DairyNZ lifts breakeven milk price forecast to $8.68 for 2025/26 season
According to DairyNZ's latest Econ Tracker update, there has been a rise in the forecast breakeven milk price for the 2025/26 season.
The Institute of Directors has developed a due diligence guide for directors in farming enterprises in conjunction with DairyNZ.
The guide, known as Farming Directorships: A due diligence guide for directors, has been produced to help prospective independent directors understand the nature of the business as part of their preparation in deciding whether to join a farming company board.
It can also be used as a framework for considering farming advisory board appointments.
IoD chief executive Simon Arcus says being an independent director on the board of a farming company can provide a rewarding opportunity to add value to one of the country's largest and most important commercial sectors.
"The guide is about equipping prospective directors and advisors in the rural sector with the best knowledge to enter the environment. If I ran a farming concern I'd give a prospective director a copy too," Arcus says.
"There is growing recognition of the important role that governance structures and long term thinking play in the creation and protection of shareholder value in farming businesses. Good governance is about making the business meet its potential. It means having strategic plans for the future that anticipate the good and bad times ahead."
IoD Waikato branch chair Margaret Devlin says the branch was honoured to launch the guide as it celebrates 25 years in the Waikato.
"The Waikato branch has been involved in supporting the development of this guide from the beginning, and look forward to the difference it will make to farming business success," Devlin says.
"The guide highlights key issues in farming businesses, and raises key questions for prospective directors to ask, and can be useful for any farming business."
Arcus says agri-business is fundamental to the New Zealand economy. Farming businesses are no different from any other businesses.
"Bringing on an independent director can help grow the business for the long-term."
Newly elected Federated Farmers meat and wool group chair Richard Dawkins says he will continue the great work done his predecessor Toby Williams.
Hosted by ginger dynamo Te Radar, the Fieldays Innovation Award Winners Event put the spotlight on the agricultural industry's most promising ideas.
According to DairyNZ's latest Econ Tracker update, there has been a rise in the forecast breakeven milk price for the 2025/26 season.
Despite the rain and a liberal coating of mud, engines roared, and the 50th Fieldays Tractor Pull Competition drew crowds of spectators across the four days of the annual event.
Nationwide rural wellbeing programme, Farmstrong recently celebrated its tenth birthday at Fieldays with an event attended by ambassador Sam Whitelock, Farmers Mutual Group (FMG), Farmstrong partners, and government Ministers.
Six industry organisations, including DairyNZ and the Dairy Companies Association (DCANZ) have signed an agreement with the Ministry for Primary Industries (MPI) to prepare the country for a potential foot and mouth outbreak.
OPINION: It's official, Fieldays 2025 clocked 110,000 visitors over the four days.
OPINION: The Federated Farmers rural advocacy hub at Fieldays has been touted as a great success.