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.
Doing nothing to arrest the slide in milk supply is not an option, says Fonterra chairman Peter McBride.
He told farmer shareholders that the total New Zealand milk supply is likely to decline or be flat at best.
McBride says Fonterra's supply depends on the actions it takes with the capital structure, performance, productivity and sustainability.
"If we do nothing, we are likely to see around a 12-20% decline by 2030 based on the milk supply scenarios we have modelled.
"Protecting a strong New Zealand farmer-owned co-operative of scale is in all our interests."
He notes that being a strong co-op ensures it pays the highest sustainable milk price. Fonterra's milk price sets the benchmark for prices Kiwi dairy farmers are paid for their milk.
"Based on our current operations, our farmgate milk price could be 6-13 cents lower by 2030 if we make no changes to our capital structure."
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Two major red meat sector projects are getting up to a combined $1.7 million in funding from the New Zealand Meat Board (NZMB).
Angus Barr and Tara Dwyer of The Wandle, Lone Star Farms in Strath Taieri have been named the Regional Supreme Winners at the Otago Ballance Farm Environment Awards in Dunedin.
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