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.
Colin Guyton says for the first time since he’s been farming he didn’t receive a milk cheque in July, in common with almost everybody and a cause of stress and concern.
Dairy farmers must now keep an eye on others because some are vulnerable and may need help, he says. All the news he hears is negative.
“There hasn’t been a lot of positive stuff. All we get is negative stuff at the moment, some about how long this downturn will last. You hear rumours that interest rates will fall and that would be a positive move. My gut feeling is they will come down more but it’s still going to be pretty tight. [We have to] sharpen our pencils over costs, which were getting a bit out of hand.”
Guyton says New Zealand farmers were the envy of the world with their low cost production. But he and many others installing feeding systems now have higher costs. He’s not sure what effect the present low payout will have on the dairy industry, noting that a sudden upsurge in the GDT price could see people go back to the status quo.
“But I think Fonterra’s policy on growth growth growth may be wrong. We need to be producing the right amount of milk for the right profitability.
“Fonterra slightly led us astray…. I’m not suggesting this was deliberate but we were told China is growing and there’s huge gap with no milk and the next ten years will be great. All of sudden we have a milk lake they should have been able to see coming.”
But Guyton is complementary about the response and communication he’s received from Fonterra on issues he’s raised with chairman John Wilson, who personally emailed a response to him and arranged for someone from Fonterra to talk to him.
Listed carpet manufacturer, Bremworth is undertaking a $6 million expansion at its Napier plant more than two years after the site was heavily damaged by Cyclone Gabrielle.
Federated Farmers is vowing to keep the big banks accountable for their actions and to continue pushing for meaningful change in the rural lending sector.
Farmer perceptions of current economic conditions have risen to their highest level in almost a decade.
Two butcheries have claimed victory at the 100% New Zealand Bacon & Ham Awards for 2025.
A Taupiri farming company has been convicted and fined $52,500 in the Hamilton District Court for the unlawful discharge of dairy effluent into the environment.
The Climate Change Commission’s 2025 emissions reduction monitoring report reveals steady progress on the reduction of New Zealand’s climate pollution.
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