Wednesday, 27 March 2013 08:52

Milk payout up

Written by Sudesh Kissun

font size decrease font size increase font size
Print
Email

Fonterra has lifted its 2012-13 forecast payout to $6.12/kgMS.

It represents a milk price of $5.80/kgMS, a 30c increase from the previous forecast and a dividend of 32c/share.
The new forecast reflects a recovery in global dairy commodity prices over the past two months, says Fonterra chairman John Wilson.

"Prices have increased in seven of the last fortnightly auctions on the online trading platform GlobalDairyTrade (GDT). The GDT-Trade Weighted Index is now 26.7% above where it stood in February when the Board issued its last forecast," he says.

"World dairy trade growth is being led by powders (combined whole milk and skim), reflecting strong demand at a time when global supply is constrained."

The co-op also narrowed its earnings per share guidance to 45-50 cents per share.

Featured

Dr Mike Joy says sorry, escapes censure

Academic Dr Mike Joy and his employer, Victoria University of Wellington have apologised for his comments suggesting that dairy industry CEOs should be hanged for contributing towards nitrate poisoning of waterways.

Southland landowners offered catchment funding boost

Environment Southland's catchment improvement funding is once again available for innovative landowners in need of a boost to get their project going.

People-first philosophy pays off

The team meeting at the Culverden Hotel was relaxed and open, despite being in the middle of calving when stress levels are at peak levels, especially in bitterly cold and wet conditions like today.

Farmer anger over Joy's social media post

A comment by outspoken academic Dr Mike Joy suggesting that dairy industry leaders should be hanged for nitrate contamination of drinking/groundwater has enraged farmers.

Editorial: Rural sector deserves better

OPINION: The phasing out of copper network from communications is understandable.

From Nelson to Dairy Research: Amy Toughey’s Journey

Driven by a lifelong passion for animals, Amy Toughey's journey from juggling three jobs with full-time study to working on cutting-edge dairy research trials shows what happens when hard work meets opportunity - and she's only just getting started.

National

Poultry industry, Govt sign landmark biosecurity deal

The Government has struck a deal with New Zealand's poultry industry, agreeing how they will jointly prepare for and respond…

Hawke’s Bay Rescue Helicopter completes 220+ missions in 2025

Thus far in 2025, the Hawke's Bay rescue helicopter crew have completed over 220 missions, resulting in numerous positive patient…

Vegetable grower Alan Wilcox remembered for lifetime of service

Pukekohe vegetable growers farewelled 101-year-old Alan Wilcox in late July, celebrating his many achievements and reflecting the widespread respect in…