Free workshops to bolster farmer financial skills
Free workshops are being offered around the country to help farmers take more ownership of their farm business finances.
Rabobank dairy analyst Emma Higgins says the overnight dairy auction delivered good and bad news.
Global dairy prices have ended a three-month positive run on Global Dairy Trade (GDT); the price index declining for the first time since March.
The GDT price index slipped 0.8% from the previous auction two weeks ago to US$3,434. Some 21,171 tonnes of product was sold, down from 22,004 tonnes at the previous auction.
Starting with the good news, Higgins says fat continue setting record prices.
Anhydrous Milk Fat (AMF) lifted 4.4% to US$6,885/tonne – GDT average price record – while butter gained by 2.9%, with the average price at US$5,768/tonne (again, another GDT record).
Lower milk production from Europe across the peak of the season and less fat stocks, coupled with continued strong demand for milk fats from developed markets, are underpinning these outstanding prices, she says.
On the flipside, cheese prices lost some ground, dropping 3.8% to sit at an average price of US$4,121 /tonne.
Higgins says Europe has been gearing up their cheese production as they work through the spring flush.
Whole milk powder (WMP) price dropped a modest 3.3% to US$3,022 /tonne. Higgins says the result is in line with its forecast.
“It’s not surprising given there is less fresh product available as we move into our seasonal hiatus here in New Zealand over the next couple months. However, we still expect to see increased buying from the Chinese as we move further into the second half of the year.’
Skim milk powder (SMP) moved up a fraction (1.4%) to US$2,218 /tonne. No SMP has been entered into European intervention stores for the third week in a row, providing price support for fresh SMP product.
Key Results
AMF index up 4.4%, average price US$6,885/MT
Butter index up 2.9%, average price US$5,768/MT
BMP not offered
Ched index down 3.8%, average price US$4,121/MT
LAC index down 11.1%, average price US$869/MT
RenCas index down 8.0%, average price US$6,104/MT
SMP index up 1.4%, average price US$2,218/MT
WMP index down 3.3%, average price US$3,022/MT
Federated Farmers president Wayne Langford is claiming “some real success” on the 12 policy priorities it placed before the Coalition Government.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird…
OPINION: Synlait's financial woes won’t be going away anytime soon.