Fonterra cements position as the big cheese!
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
It's been another bad morning for the dairy industry.
This morning's GlobalDairyTrade auction saw the GDT price index down 7.9%, its third consecutive drop.
Worryingly, milk powder prices tumbled; whole milk powder was down 11% to US$2148/tone and skim milk powder down 8% to US$1851/tonne.
Fonterra says whole milk powder prices should stay around the US$3000/tonne to mark to justify the current forecast payout for the season; the co-op is forecasting a milk payout of $4.60/kgMS.
This week it increased its forecast earnings per share range for the current financial year to 45-55 cents, a lift of 5c.
Fonterra chairman John Wilson told journalists that he expects global dairy prices to firm in the first half of next year.
Key Results of this morning's GDT event;
AMF index down 5.9%, average price US$3,430/MT
Butter index up 5.6%, average price US$2,709/MT
BMP index down 1.0%, average price US$1,825/MT
Ched index down 5.0%, average price US$2,874/MT
LAC index down 2.0%, average price US$503/MT
RenCas index down 4.4%, average price US$5,250/MT
SMP index down 8.1%, average price US$1,851/MT
WMP index down 11.0%, average price US$2,148/MT
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Horticulture NZ chief executive Nadine Tunley will step down in August.