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.
Fonterra has maintained its milk volume forecast for the 2015-16 season at 1,589m kgMS, about 2-3% lower than the amount collected last season.
Under the Dairy Industry Restructuring Act, Fonterra is required to update its current season forecast milk volumes by early September.
Group director cooperative affairs Miles Hurrell says although Fonterra had forecast a 2-3% decline in volumes there was evidence farmers were pulling back on production, which could lead to a further downward revision of forecast volumes as the season progresses.
“Farmers are responding to the lower forecast farmgate milk price by returning to more traditional farming practices. They are reducing the use of feed supplements, and lowering stocking rates per hectare as they concentrate on utilising pasture,” says Hurrell.
“Market data from several independent sources show that cows are being culled at higher rates than last season while many of our farmers are also providing early advice that they are expecting significant year on year volume reductions.
“In addition, currently our daily milk collection average is lower than for the same period last year.”
Hurrell says given these variable factors, Fonterra had decided to maintain its current forecast milk volume at this stage.
However, he adds, “It is still early in the season, and any forecast at this point is very dependent on weather conditions, which have so far been poor for production”.
Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
Making things simpler, not harder, for deer farmers in farm planning and coping with regulations is Deer Industry New Zealand (DINZ) industry capability manager John Ladley’s current focus.
Rural Women New Zealand (RWNZ) is launching an online business directory called The Country Women’s Collective to promote and support entrepreneurial rural women.
New Zealand actor Sam Neill has joined the Campaign for Wool NZ as an ambassador, lending his name and profile to educate and advocate for New Zealand strong wool.
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