Winston's crusade
OPINION: A short-term sugar hit. That's what NZ First leader Winston Peters is calling the proposed sale of Fonterra's consumer and associated businesses.
Rabobank says strong global supply is weighing on the dairy market, with international dairy commodity prices down across the board.
Milk production in New Zealand and Australia is particularly strong, on the back of favourable seasonal conditions, with milk flows tracking above last season's levels. Global demand remains patchy, with weak retail sales in the US and several key EU markets.
Earlier this week Fonterra dropped its 2011-12 forecast payout by 15c/kgMS. It says a strong Kiwi dollar and declining commodity prices.
In its March agribusiness review, Rabobank says commodity prices in New Zealand dollar terms weakened by a further 6.5% on average in February on the back of softer international prices.
At the same time the New Zealand dollar firmed 4.5% during the period.
On the international market, strong global supply out of Australia, New Zealand and the US is weighing on dairy commodity prices, it says.
"Milk powders are trading around 20% below the levels seen this time last year, with cheese prices down around 10%," it says.
A major feature of the Ashburton A&P Show, to be held on October 31 and November 1, will be the annual trans-Tasman Sheep Dog Trial test match, with the best heading dogs from both sides of the Tasman going head-to-head in two teams of four.
Fewer bobby calves are heading to the works this season, as more dairy farmers recognise the value of rearing calves for beef.
The key to a dairy system that generates high profit with a low emissions intensity is using low footprint feed, says Fonterra program manager on-farm excellence, Louise Cook.
Rural retailer Farmlands has reported a return to profitability, something the co-operative says shows clear progress in the second year of its five-year strategy.
According to a new report, the Safer Rides initiative, which offered farmers heavily discounted crush protection devices (CPDs) for quad bikes, has made a significant impact in raising awareness and action around farm vehicle safety.
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