Good news for dairy cockies. Good news for rural New Zealand. Good for all New Zealanders in two years' time.
But for Cullen's incompetence which drove up the exchange rate on the back of userous interest rates, the pay out might have been closer to $8.00 per kilo.
You see, dear readers, every one cent movement in the exchange rate changes the dairy pay out by ten cents per kilo, either way. It's a fair bet that a good chunk of this years sales will have been hedged at over 75 cents. Just imagine how well off we might all be if we were back at 60 pr 65 cents, with interest rates at 6 or 7 percent. That's the real price we have paid for Cullens uncontrolled increases in gummint spending and his outrageous election bribes which he intends to repeat in his next budget - if he lasts that long.
2 hours ago