Bank's desire to be part of the solution
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
The Global Dairy Trade price index was up 6.6% overnight, with the all-important whole milk powder up 9.9%.
Key Results:
AMF index up 4.7%, average price US$3,797/MT
Butter index up 6.6%, average price US$2,871/MT
BMP index up 7.7%, average price US$1,661/MT
Ched index down 0.8%, average price US$2,889/MT
LAC index up 3.7%, average price US$741/MT
RenCas index up 16.3%, average price US$6,161/MT
SMP index up 2.1%, average price US$1,965/MT
WMP index up 9.9%, average price US$2,265/MT
ASB rural economist Nathan Penny says the overall result was stronger than their expectations heading in; they expected WMP prices to lift by between 5% and 7%.
The bounce was also broad-based. On top of the WMP increase, casein prices surged 16%, while butter and BMP rose 7% and 8%, respectively. Only cheddar prices recorded a fall.
"From here, we expect rapidly tightening global supply to lift prices further over 2016," he says.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
World Veterinary Day falls on Saturday 27 April.
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