Why Fonterra accepted defeat in the dairy aisle
OPINION: Fonterra's sale of its consumer dairy business to Lactalis is a clear sign of the co-operative’s failure to compete in the branded consumer market.
Global dairy prices have continued their downward slide.
The Global Dairy Trade (GDT) event overnight concluded with the GDT Price Index down 2%, compared to the previous event.
For NZ farmers, the biggest worry will be the continued drop in whole milk powder prices, the benchmark used by Fonterra to set its milk payout.
WMP price dropped 2.9% to US$2,665/MT.
Key results
AMF index down 1.3%, average price US$5,044/MT
Butter index down 1.7%, average price US$4,045/MT
BMP index up 0.8%, average price US$2,568/MT
Ched index down 4.6%, average price US$3,250/MT
LAC index down 2.7%, average price US$902/MT
RenCas index down 2.9%, average price US$5,327/MT
SMP index up 1.2%, average price US$1,997/MT
SWP index not available, average price not available
WMP index down 2.9%, average price US$2,655/MT
An independent report, prepared for Alliance farmer shareholders is backing the proposed $250 million joint venture investment by Irish company Dawn Meats Group.
Whangarei field service technician, Bryce Dickson has cemented his place in John Deere’s history, becoming the first ever person to win an award for the third time at the annual Australian and New Zealand Technician of the Year Awards, announced at a gala dinner in Brisbane last night.
NZPork has appointed Auckland-based Paul Bucknell as its new chair.
The Government claims to have delivered on its election promise to protect productive farmland from emissions trading scheme (ETS) but red meat farmers aren’t happy.
Foot and Mouth Disease outbreaks could have a detrimental impact on any country's rural sector, as seen in the United Kingdom's 2000 outbreak that saw the compulsory slaughter of over six million animals.
The Ministry for the Environment is joining as a national award sponsor in the Ballance Farm Environment Awards (BFEA from next year).
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