Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
The co-op is now forecasting its New Zealand milk collections for the current 2017-18 season to be 1,480 million kgMS, down from its forecast in November 2017 of 1,525 million kgMS.
Last season was itself was negatively impacted by weather conditions.
The co-op says wet conditions experienced by farmers at the beginning of spring improved from late October and into November, but recent dry weather is continuing to impact soil moisture and pasture quality right across the country. Dry conditions are expected to continue, and even if the rain forecast for early in 2018 eventuates, it will not be enough to bring production back to previously anticipated levels.
Fonterra says it has begun to take volumes of whole milk powder off the Global Dairy Trade platform in response to lower milk supply, and has a programme in place to carefully manage sales both on and off GDT for the rest of the season as a result of the current weather conditions.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
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