them?
(03:02):
This marks the largest one off improvements since that question
was introduced in twenty sixteen. And while all this is wonderful,
the surge and positivity, we're only just in the positive,
which is a bit of a worry considering, you know,
the planets are aligning pretty well for farming at the moment.
Speaker 2 (03:20):
Yeah. Well, that's probably why I started with saying, hey,
this is a great result, and it's great to see
the mentality changing there slightly, but we're still worth some
work to do, and you're right, we're only I'm obviously
a dairy farmer. I'm coming off the back of quite
a tight payout last year and we're only just receiving
the milk check for this year now, and beef farmers
(03:41):
are just bringing in and our lamb prices are only
just starting to lift as well, so we're at the
start of it, you know. And my grandfather always said,
you know, don't spend the milk check until you've got it,
and we haven't quite got it, which means, you know,
the confidence isn't fully there, but it is certainly swinging
and it's certainly recognizing some of the changes I think
that are going on out They.
Speaker 1 (03:59):
Okay, so there was a sharp lift and profitability, but
once again, the rider on that one is fifty four
percent of farmers, so just over half of farmers are
now reporting making a profit. That means nearly half the
farmers in the country still aren't making a profit.
Speaker 2 (04:16):
Yeah, and again I think that's reflecting on where we're
coming from, the massive agricultural inflation that we've seen and
well and what will progress over the next year as
the higher market prices come in. So I'm hoping to
see improvement when we go to our next serve again
and hopefully, you know, more and more farmers into profit
and getting back to making money like they they should be.
Speaker 1 (04:39):
And I'm reading from the magnificent Federated Farmers press release.
My god, you've got a good press team there, Yolo.
Interest rates and banking issues have consistently been a top
concern for farmers, which is why I Federated Farmers fought
so hard for the banking inquiry. Now, did you have
something on that this morning?
Speaker 2 (04:57):
Yeah? Yeah, Richard mcinty are our spokesston on that are
presented to the Select Committee this morning. So you know,
there's the year's worth of work they're gone into forty
five minutes to represent our farmers there, and you know,
he did really well it's certainly got our points across
and some of the challenges that we're facing. And while
you know, we may be talking about half a percent
(05:19):
or a point here and a point there, that's a
massive difference in terms of our farmer of budgets and
overall profitability, and so we're pushing for everything we can
get and it'll be really interesting to see whether that
committee ends up at the end of the day.
Speaker 1 (05:32):
Now, I'm going to try and ask Andrew Murray this
one later on. Is Fonterira's new chief financial officer. I'm
not sure whether he's in a position to comment on
this one, but the low emissions incentive payments from Fonterra
announced yesterday all bet on a pretty small scale. Do
you think you'll qualify for any of them?
Speaker 2 (05:52):
Well, I'm a low input, low production farmer, so my
efficiency is an overly high. So long story short, no, no,
I won't.
Speaker 1 (06:02):
So tell me what sort of farmer would qualify.
Speaker 2 (06:06):
Typically a farmer without a lot of inputs, you know,
feeling probably a lower input type farmer, yeah, would higher
heattear production. So typically you know, the irrigated toype farmer
with the high high cal production. Yeah, I think we'll
be where it'll land up, but I haven't seen the
full figures to see whether it that'll sit.
Speaker 1 (06:26):
And do you remember Hanson the Three Brothers? I do?
Speaker 2 (06:29):
That was my? Yeah? That was that was one of those?
Speaker 1 (06:31):
Was that one of your favorite? Was that one of
your favorite songs?
Speaker 2 (06:34):
At my high school distion? Just go, I thank you?
I think how I remember that one.
Speaker 1 (06:39):
I wouldn't admit bet if I was you anyhow, Hey, good,
good to have you on. And you guys at Federated
Farmers keep up the good job going into bat for Farmers.
We appreciate it.
Speaker 2 (06:51):
Yeah, I appreciate you time. Thanks Jamie,
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