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.
The GlobalDairyTrade price index was up 1.4% over night, with whole milk powder up 5.5%.
The lift follows better sentiment across markets generally, says ASB rural economist Nathan Penny. For example since the last auction, the S&P 500 has lifted around 4%.
The rise was bang on expectations, he says. WMP led the way, posting a 5.5% increase (although WMP remains around 13% lower than as at the end of 2015). Casein recorded the largest increase (up 14.9%), while SMP rose a more modest 1.3%.
ASB is maintaining its 2015-16 and 2016-17 milk price forecasts at $3.90/kgMS and $6/kgMS, respectively.
Key Results from last night' s GlobalDairyTrade Event 159:
AMF index down 8.3%, average price US$3,254/MT; Butter index down 0.5%, average price US$2,811/MT; BMP index down 2.9%, average price US$1,452/MT; Ched index down 0.7%, average price US$2,528/MT; LAC index up 7.9%, average price US$613/MT; RenCas index up 14.9%, average price US$4,569/MT; SMP index up 1.3%, average price US$1,802/MT;
WMP index up 5.5%, average price US$1,974/MT.
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.
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.