Feds make case for rural bank lending probe
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
Federated Farmers says this morning's Global Dairy Trade auction, which delivered a third straight drop in the price index, was disappointing but not unexpected.
Federated Farmers dairy industry chair Andrew Hoggard says other indicators are also showing weak demand.
"While it's a concern to have had three drops in a row, this is balanced to some extent by the increase in the earnings per share announced by Fonterra earlier this week, which does give a little morale booster by signalling that improvements are happening in the value add space at least, within Fonterra," says Hoggard.
"Farmers are a pragmatic bunch and have long since accepted that this will be a difficult season. While we obviously hope for stronger prices, dairy farmers have long since taken steps to reduce costs and equip themselves to weather the storm," says Hoggard.
This morning's GlobalDairyTrade auction saw the GDT price index down 7.9%, its third consecutive drop.
Milk powder prices tumbled; whole milk powder was down 11% to US$2148/tone and skim milk powder down 8% to US$1851/tonne.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
OPINION: Scientists claim to have found a new way to make a substitute for cow's milk that could have a…
OPINION: The Irish have come up with a novel way to measure cow belching, which is said to account for…