Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
A downward trend in global dairy prices has triggered a revision of Fonterra’s forecast farmgate milk price for this season.
The co-operative has revised its milk price range – from $8.75-$10.25/kgMS to $8.50-$10/kgMS.
The midpoint reduces from $9.50 to $9.25 but current advance payment rate of $5.70/kgMS is unchanged.
Fonterra chief executive Miles Hurrell says revision will be disappointing for farmers but it reflects a number of factors - including the recent downward trend in global dairy prices driven by some short-term softening in global demand, and the general impact of inflation on purchasing behaviour.
“However, we believe the longer-term outlook for dairy remains positive,” says Hurrell.
Dairy prices on Global Dairy Trade has been dropped almost every auction since March. Over the past 11 auctions, only one (June 7) recorded a rise in the GDT price index.
Whole milk powder prices, used as a benchmark to set the milk price, has also been on the decline- dropping from US$4757/metric tonne on March 1 to US$3417/MT in the last auction two weeks ago.
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.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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