While lamb prices are starting the new season at around 16% below last year’s levels, they are not outright weak, according to the BNZ.

Miraka, the Māori-owned dairy company near Taupo, believes its farmer suppliers are relatively happy about a possible lower payout this season.

The forecast milk payout for this season has gone up by 40c and Fonterra farmers can thank Chinese consumers.

Fonterra has increased the mid-point of its forecast farmgate milk price for 2020/21.

Britain's decision to break its deal with the EU over Brexit is creating uncertainty for NZ dairy exporters, according to Malcolm Bailey — chair of the Dairy Companies Association of NZ (DCANZ).

Miraka dairy paid out on average $7.14/kgMS to its farmer suppliers last season.

Despite challenges posed by Covid-19, Waikato milk processor Tatua posted record revenues of $381 million last financial year.

Fonterra farmers are happy to see the back of the cooperative’s loss-making China Farms.

After investing over $1 billion and following 10 years of poor returns, Fonterra has agreed to sell its China farms for $555 million (RMB ¥2.5 billion).

Rabobank has lifted its forecast farmgate milk price by 40c to $6.35/kgMS.