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 first Global Dairy Trade (GDT) of the new season has delivered a mixed bag of results.
The GDT price index rose slightly - 0.6% to an average price of US$3395/tonne.
However, whole milk powder (WMP) prices softened overnight, dropping almost 3% to US$3143/tonne.
Rabobank dairy analyst Emma Higgins says any rise in GDT price index is welcome.
“We’ll take that: last year, the index price was 46% lower (US$2,329/tonne) for the first auction of the 2016/-7 milk production season.”
Commenting on the drop in WMP prices, Higgins says weaker prices for contracts across October and November 2017 suggest the market is anticipating strong New Zealand milk supply following robust opening price signals and highlighted by additional WMP volumes added to the GDT across these periods.
All other dairy products are in positive territory. Cheese gets a significant mention with a 14.5% climb in this latest event and SMP leapt up almost 8% (albeit from a low base). European SMP intervention product has trickled to a standstill: no SMP has been entered into intervention for the latest week.
Oceania dairy fats continue to cream it.
Higgins says average butter prices soared 3.3% to US$5,631/tonne – the highest average price for butter in GDT history – helped by a European shortage of product.
Key results
AMF index down 1.2%, average price US$6,569/MT
Butter index up 3.3%, average price US$5,631/MT
BMP index up 5.8%, average price US$2,092/MT
Ched index up 14.5%, average price US$4,285/MT
LAC index up 1.0%, average price US$971/MT
RenCas index up 4.8%, average price US$6,849/MT
SMP index up 7.9%, average price US$2,156/MT
WMP index down 2.9%, average price US$3,143/MT
Rural trader PGG Wrightson has revised its operating earnings guidance, saying trading conditions have deteriorated since the last market update in February.
It's been a bumper season for maize and other supplements in the eastern Bay of Plenty.
Leading farmers from around New Zealand connected to share environmental stories and inspiration and build relationships at the Dairy Environment Leaders (DEL) national forum in Wellington last month.
AgriZeroNZ, a joint venture fast-tracking emissions reduction tools for farmers, is pouring $5 million in a biotech company to develop a low emissions farm pasture with increased productivity gains.
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Te Awamutu dairy farmers Doug, Penny, Josh and Bayley Storey have planted more than 25,000 native trees on the family farm, adding to a generations-old native forest.
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.