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.
The second to last Global Dairy Trade (GDT) event for the 2017-18 production season saw the auction’s price index down 1.1%.
Whole milk powder price index was down 1.5% to US$3231/metric tonne.
Rabobank’s dairy analyst Emma Higgins says the drop in WMP price coincides with Fonterra revising upwards their production forecast for the full season to -2% (from -3% previously) to 1.5billion kgMS.
“Weather has improved for most parts around the country and in fact total New Zealand production for the season to date (March 2018) is only trailing marginally behind last season at just -0.3%.
“More generally, New Zealand product pricing tends to wane over the coming weeks as we move into our seasonal production hiatus and sentiment trails off as the focus shifts to the Northern Hemisphere.”
However, there still remains demand for fresh SMP and a late spring in the Northern Hemisphere delaying production has resulted in tighter fresh inventories.
“As such, we saw positive price support for SMP this morning, with a lift of 3.6% bringing the average SMP price just shy of the US$2000 mark.
“New Zealand product is still priced at a premium over European sourced SMP. And while demand for fresh is strong, old EU SMP stocks are seeing some clearing movement.”
Results
AMF index down 1.9%, average price US$6,032/MT
Butter index unchanged, average price US$5,647/MT
BMP index up 0.5%, average price US$1,990/MT
Ched index up 3.1%, average price US$4,024/MT
LAC index up 0.6%, average price US$616/MT
RenCas index down 10.5%, average price US$5,177/MT
SMP index up 3.6%, average price US$1,999/MT
WMP index down 1.5%, average price US$3,231/MT
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.
Rural trader PGG Wrightson has revised its operating earnings guidance, saying trading conditions have deteriorated since the last market update in February.
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.