Wednesday, July 6, 2022

My Daily Digest: December 4, 2020

Dairy looking good as year draws to a close Fonterra boosted its forecast payout for 2020-21 to a mid-range of $7 this morning and has had a pleasing quarter.

It’s biggest customer China has recovered pretty well from covid-19 thus far, and its buyers had boosted prices on the GDT platform.

And, farmers are looking to bank the gains with milk production up a touch on last year. Advance payments will adjust to the new forecast so that will pad the bank balance before Christmas.

But chief executive Miles Hurrell told BusinessDesk he has a wary eye on the China-Australia relationship. He’s hopeful diplomacy will prevail but that, along with slowing supply chains and virus resurgences in other markets means there are still a few headaches for the big co-operative.

But, people are still buying dairy and New Zealand farmers are still producing it with no covid-related restrictions. It’d be great if 2020 could at least end on a high note.


Bryan Gibson


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