Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Farmers supplying Fonterra’s Wagga Wagga factory in the NSW Riverina have been offered a new pricing agreement aimed at taking the volatility out of milk income.
After years of farmer lobbying, the processer offered a ‘cap and collar’ option, which will put a floor and a ceiling on the farmgate milk price for three years.
About 20 farmers from Wagga Wagga and Finley districts supply the factory that produces Riverina Fresh products for the east coast market.
Euberta farmers Neil and Simone Jolliffe say they’ve sought this certainty since buying their farm seven years ago.
“When we bought the farm we were on A56 cents/L and the following year we dropped to A36c,” Jolliffe says.
“It’s come at a good time for us. We’re looking to grow the business but we didn’t want to grow it and take a big hit like we did in 2009. Now we’ve got an assurance that for the next three years this will be our price.”
Neil Jolliffe estimates this will mean his milk cheque will only fluctuate by about 4 cents/L over the next three years.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
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