NZ drought, livestock slaughter to weigh on agriculture, RBNZ says

Wed, 13 Mar 2013

By Paul McBeth March 14 (BusinessDesk) - Arid conditions across the country that have led to a drought being declared in several North Island regions and kicked off early livestock slaughter threatens to derail agricultural production down the line, according to the Reserve Bank. The dry conditions are weighing on the primary sector, and are expected to lead to weaker milk production in the latter half of the dairy season, the central bank said in its March monetary policy statement. Because of that, animal slaughter is expected to increase...

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