Thursday, 28 May 2020 10:36

Synlait's milk price drop

Written by Staff Reporters

font size decrease font size increase font size
Print
Email

Synlait chief executive Leon Clement.

Canterbury milk processor Synlait has reduced its 2019-20 forecast base milk price by 20c to $7.05/kgMS.

Synlait chief executive Leon Clement says that in line with other commodities, dairy prices have eased significantly this year.

“As a result (prices) are lower than we were anticipating when the forecast was set in January.”

Synlait’s opening forecast for the 2020- 21 season is $6/kgMS.

Clement says COVID-19 has created significant global uncertainty.

“We don’t yet have a clear view of COVID-19’s economic impact, but we do know it will impact demand, resulting in our decision to release a conservative opening forecast for the 2020- 2021 season.”

More like this

Synlait shares take a hammering

Synlait shares take a hammering

Troubled milk processor Synlait's share price is taking a hammering as nervous investors offload their stakes.

Takeover bid?

Takeover bid?

OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.

Penno's 25-year leadership role over

Troubled milk processor Synlait’s co-founder John Penno has stepped down from the board.

Poor investments backfire

OPINION: Synlait's financial woes won’t be going away anytime soon.

Another record result for Westland

Not all milk processors in New Zealand are struggling; just look at Westland Milk Products on the West Coast.

Popular Reads

Red meat exports slump, thanks to China

Weaker pricing and demand from China continue to impact New Zealand red meat export earnings.

Penno's 25-year leadership role over

Troubled milk processor Synlait’s co-founder John Penno has stepped down from the board.

Meat co-op seeks capital from farmer shareholders

Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.

Meat co-op dilemma

Meat processor Alliance Group's cash-strapped farmer shareholders face a dilemma - either pour more money into the co-operative or risk…

Passion for farming delivers award

James and Debbie Stewart from Dairylands in Manawatu impressed judges and took out the 2024 Fonterra Responsible Dairying Award.

Featured

Purua's transformation capped with Ahuwhenua award

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.

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.

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.

MPI job cuts 'won't disrupt organisational structure'

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 purchases Bostock assets

Scales Corporation is acquiring a number of orchard assets from Bostock Group.

Ferdon sale tops $24,000

Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.

National

Canada's flagrant dishonesty

Deeply cynical and completely illogical. That's how Kimberly Crewther, the executive director of DCANZ is describing the Canadian government's flagrant…

Couple's Ahuwhenua win 57 years ago still tasting sweet

This week the winner of the prestigious Ahuwhenua Trophy for the top Māori Dairy farm will be announced at a gala…

OAD milking affects protein content

Once-a-day milking (OAD) can increase or lower the amounts of proteins in milk, according to a new study published in…

Bank helps clients reduce emissions

Rabobank says climate change creates both risks and opportunities for the bank and its clients and that the food and…

Regional leader award

Eastern Bay of Plenty farmer Rebecca O’Brien was named the 2024 Dairy Women’s Network (DWN) Regional Leader of the Year.

Machinery & Products

Feed pad with rubber matting hailed as game changer

For Otago farmers Michelle and Rogan Borrie, a newly constructed feed pad on one of their three farms has been…

Ploughs gone from CNH portfolio

CNH has sold its agricultural plough business, including the production facility in Sweden, along with the Overum brand name.

Landpower opens ag retail hub

Landpower recently opened its new agricultural retail hub in Yaldhurst, Christchurch.

Tractor, harvester IT comes of age

Over the last halfdecade, digital technology has appeared to be the “must-have” for tractor and machinery companies, who believe that…

Spot fertiliser applicator keeps costs in check

The Kverneland Pudama principle delivers spot placement of fertiliser in maize, rather than continuous fertiliser placement. As a result, it…

» Latest Print Issues Online

dairynewscover

ruralnewscover

winegrowercover

Milking It

Substitute for cow's milk?

OPINION: Scientists claim to have found a new way to make a substitute for cow's milk that could have a…

Breathalyser for cows

OPINION: The Irish have come up with a novel way to measure cow belching, which is said to account for…

» eNewsletter