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ASB head of rural banking Aidan Gent is encouraging farmers to speak to their banks when they are struggling.
The Global Dairy Trade price index was up 6.6% overnight, with the all-important whole milk powder up 9.9%.
Key Results:
AMF index up 4.7%, average price US$3,797/MT
Butter index up 6.6%, average price US$2,871/MT
BMP index up 7.7%, average price US$1,661/MT
Ched index down 0.8%, average price US$2,889/MT
LAC index up 3.7%, average price US$741/MT
RenCas index up 16.3%, average price US$6,161/MT
SMP index up 2.1%, average price US$1,965/MT
WMP index up 9.9%, average price US$2,265/MT
ASB rural economist Nathan Penny says the overall result was stronger than their expectations heading in; they expected WMP prices to lift by between 5% and 7%.
The bounce was also broad-based. On top of the WMP increase, casein prices surged 16%, while butter and BMP rose 7% and 8%, respectively. Only cheddar prices recorded a fall.
"From here, we expect rapidly tightening global supply to lift prices further over 2016," he says.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.