increase font size
The 2.2% rise in GDT price index won’t be enough to prevent another downward revision of the farm gate milk price.
On the eve of Fonterra revising its farmgate milk price, the overnight Global Dairy Trade auction (GDT) offered farmers some good news.
However, the 2.2% rise in GDT price index won’t be enough to prevent another downward revision of the farm gate milk price.
Fonterra is expected to revise the farm gate milk price, currently sitting at a range of $6.25/kgMS to $6.50/kgMS.
Whole milk powder price rose 2.5% to US$2,667/MT but still below the US$3000/MT threshold. The US$3000/MT is generally regarded as the break-even point for farmers, although adverse currency movements can hinder beneficial price movements.
Key results
AMF index up 3.9%, average price US$4,755/MT
Butter index up 2.7%, average price US$3,745/MT
BMP index up 16.9%, average price US$2,973/MT
Ched index down 2.2%, average price US$3,184/MT
LAC index up 0.5%, average price US$918/MT
RenCas index up 2.0%, average price US$5,167/MT
SMP index up 0.3%, average price US$1,970/MT
SWP index not available, average price not available
WMP index up 2.5%, average price US$2,667/MT
As part of preparing for a potential IPO in relation to the divestment process for its global Consumer business and integrated businesses Fonterra Oceania and Sri Lanka, Fonterra has named Anne Templeman-Jones as chair-elect of the Audit and Risk Committee for the Mainland Group board.
Fonterra says it takes the ongoing threat of 'adverse cyber action' extremely seriously.
Despite the turmoil in global markets, Fonterra is continuing with a dual track process to divest its multi-billion dollars consumer businesses.
Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.
Fonterra has named Elizabeth (Liz) Coutts the chair of Mainland Group, the proposed divestment entity of the co-operative’s consumer business.
Farmers in the Australian state of New South Wales will soon be able to use virtual fencing and herding technology to boost farm productivity.
Hawke's Bay teenage entrepreneur Hugo Moffett is helping the rural community access cheaper school uniforms, all without leaving their homes.
As part of preparing for a potential IPO in relation to the divestment process for its global Consumer business and integrated businesses Fonterra Oceania and Sri Lanka, Fonterra has named Anne Templeman-Jones as chair-elect of the Audit and Risk Committee for the Mainland Group board.
There's been a positive response to the Government's latest move to make freshwater farm plans more practical and affordable.
Massey University has begun trialling the use of superior beef genetics in its two dairy farms as part of Beef + Lamb New Zealand's dairy beef progeny test.
The annual Featherston Booktown Karukatea Festival – a fusion of books and storytelling - celebrates its 10th anniversary this year.
