Editorial: Sensible move
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Despite a smaller rise in the global dairy price index last week, farmers will be happy, says Federated Farmers Dairy chairman Andrew Hoggard. He says farmers were hoping for another big rise, similar to the previous two auctions but this did not eventuate.
“At least the price index is rising,” he told Dairy News.
The most recent auction saw prices rise while volumes dropped; Fonterra’s GDT price index climbed 1.1%, with an average selling price of US$3374/tonne.
A total of 22,094 tonnes was sold at the latest auction, falling 3.8% from the previous one.
However, the price rise for Fonterra’s flagship product, whole milk powder (WMP), was down 1% to US$3241/tonne.
Fonterra last month held the 2014-15 milk payout at $4.70/kgMS. And the co-op says WMP prices must reach US$3500/t by April to sustain the $4.70/kgMS payout forecast.
After tumbling late last year, milk powder prices are now rising; GDT prices for whole milk powder have risen 45% and skim milk powder prices 13%.
Fonterra chairman John Wilson says the increase was not sufficient to raise the forecast milk price now.
On the coming season, Wilson says it’s difficult to predict prices so far ahead. “There is so much volatility, we are finding to difficult to forecast on a week-to-week basis, let alone 18 months.”
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.