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.
The GlobalDairyTrade price index was up 1.4% over night, with whole milk powder up 5.5%.
The lift follows better sentiment across markets generally, says ASB rural economist Nathan Penny. For example since the last auction, the S&P 500 has lifted around 4%.
The rise was bang on expectations, he says. WMP led the way, posting a 5.5% increase (although WMP remains around 13% lower than as at the end of 2015). Casein recorded the largest increase (up 14.9%), while SMP rose a more modest 1.3%.
ASB is maintaining its 2015-16 and 2016-17 milk price forecasts at $3.90/kgMS and $6/kgMS, respectively.
Key Results from last night' s GlobalDairyTrade Event 159:
AMF index down 8.3%, average price US$3,254/MT; Butter index down 0.5%, average price US$2,811/MT; BMP index down 2.9%, average price US$1,452/MT; Ched index down 0.7%, average price US$2,528/MT; LAC index up 7.9%, average price US$613/MT; RenCas index up 14.9%, average price US$4,569/MT; SMP index up 1.3%, average price US$1,802/MT;
WMP index up 5.5%, average price US$1,974/MT.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
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.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.