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 continue their downward slide, with last night's auction seeing the average price index drop 1.3% to US$2,409/MT.
Anhydrous Milk Fat took the biggest hit with the average price dropping 8.9% to US$2,814/MT.
Decreases were also seen for Lactose, down 2.8% to US$525/MT, Skim Milk Powder down 0.2% to US$1,978/MT and Whole Milk Powder, which dropped a minimal 0.1% to US$2,327/MT.
However, it was not all bad news with several products gaining ground. Butter Milk Powder rose 10% with an average price of US$1,975/MT.
Rennet Casein increased 4.3% to US$6,126/MT.
Butter and Cheddar also saw an increase; Butter went up 3.3% with an average price of US$2,707/MT, while Cheddar rose 2.4% to US$2,814/MT.
Some 24,047 tonnes of product was sold, down from 27,711 tonnes of product two weeks ago.
Key Results
AMF index down 8.9%, average price US$2,814/MT
Butter index up 3.3%, average price US$2,707/MT
BMP index up 10.0%, average price US$1,975/MT
Ched index up 2.4%, average price US$3,128/MT
LAC index down 2.8%, average price US$525/MT
RenCas index up 4.3%, average price US$6,126/MT
SMP index down 0.2%, average price US$1,978/MT
WMP index down 0.1%, average price US$2,327/MT
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.