Fonterra Whareroa sets cheese record, wins top award
Fonterra Whareroa wrapped up a successful season with a record-breaking cheese production volume and several gongs at the co-op's annual Best Site Cup awards.
Fonterra may need to provide additional support to cash-strapped farmers if the forecast milk price continues to fall.
However, another lift in the advance rate would be risky as Fonterra could end up overpaying farmer suppliers and be forced to claw back money.
Fonterra Co-operative Council has previously pushed hard for more cash to be returned to farmers quicker.
Council chair John Stevenson says, as a result, Fonterra changed its advance rate guidelines to pay farmers a higher percentage of the forecast milk price earlier.
But he adds that further increases to the advance rate would come with an increased risk of Fonterra over-paying if there are further declines in milk price.
This month, Fonterra shareholders received $6/kgMS as advance rate for milk supplied in July.
However, for the rest of the year, farmers can expect $5.25/kgMS in advance rate from Fonterra.
"There is a long way to go in the season yet," Stevenson told Dairy News.
"If we continue to see challenges aroun milk price then there will likely be increased calls for Fonterra to use the strength of its balance sheet to support its owners."
OPINION: Ministry for Primary Industries' situation outlook for primary industries report (SOPI) makes impressive reading.
Sheep and beef farmers Matt and Kristin Churchward say using artificial intelligence (AI) to spread fertiliser on their sprawling 630ha farm is a game changer for their business.
Commercial fruit and vegetable growers are being encouraged to cast their votes in the Horticulture New Zealand (HortNZ) board directors' election.
A unique discovery by a Palmerston North science company, Biolumic, looks set to revolutionise the value and potential of ryegrass and the secret is the application of ultraviolet (UV) light.
A New Zealand company is redefining the global collagen game by turning New Zealand sheepskin into a world-class health product.
With further extreme weather on the way, ANZ Bank is encouraging farmers and business owners impacted by the recent extreme weather and flooding to seek support if they need it.
OPINION: It's official, Fieldays 2025 clocked 110,000 visitors over the four days.
OPINION: The Federated Farmers rural advocacy hub at Fieldays has been touted as a great success.