Medals galore for Fonterra cheeses
Fonterra cheeses are continuing their golden run at the annual New Zealand Cheese Awards.
Fonterra Shareholders' Council chairman, Duncan Coull, said today's interim results announcement was in line with forecasts, and the expectations of the council.
Coull noted the board's decision to pay out an interim dividend of 20 cents per share, and to accelerate the final dividend payments, would be very well-received by farmer shareholders and go some way to alleviating immediate on-farm cash-flow pressures.
"With the forecast milk price remaining at $3.90 per kg/MS, farmer shareholders' expectations are that the value-add side of their business will provide them the much talked about counter-cyclical benefits.
"The results in this regard are encouraging in that the business, on the back of weaker global demand, has moved volume into higher value which has contributed to the lift in interim profit.
"A clear focus on driving cash into the business is also evident in terms of free cash flow and a reduction in gearing ratio.
"It is important that the board continues to drive the business forward as the performance of some business units, such as Australia, Venezuela and China Farms are having a negative effect on the business.
"However, the council looks forward to the current positive momentum continuing and translating into more cash for our farmers."
Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.
Shipping disruption caused by Houthi rebels in the Red Sea has so far not impacted fertiliser prices or supply on farm.
The opportunity to spend more time on farm while providing a dedicated service for shareholders attracted new environmental manager Ben Howden to work for Waimakariri Irrigation Limited (WIL).
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.
OPINION: We have good friends from way back who had lived in one of our major cities for many years.
OPINION: European farmers are going to extreme lengths to have their message heard.
OPINION: The hustle and bustle of one of Bangkok's most popular fast food outlets may feel a world away from…