Divestment means Fonterra can focus on its strengths
OPINION: Fonterra's board has certainly presented us, as shareholders, with a major issue to consider.
FEDERATED FARMERS Dairy chairman Andrew Hoggard has described the lowest auction in five years as "a blow to the industry" as hopes of a lift or at least continued plateau in prices were dashed.
"We will wait with anticipation for Fonterra's board meeting in December when they will review the payout, but there'll be another GDT before then, so who knows."
Hoggard noted Prime Minister John Key's belief, voiced to Feds' National Council Wednesday morning despite the GDT news, that "GDT has bottomed out and we are likely to see things improve going forward."
But only a day later Finance Minister Bill English said falling dairy prices and low inflation would make returning to economic surplus challenging.
"It was clear from the G20 finance ministers' meeting in Brisbane [Nov 15-16] that growth remains elusive in Europe and more uncertainty in China is being reflected in some sharply lower commodity prices," he told an ASB business breakfast.
"Falls in global commodity prices such as oil, forestry and dairy, together with weak international consumer price inflation, are posing challenges for governments and central banks around the world... New Zealand is not immune to these global trends."
GDT price index fell 3.1% overall with powders plunging 5-6%.
Feds' West Coast provincial president, Katie Milne said Westland's payout forecast of $5.40-5.80/kgMS would be hard to hold with Westland selling more milk powder than anything else.
"Westland suppliers should be prepared that there may be a drop in the payout after the board meeting at the end of the month. However there's nothing wrong with living in hope, and if it does not drop we will all breathe a little easier."
Meat co-operative, Alliance has met with a group of farmer shareholders, who oppose the sale of a controlling stake in the co-op to Irish company Dawn Meats.
Rollovers of quad bikes or ATVs towing calf milk trailers have typically prompted a Safety Alert from Safer Farms, the industry-led organisation dedicated to fostering a safer farming culture across New Zealand.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
A group of Kiwi farmers are urging Alliance farmer-shareholders to vote against a deal that would see the red meat co-operative sell approximately $270 million in shares to Ireland's Dawn Meats.
In a few hundred words it's impossible to adequately describe the outstanding contribution that James Brendan Bolger made to New Zealand since he first entered politics in 1972.
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.
OPINION: Voting is underway for Fonterra’s divestment proposal, with shareholders deciding whether or not sell its consumer brands business.
OPINION: Politicians and Wellington bureaucrats should take a leaf out of the book of Canterbury District Police Commander Superintendent Tony Hill.