Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
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
Federated Farmers president Wayne Langford is claiming “some real success” on the 12 policy priorities it placed before the Coalition Government.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.