Synlait slump
OPINION: Synlait's woes continue to drag the company down. The listed milk processor’s share price dropped to an all-time low of 30c last week, valuing the company at around only $65 million, a huge slump from its peak value.
The tents and flags went up, the punters came in - 106,000 according to Fieldays - looking for a bargain and, according to many exhibitors Dairy News spoke to, the general vibe was pretty good.
Big, well-timed announcements from Wellington helped, such as the removal of agriculture from the ETS, and the bank inquiry announcement.
But it's likely that, while happier on the surface, farmers were still only buying smaller items, such as hotdogs and socks, because the farmgate prices for meat, milk and wool still don't match the more upbeat mood at Fieldays.
