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.
GlobalDairyTrade Event 162 concluded with the GDT price index up 3.8%, beating expectations.
The whole milk powder index lead the way, up 7.5%, to an average price US$2,156/MT.
Other results were: AMF index up 1.6%, average price US$3,240/MT; Butter index up 2.0%, average price US$2,746/MT; BMP index up 2.4%, average price US$1,460/MT; Ched index down 3.9%, average price US$2,636/MT; LAC index up 8.0%, average price US$708/MT; RenCas index up 7.5%, average price US$4,742/MT; SMP index up 0.3%, average price US$1,727/MT
ASB's rural economist Nathan Penny says the bank maintains it 2015/16 and 2016/17 milk price forecasts at $3.90/kg and $6/kg, respectively.
"We expect dairy prices to gradually trend up over the coming season as NZ (and later European) production responds to the current low prices and as Chinese import demand recovers," he says.
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.
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