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Fonterra chairman John Wilson.
Fonterra Cooperative Group Ltd increased its 2016/17 forecast farmgate milk price by 50 cents to $5.25/kgMS.
When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.75 to $5.85/lgMS before retentions.
Chairman John Wilson says since the cooperative last reviewed its forecast milk price in August, global milk supply has continued to reduce and demand has remained stable.
“Milk production in key dairying regions globally is reducing in response to low milk prices,” he says.
“Milk production in the EU for 2016 is beginning to flatten out and our New Zealand milk collection is currently more than 3% lower than last season.
“While we have seen some improvement in GDT auction prices recently, the high NZD/USD exchange rate is offsetting some of these gains.
“There is still volatility in global dairy markets and we will continue to keep our forecast updated for our farmers over the coming months.”
As dairy farmers lock in plans for the upcoming mating season, a partnership between Fonterra and Silver Fern Farms has been formed with the aim of making it simpler to create additional value from calves not entering the replacement herd.
South Waikato farmer Bas Nelis is always interested in fine-tuning his business to improve results.
Fonterra has reduced its forecast 2026/27 Farmgate Milk Price.
Fonterra's Whareroa site took home the prestigious Directors Award at the co-op's 'Oscars of Manufacturing', while Clandeboye led the way with multiple wins at this year's Best Site Cup.
After 25 years it is the right time to step away, says Colin Glass, the retiring chief executive of New Zealand's largest private corporate dairying company, Dairy Holdings.
Tayla Steele is in her fourth year of a Bachelor of Veterinary Science at Massey University in Palmerston North.
The Ministry for Primary Industries (MPI) says no new cases of H5 bird flu have been detected following a case found earlier this week.
Two months after unveiling a major upgrade to its beef product, Halter says its farmers are on track for major production gains and additional grass growth.
New Zealanders are being urged to be alert following a confirmed positive case of H5 bird flu this week.
With a third of NZ dairy farmers still running outdated refrigerants, the country's largest farm refrigeration company says the opportunity for quick, meaningful emissions gains has never been clearer.
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