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

 

Fonterra forks out for Christmas

The 20c increase in advance payments will deliver $300 million more into farmers’ bank accounts, more than half of it before Christmas.

 

Supply and quality commitment rewarded

Wairarapa sheep and beef farmer Neil Morison has been named Atkins Ranch Producer of the Year for two out of the past three years.

 

Dairy prices peak for Christmas

The highest Global Dairy Trade (GDT) price index rise since July and the second-highest for 2020 helped bring a turbulent year to a satisfactory close for New Zealand dairy farmers.

 

Meat sector’s five-year targeted plan

The meat sector has outlined four goals for the next five years, which it says will target the sustainable growth of value and enhance people, animals and the environment.

 

Natural fibres could be a game changer

The launch of a new natural fibre company is set to re-emerge wool and hemp to the forefront of a global sea-change in consumer preference.

 

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