ASB joins NZ Dairy awards' national sponsor family
The New Zealand Dairy Industry Awards has added ASB Bank to its national sponsor family.
An $8/kgMS farm gate milk price is still on the cards with less than six weeks left to run this season.
Last week's subdued Global Dairy Trade (GDT) event wasn't a surprise, according to ASB economist Nat Keall.
"We'd been anticipating a relatively flat event, so the result has few implications for the current season - already in a well-advanced stage - or our early thoughts on the next one," he says. "In general, dairy prices remain heavily range-bound, with an absence of clear direction evident since prices rebounded from the lows they fell to mid last year."
Keall notes that little has happened to radically reshape the global dairy market, and to the extent that dynamics have shifted, different price drivers have moved to offset one another.
"All-up, we still feel comfortable with our $8/kgMS forecast for the current season and our $8.30/kgMS forecast for 2024/25. Risks to next season's forecast look reasonably balanced in our view for now.
"With 2024/25 milk price futures currently trading around $8.45/kgMS, up from nearer $8 when we launched our forecast, hedging some output at that kind of price could be prudent, given the balanced skew of risks."
A governance group has been formed, following extensive sector consultation, to implement the recommendations from the Industry Working Group's (IWG) final report and is said to be forming a 'road map' for improving New Zealand's animal genetic gain system.
Free workshops focused on managing risk in sharefarming got underway last week.
Annual farmer gathering, the South Island Dairy Event (SIDE), is set to make history as it heads to Timaru for the first time.
Installing 400 solar panels at their Taranaki piggery and cropping operation will have significant environmental, financial and animal welfare benefits for the Stanley family.
WoolWorks, New Zealand’s largest wool-scouring company, has partnered with the Lions Club of Riverton to help raise money for much-needed repairs to the Southland town’s swimming pool.
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