Returns lift, costs down - DairyNZ
The outlook for dairy farmers this season has improved, especially when compared to forecasts only six months ago, according to DairyNZ.
Global dairy prices have taken a hit in the overnight auction.
As predicted by the futures market, prices fell as concerns grew around coronavirus in China and its impact on global trade.
China is Fonterra’s major key market: Around 11% of all dairy consumption in China comes from Fonterra
The GDT price index fell 4.7%: whole milk powder down 6.2%, skimmed milk powder down 4.2%, and butter up 0.2%.
Updated coronavirus statistics show confirmed cases total 20,708 worldwide (20,483 in China), of which 4% have recovered, 13% are in critical condition, and 427 have died (425 in China).
Key results
AMF index down 4.5%, average price US$4,626/MT
Butter index up 0.2%, average price US$4,258/MT
BMP index down 5.2%, average price US$2,886/MT
Ched index up 6.0%, average price US$4,302/MT
LAC index up 2.5%, average price US$830/MT
RenCas index up 6.0%, average price US$9,956/MT
SMP index down 4.2%, average price US$2,907/MT
SWP index not available, average price not available
WMP index down 6.2%, average price US$3,039/MT
Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.
Shipping disruption caused by Houthi rebels in the Red Sea has so far not impacted fertiliser prices or supply on farm.
The opportunity to spend more time on farm while providing a dedicated service for shareholders attracted new environmental manager Ben Howden to work for Waimakariri Irrigation Limited (WIL).
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.
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