Export prices set to remain elevated
Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.
Last night’s Global Dairy Trade (GDT) auction was disappointing relative to market predictions, says Westpac senior market strategist Imre Speizer.
He notes whole milk powder prices slipped 0.6% to US$3143/MT; this was unexpected as the milk futures market had predicted a 4% rise.
The GDT price index dipped 0.4% compared to the last auction.
Fat-based products- butter and anhydrous milk fat- also slipped; butter down 1.3% and AMF 1.2%.
Skim milk powder was slightly up – 0.3% to US$!968/MT.
Key results
AMF index down 1.2%, average price US$6,199/MT
Butter index down 1.3%, average price US$5,735/MT
BMP not offered
Ched index up 1.4%, average price US$4,005/MT
LAC index down 4.9%, average price US$747/MT
RenCas index up 2.9%, average price US$6,255/MT
SMP index up 0.3%, average price US$1,968/MT
WMP index down 0.6%, average price US$3,143/MT
Farmers appear to be backing the Government's recent Resource Management Act (RMA) reforms announcement.
For the first time, all the big names in agricultural drone technology are being brought together under one marquee at the National Fieldays.
Fonterra has announced an improved third quarter performance – with a profit after tax of $1.15 billion, up $119 million on the same period last year.
The Fieldays Innovation Awards competition has attracted a diverse and impressive array of innovations from across the primary industries, highlighting the growing importance of technology shaping the future of farming.
Coming to the fore following the carnage of Cyclone Gabrielle, Starlink became well known for providing internet access even in NZ's most inaccessible places.
From this winter farmers will have a greater choice of feed types and blend options than ever before, thanks to Farmlands' purchase of animal nutrition company SealesWinslow.
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