Concerns mount over US-China trade spat
New Zealand trade officials are watching the escalating trade war between the US and China with mounting concern and anxiety.
America's biggest milk producer, Dean Foods, has filed for bankruptcy and is planning to sell assets.
The Dallas listed processor is blaming declining milk sales triggered by increased competition from dairy alternatives such as oat and almond milk.
The company says it plans to use Chapter 11 of the US Bankruptcy Code which allows a debtor to reorganise assets -- keeping the business alive and paying creditors over time.
The company will continue to process milk and supply dairy products to retailers. Customers are expected to receive their dairy products without any interruptions.
Dean Foods is the largest processor and direct-to-store distributor of fresh fluid milk and other dairy and dairy case products in the US. It has 50 national, regional and local dairy brands as well as private labels. It makes ice cream, cultured products, juices, teas and bottled water. It has 15,000 employees.
New chief executive Eric Beringause says the Chapter 11 bankruptcy protection will allow the company to “continue serving our customers and operating as normal as we work toward the sale of our business”.
He claimed the company had a strong operational footprint and distribution network, a robust range of leading national brands and extensive private label capabilities.
“Despite our best efforts to make our business more agile and cost-efficient, we continue to be impacted by a challenging operating environment marked by continuing declines in consumer milk consumption.
“Importantly, we are continuing to provide customers with an uninterrupted supply of high-quality dairy products, as well as supporting our dairy suppliers and other partners.”
Beringause, who joined Dean Foods three months ago, says he took a hard look at its challenges. He said that in recent months the company put in place a new senior management team with a track record of turning around businesses.
According to the most recent Rabobank Rural Confidence Survey, farmer confidence has inched higher, reaching its second highest reading in the last decade.
From 1 October, new livestock movement restrictions will be introduced in parts of Central Otago dealing with infected possums spreading bovine TB to livestock.
Phoebe Scherer, a technical manager from the Bay of Plenty, has won the 2025 Young Grower of the Year national title.
The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards, providing the opportunity to honour both rising talent and industry stalwarts.
Award-winning boutique cheese company, Cranky Goat Ltd has gone into voluntary liquidation.
As an independent review of the National Pest Management Plan for TB finds the goal of complete eradication by 2055 is still valide, feedback is being sought on how to finish the job.
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