The midpoint of its forecast is now $6.80, which is great considering how volatile the year has been.
China’s appetite for our milk products has returned with gusto and Rabobank is now predicting the rest of South East Asia will be lucrative markets for NZ exporters in the longer term.
But it would pay to set budgets carefully. We’re seeing covid-19 flare up again in Europe while in the United States it never left. If China gets a second wave, things could change very quickly.
Exchange rates are also fluctuating, complicating matters further.
Still, given how the world looked in March, things are a lot more positive for our food producers.
MfE steadfast on winter grazing dates
Dates by when grazed winter cropped paddocks must be resown were included in freshwater legislation to provide regulatory compliance, Government officials say.
Happy Valley Nutrition wins OIO approval
New Waikato dairy company Happy Valley Nutrition has been granted Overseas Investment Office (OIO) approval to buy 309.25 hectares of land for the development of its dairy factory near Otorohanga.
Fonterra boosts milk price forecast by 40c
Fonterra has increased the midpoint of its forecast milk price range to $6.80/kg MS, up from $6.40, while retaining its current +/-50c per kg MS range.
Lewis Road changes ownership
Top-end dairy foods brand Lewis Road Creamery has been acquired in full by Southern Pastures, the agricultural investment fund that owns 20 dairy farms in Waikato and Canterbury.
New genetics company created by farmers
A group of farmers have created a new company to challenge the status quo of how genetics are delivered to the New Zealand dairy industry.