Returns lift, costs down - DairyNZ
The outlook for dairy farmers this season has improved, especially when compared to forecasts only six months ago, according to DairyNZ.
Fat-based products have once again led a rise in the GlobalDairyTrade (GDT) auction price index.
In the overnight auction, the price index rose 0.9% over the previous auction; anhydrous milk fat was up 5.3% and butter up 1.2%.
Whole milk powder prices rose 0.6%, in line with earlier futures pricing.
Butter is now selling on GDT at a record price of US$6026/ MT; AMF is fetching US$6764/MT.
Key results
AMF index up 5.3%, average price US$6,764/MT
Butter index up 1.2%, average price US$6,026/MT
BMP not offered
Ched index down 1.9%, average price US$4,032/MT
LAC index down 3.8%, average price US$759/MT
RenCas index down 2.4%, average price US$6,036/MT
SMP index down 1.2%, average price US$1,920/MT
WMP index up 0.6%, average price US$3,122/MT
Farmer-led charity, Meat the Need is calling for donations to enable it to supply more meals to families in need.
Weaker pricing and demand from China continue to impact New Zealand red meat export earnings.
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
Horticulture NZ chief executive Nadine Tunley will step down in August.
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.