Monday , May 29 2017
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Agribusiness

Tracking the dairy fallout- 19 August

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Today’s news rings positive following several weeks of doom and gloom. This starting with the announcement that dairy product prices have increased for the first time in six months with the average winning GDT price climbing 14.8 per cent to $1,974USD. The word this morning was that the New Zealand …

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Dairy product prices increase for first time in six months

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Dairy product prices jumped in the latest GlobalDairyTrade auction, rising for the first time in nearly six months on reduced volume of whole milk powder on offer. The GDT average winning prices climbed 14.8 percent to US$1,974, up from US$1,815 at the previous auction two weeks ago. It was the …

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NZ dollar little changed as dairy product prices bounce as expected

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The New Zealand dollar was little changed after dairy product prices jumped as expected at auction overnight, as the bounce had already been priced into the local currency. The kiwi was at 65.84 US cents at 8am in Wellington, from 65.89 cents at 5pm yesterday. The trade-weighted index edged lower …

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Tatua calls for independent review of milk pricing

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Milk processor Tatua Co-operative Dairy Company is calling for a full and independent review of the way milk pricing is set following concerns that inefficient milk supply and capital investments could be made under the current model. In its submission to the Commerce Commission’s government-ordered review of the Dairy Industry …

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Auditor-General Lyn Provost probes Saudi live sheep scandal

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The Auditor-General is mounting a probe into the Saudi Arabian agri-hub created at a cost of $15.5 million to the taxpayer in 2013 as part of efforts to restore relations with Saudi Arabia after the New Zealand government confirmed a ban on live sheep shipments to the Arab nation. Among the four broad …

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Silver Fern Farms and Alliance have another crack at meat industry reforms

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The two shareholder groups representing Silver Fern Farms and Alliance farmers have joined forces in a bid to encourage the two meat cooperatives to follow suit and work collaboratively. Each shareholder group has separately gained the 5 percent farmer support needed to call special meetings of their respective cooperatives to try and …

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Fonterra overshoot on 2015 advance payment worsens 2016 farmer cash flows

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Milk prices have dropped so dramatically that Fonterra Cooperative Group effectively overpaid farmers under an advance payments scheme last year, sapping funds available to pay out farmers at the end of the season and leaving them short of cash even before last week’s deep cut to the 2016 forecast payout. “Last year, Fonterra came …

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