increase font size
Fonterra says the global dairy market remains largely in balance, but is not without some risk.
“We are keeping a close eye on international trade tensions and geopolitical risks. The weakening Chinese currency means less consumer purchasing power for USD-priced dairy products like ours. There is also continuing volatility in the price of dairy fat.
“On the other side, we have seen good Whole Milk Powder (WMP) demand. Global milk supply growth is slowing and international WMP production expectations are falling.”
The co-op is maintaining its current 2019-20 forecast range of $6.25 to $7.25/kgMS and the Advance Rate schedule, which is set off $6.75/kgMS.
“It is still early in the season with around 2% of our forecast full season milk volume collected to date, so we are retaining a range of +/- 50c/kgMS. As the season progresses and we get greater certainty on production and sales, this range will narrow,” it says.
It will announce the final 2018/19 Farmgate Milk Price as part of its annual results on 12 September.
In the past, much has been made of the concept of farm to fork, but an Australian expert in food science and marketing with experience in the dairy industry, Dr Angeline Achariya, says the reverse of this slogan is critical to win modern day consumers.
A four year trial has reaffirmed that mixing plantain into dairy pastures can help reduce nitrogen losses to freshwater while maintaining milk production and profitability, say researchers.
Fonterra has opened its upgraded Chengdu Application Centre, bringing New Zealand dairy expertise closer to customers in one of China's fastest-growing regions.
Tatua chair Stephen Allen says he leaves the co-op with a deep sense of gratitude for the people who have contributed to its success.
Federated Farmers president Colin Hurst and his family raised a glass of milk last week to toast the start of a new addition to their farming operation at Makihihi, south of Timaru.
For Taupiri dairy farmers Logan and Sian Dawson, their involvement in the NZ Dairy Industry Awards has been a key catalyst in the growth of their business - the experience helping shape how they approach the farm ownership pathway they are pursuing today.
West Otago dairy farmer Luke Kane has been awarded the 2026 Rabobank Dr John Morris Business Development Prize.
OPINION: As the general election approaches, political parties are churning out policies in the hope of attracting more votes.
An LIC bull, Tronnoco AR Sadio-ET S3F, bred by Tony and Keri O'Connor of Tronnoco Farming Co Ltd near Timaru, has won the 2026 Mahoe Trophy.
With forecasters advising El Niño conditions will develop through winter and strengthen into spring and summer, Ballance Agri-Nutrients is encouraging farmers and growers to think ahead about nutrient planning and be prepared to work around challenging weather conditions.
A Palmerston North shearer has been sentenced to six months' community detention and 12 months' supervision after being found to have physically abused three lambs while shearing them.
OPINION: After hogging the media limelight for telling a NZ Chinese MP to "go back home", Winston Peters has decided…
OPINION: With fuel prices soaring, one would have expected most farmers to be reclaiming excise duty on petrol.
