Fonterra Whareroa sets cheese record, wins top award
Fonterra Whareroa wrapped up a successful season with a record-breaking cheese production volume and several gongs at the co-op's annual Best Site Cup awards.
The forecast milk payout for this season has gone up by 40c and Fonterra farmers can thank Chinese consumers.
The co-operative last week announced a new range of $6.30 to $7.30/kgMS with a new midpoint of $6.80/kgMS. The revised forecast comes just a month after Fonterra announced its annual results.
BNZ senior economist Doug Steel told Rural News that he’s not surprised by Fonterra’s announcement, as “underlying tones” in the dairy markets have been improving in recent weeks.
In the latest Global Dairy Trade (GDT) auction, the price of flagship whole milk powder price topped US$3,000/metric tonne. The New Zealand dollar has also stabilised.
Steel says a stable NZ dollar and strong demand for WMP normally provides upward pressure on the payout.
However, he says the wide range of Fonterra’s forecast payout means “anything could still happen”.
“There’s a wide range of possible outcomes, we are seeing so much uncertainty lingering around...anything could still happen, but for now we are seeing better prices.”
Steel says New Zealand’s close attachment to China, especially in terms of selling them dairy products, is paying dividends.
“They were first in, first out of Covid and the strong demand for WMP there gives us hope going forward.”
Fonterra chief executive Miles Hurrell says the stronger 2020-21 milk price forecast is largely being driven by improved demand in China. He says at a $6.80 milk price, more than $10 billion would flow into regional New Zealand.
Commercial fruit and vegetable growers are being encouraged to cast their votes in the Horticulture New Zealand (HortNZ) board directors' election.
A unique discovery by a Palmerston North science company, Biolumic, looks set to revolutionise the value and potential of ryegrass and the secret is the application of ultraviolet (UV) light.
A New Zealand company is redefining the global collagen game by turning New Zealand sheepskin into a world-class health product.
With further extreme weather on the way, ANZ Bank is encouraging farmers and business owners impacted by the recent extreme weather and flooding to seek support if they need it.
New Zealand must continue to educate Chinese consumers about the unique qualities of its red meat products and how they differ from competitors, says Silver Fern Farms chief executive Dan Boulton.
There are opportunities outside the farmgate for young farmers to further develop their skills, says 2025 Primary Industries Emerging Leader Award winner Bridie Virbickas.
OPINION: Dust ups between rural media and PR types aren't unheard of but also aren't common, given part of the…
OPINION: The Hound hears from his canine pals in Southland that an individual's derogatory remarks on social media have left…