Lactalis in front to acquire Fonterra’s Australian dairy assets after ACCC clearance
The world's largest dairy company may be in pole position to acquire Fonterra's Australian assets.
Milk collection in Waikato is now down 14% on daily collection last year, says Fonterra.
This reduction is highly unusual, the co-op says.
“Fonterra is continually assessing the ongoing impact on its contract book and future production plans, given that milk collections at the peak of this season will not recover and will flow into the balance of the season,” the co-op’s global dairy update for September says.
It has further reduced its forecast milk volume for the 2016-17 season from 1523 million kgMS to 1460m kgMS.
In September, Fonterra New Zealand milk collection decreased 2% and Fonterra Australia collection decreased 9%.
“Since then the continuing impact of materially wetter-than-normal spring weather in most regions has further reduced Fonterra’s milk volumes in NZ."
Daily milk volumes in the central and upper North Island were well down in early October.
Collection nationwide in the four months to September 30 reached 297m kgMS, 3% behind the same period last season. September milk collection was 175m kgMS, 2% lower than September last season.
North Island milk collection in September reached 110m kgMS, 5% behind September last season. Unfavourable weather continues to affect production in most dairying regions. High rainfall in October have made conditions difficult in many regions, most noticeably in the central region where daily production is down about 14% on last year.
South Island milk collection in September reached 64m kgMS, 3% above September last season. Initial October collections indicate milk volumes in the South Island have begun to decline and may fall below last season.
Irish meat processor Dawn Meats is set to acquire a 70% stake in Alliance Group, according to a report in The Irish Times.
New Zealand's red meat sector says the United States' decision to increase tariffs on New Zealand exports is disappointing.
Waikato-Bay of Plenty farmer Hugh Jackson recently secured this year’s FMG Young Farmer of the Year title in Invercargill.
From nitrogen limits to ecosystem restoration –farmers and catchment groups are leading a new wave of environmental care, says DairyNZ.
OPINION: The Government's decision to stop local authorities going ahead with reviews of district and regional plans makes sense for several reasons.
With June ending and following the most upbeat National Fieldays for several years, tractor dealers are reporting a lift in sales.
OPINION: Will synthetic milk derail NZ's economy?
OPINION: According to media reports, the eye-watering price of butter has prompted Finance Minister Nicola Willis to ask for a…