Fonterra Whareroa sets cheese record, wins top award
Fonterra Whareroa wrapped up a successful season with a record-breaking cheese production volume and several gongs at the co-op's annual Best Site Cup awards.
Fonterra has reduced its 2020-21 forecast farmgate milk price range midpoint by 5c.
Having sold most of its milk for the 2020/21 season, Fonterra says it is now in a position to narrow this season’s range - from $7.30 - $7.90/ kgMS to $7.45 - $7.65/kgMS.
Chief executive Hurrell says, at a mid-point of $7.55/kgMS , 2020/21 would be the second year in a row with the forecast farmgate milk price above $7/kgMS.
Hurrell says since March, global dairy prices have settled, somewhat.
“This is why we have revised our midpoint down 5 cents.”
He referred to the “extraordinary” March Global Dairy Trade (GDT) event, where prices jumped 15% and contributed to the increase in its forecast 2020/21 farmgate milk price range.
Back in March, the average price for whole milk powder was over US$4,350/metric tonne. In the last three GDT events, however, the average price has reduced to close to US$4,100/metric tonne. And GDT butter prices have gone from almost US$6,000 per metric tonne to below US$5,000 per metric tonne for the first time since January, Hurrell notes.
Newly elected Federated Farmers meat and wool group chair Richard Dawkins says he will continue the great work done his predecessor Toby Williams.
Hosted by ginger dynamo Te Radar, the Fieldays Innovation Award Winners Event put the spotlight on the agricultural industry's most promising ideas.
According to DairyNZ's latest Econ Tracker update, there has been a rise in the forecast breakeven milk price for the 2025/26 season.
Despite the rain and a liberal coating of mud, engines roared, and the 50th Fieldays Tractor Pull Competition drew crowds of spectators across the four days of the annual event.
Nationwide rural wellbeing programme, Farmstrong recently celebrated its tenth birthday at Fieldays with an event attended by ambassador Sam Whitelock, Farmers Mutual Group (FMG), Farmstrong partners, and government Ministers.
Six industry organisations, including DairyNZ and the Dairy Companies Association (DCANZ) have signed an agreement with the Ministry for Primary Industries (MPI) to prepare the country for a potential foot and mouth outbreak.
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