A rollercoaster ride for Waikato dairy farmers
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Fonterra has reduced its 2020-21 forecast farmgate milk price range midpoint by 5c.
Having sold most of its milk for the 2020/21 season, Fonterra says it is now in a position to narrow this season’s range - from $7.30 - $7.90/ kgMS to $7.45 - $7.65/kgMS.
Chief executive Hurrell says, at a mid-point of $7.55/kgMS , 2020/21 would be the second year in a row with the forecast farmgate milk price above $7/kgMS.
Hurrell says since March, global dairy prices have settled, somewhat.
“This is why we have revised our midpoint down 5 cents.”
He referred to the “extraordinary” March Global Dairy Trade (GDT) event, where prices jumped 15% and contributed to the increase in its forecast 2020/21 farmgate milk price range.
Back in March, the average price for whole milk powder was over US$4,350/metric tonne. In the last three GDT events, however, the average price has reduced to close to US$4,100/metric tonne. And GDT butter prices have gone from almost US$6,000 per metric tonne to below US$5,000 per metric tonne for the first time since January, Hurrell notes.
China’s Ambassador Wang Xiaolong says bilateral economic and trade cooperation between China and New Zealand has made significant and rapid progress.
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.