When it comes to budgeting on farm and forecasting spend, how do others do this? In this podcast episode we talk to DairyNZ’s Head of Economics Mark Storey and South Waikato dairy farmer Louise Collingwood about the latest economic insights and newly updated DairyNZ Econ Tracker tool. We’ll discuss their perspective on how the Econ Tracker can be used to support informed decision making when it comes to financial planning, forecasting and budgeting, and how the new update explores farm and sector economic data, including historical trends and new season forecasts.
Chapters
0:00 - Intro
0:07 - Overview of speakers and discussion points
1:00 - Welcome and overview of Mark Storey’s background and career
2:35 - Current economic climate update
3:35 - Introduction to Louise and overview of her background and farm
5:11 - Current financial climate for Louise
9:58 - Historical trends and forecasting with the Econ Tracker
12:13 - Tools for budgeting and forecasting
14:00 - Variability between farms
15:15 - Looking ahead to the next season
16:28 - Louise’s focus on farm for the season ahead
17:38 - Outlook for the season ahead
18:17 - Thank you and episode summary