Fonterra cements position as the big cheese!
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
Farmers are being urged to budget on a milk price in the lower half of Fonterra's present guidance range, $6.25 to $7.75/kgMS.
ASB economist Nat Keall says there is plenty of uncertainty at this stage in the season.
"There are some upside risks as well as downside ones.
"Nonetheless, we think it is prudent for farmers to be budgeting on a milk price in the lower half of Fonterra's present guidance range."
ASB has lowered its forecast milk price to $6.60/kgMS.
Westpac is sticking to its $7.50/kgMS forecast, which was revised this earlier this month.
Westpac senior agri economist Nathan Penny says they had expected prices to continue to fall in the short term.
"Recall that global demand is weak, notably from our key market in China." However, the fall in last week's Global Dairy Trade (GDT) auction was larger than expected.
"And while it is difficult to read too much into one auction result, it does point to prices potentially falling by more than our updated forecast suggests," says Penny.
"To that end, Fonterra's forecast range is a useful tool to keep in mind.
"After Fonterra's recent update, the range stands at $6.25 to $7.75.
"Indeed, we continue to note that it's still early days in the season and a wide range of milk prices are possible," says Penny.
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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