Make the right decision, Peters urges Fonterra farmers
New Zealand First leader and Foreign Minister Winston Peters is ratcheting up pressure on Fonterra farmers as they vote on divesting the co-operative’s consumer and related businesses.
Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.
The forecast Milk Price range has also narrowed from $9.70 - $10.30/kgMS to $10.10 - $10.20/kgMS.
Miles Hurrell, Fonterra chief executive, says that as the co-operative closes out the 2025 financial year, he's pleased to increase the forecast for the 2024/25 season by 15 cents.
"We began the season with a wide forecast range to account for potential volatility in commodity prices and exchange rates resulting from geopolitical dynamics," Hurrell says.
"However, Global Dairy Trade prices have remained stable, and when coupled with our well contracted sales book, we have been able to increase our Farmgate Milk Price across the season," he says.
Fonterra has also retained the $10.00 per kgMS forecast for the current 2025/26 season and narrowed the range from $8.00 - $11.00 per kgMS to $9.00 - $11.00 per kgMS.
“Global Dairy Trade prices continue to be strong, supporting the $10.00 per kgMS forecast midpoint for the current season.
“However, it’s still early in the season and the risk of volatility remains, which is reflected in the wide forecast range,” says Hurrell.
Fonterra's FY25 forecast earnings of 65-75 cents per share remains unchanged.
The co-operative will confirm its final Farmgate Milk Price for the 2024/25 season with its FY25 annual results in September.
Dignitaries from all walks of life – the governor general, politicians past and present, Maoridom- including the Maori Queen, church leaders, the primary sector and family and friends packed Our Lady of Kapiti’s Catholic church in Paraparaumu on Thursday October 23 to pay tribute to former prime Minister, Jim Bolger who died last week.
Agriculture and Forestry Minister, Todd McClay is encouraging farmers, growers, and foresters not to take unnecessary risks, asking that they heed weather warnings today.
With nearly two million underutilised dairy calves born annually and the beef price outlook strong, New Zealand’s opportunity to build a scalable dairy-beef system is now.
Graduates of a newly-updated Agri-Women’s Development Trust (AWDT) course are taking more value than ever from the programme, with some even walking away calling themselves the “farm CFO”.
Meet the Need, a farmer-led charity, says food insecurity in New Zealand is dire, with one in four children now living in a household experiencing food insecurity, according to Ministry of Health data.
Applications have now opened for the 2026 Meat Industry Association scholarships.