Medals galore for Fonterra cheeses
Fonterra cheeses are continuing their golden run at the annual New Zealand Cheese Awards.
It's been another bad morning for the dairy industry.
This morning's GlobalDairyTrade auction saw the GDT price index down 7.9%, its third consecutive drop.
Worryingly, milk powder prices tumbled; whole milk powder was down 11% to US$2148/tone and skim milk powder down 8% to US$1851/tonne.
Fonterra says whole milk powder prices should stay around the US$3000/tonne to mark to justify the current forecast payout for the season; the co-op is forecasting a milk payout of $4.60/kgMS.
This week it increased its forecast earnings per share range for the current financial year to 45-55 cents, a lift of 5c.
Fonterra chairman John Wilson told journalists that he expects global dairy prices to firm in the first half of next year.
Key Results of this morning's GDT event;
AMF index down 5.9%, average price US$3,430/MT
Butter index up 5.6%, average price US$2,709/MT
BMP index down 1.0%, average price US$1,825/MT
Ched index down 5.0%, average price US$2,874/MT
LAC index down 2.0%, average price US$503/MT
RenCas index down 4.4%, average price US$5,250/MT
SMP index down 8.1%, average price US$1,851/MT
WMP index down 11.0%, average price US$2,148/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.
OPINION: We have good friends from way back who had lived in one of our major cities for many years.
OPINION: European farmers are going to extreme lengths to have their message heard.
OPINION: The hustle and bustle of one of Bangkok's most popular fast food outlets may feel a world away from…