Herd production performance soars
New data released by LIC and DairyNZ shows New Zealand dairy farmers have achieved the highest six week in-calf rate and lowest notin- calf rate on record.
OPINION: DairyNZ's latest forecast data on the Econ Tracker, that the outlook for the current season has improved, will be welcome news for farmers.
Only six months ago, the outlook was dire for many farms, with soaring input costs and a very average milk payout.
In recent months, dairy prices on Global Dairy Trade have risen, although the last two GDT events have seen prices retreat slightly.
DairyNZ says revenue projections have improved largely due to better results at the global dairy auction, along with Fonterra’s adjusted projected payout for the season, now sitting at a mid-point of $7.80/kgMS.
The Econ Tracker notes significant price decreases for feed and fertiliser, bringing these more in line with historical averages, reducing on-farm costs.
But interest rates remain high, becoming one of the most significant costs for farmers this season. The Reserve Bank signalled slowed reductions to the official cash rate, meaning interest rates are now likely to reduce more slowly and later than previously expected, which will concern farmers, many of whom are on floating rates.
When considering these changes, DairyNZ’s latest forecast data on the Econ Tracker shows the national breakeven forecast currently sits at $7.75/kgMS. This is below DairyNZ’s forecast average payout received of $8.12/kgMS, which is based on the estimated milk receipts for the 2023-24 season and dairy company dividends for all processors.
With less than two months left for the season, farmers will be turning their eyes to the next season and the forecast from Econ Tracker isn’t very good.
The breakeven milk price for the 2024/25 season is forecast to sit at around $7.76/ kgMS, while the forecast payout received is $7.79/kgMS.
The message for farmers is to continue managing their budgets and costs.
Farmers will be hoping for a payout higher than Econ Tracker’s forecast of $7.79/kgMS.
Animal rights organization, SAFE says the government needs to maintain the ban on live exports.
New findings from not-for-profit food supply and distribution organization, the New Zealand Food Network (NZFN) have revealed a 42% increase in demand for food support in 2023 compared to 2022.
New data released by LIC and DairyNZ shows New Zealand dairy farmers have achieved the highest six week in-calf rate and lowest notin- calf rate on record.
Christchurch City Council and the Canterbury Agricultural and Pastoral Association (CAPA) have signed an agreement which will open more of Canterbury Agricultural Park for public use while helping to provide long-term certainty for the A&P Show.
This year’s Fieldays will feature a Rural Advocacy Hub - bringing together various rural organisations who are advocating for farmers and championing their interests as one team, under one roof, for the first time.
ASB head of rural banking Aidan Gent is encouraging farmers to speak to their banks when they are struggling.
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird…
OPINION: Synlait's financial woes won’t be going away anytime soon.