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Dairy prices fall against expectations
World dairy prices went against market expectations and fell 2.9 per cent decline at the latest GlobalDairyTrade auction.
World dairy prices went against market expectations and fell 2.9 per cent decline at the latest GlobalDairyTrade auction.
COMMENT: Next Wednesday will be another major milestone in the NZ dairy industry. Dairy giant Fonterra will unveil its latest results.
Futures market pricing suggests tomorrow morning's GlobalDairyTrade auction will be flat to slightly better.
Federated Farmers and Dairy NZ have been holding around the country aimed at helping farmers, particularly sharemilkers, through the downturn.
Bill English has ruled out a bailout for struggling dairy farmers after Andrew Little said the Govt should consider emergency relief similar to droughts.
Fonterra has scored an own goal in extending payment terms for suppliers because some frustrated companies are secretly hiking their prices.
Bank analyst has confidence in the sector's ability to adapt but says that some of those ill-prepared for the downturn will go to the wall.
The long-term outlook for the dairy sector is strong, but the immediate future is highly concerning, says Mark Lister.
It is incomprehensible Fonterra's board could have persistently got it so wrong.
Sharemilkers and young people are leaving the industry as pay opportunities worsen.
Fonterra says it remains financially sound, despite high debt levels.
The kiwi dollar has dropped this morning after Fonterra cut its farmer payout for the second time this year.
Global diary giant Fonterra is moving into what could be the smartest new building in Auckland, but as farmers slash costs the move has been criticised as unjustifiable.
Embattled dairy farmers were offered a glimmer of hope when world prices firmed for the first time this year.
Rise of 1.4 per cent ends a four-sale losing streak.
A big Commerce Commission report has found there's not enough competition to justify any deregulation of New Zealand's dairy sector.
A recovery in the dairy sector could be two or three years away while low oil prices continue to weigh on the market, says a US industry leader.
Fonterra's total borrowings now more than $7.5 billion, writes Brian Gaynor.
As farmers face the prospect of even lower prices, they are being asked whether the dairy giant's governance needs revision, writes Jamie Gray.
Westpac is forecasting a Fonterra farmgate milk price of $4 this season and $4.60 in 2016/17.
Fonterra has upped production of lactoferrin - a special, high-value protein known in the industry as "pink gold" - at its Hautapu plant, near Cambridge.
Dairy prices are expected to weaken again by up to 10 per cent at this week's global dairy auction as market continues to suffer from over-production.
Fonterra's latest farmgate milk price forecast is already under downward pressure after dairy prices fell for the third time in a row at this morning's GlobalDairyTrade auction.
Dairy farmers are bracing themselves for still more falls in product prices at tomorrow's Global Dairy Trade auction.
Fonterra's multi-million dollar stoush with food giant Danone is due to be fought behind closed doors in Singapore next week
Asia's biggest economy looks to limit manufacturers to three labels and impose stricter safety procedures.
Fonterra posed the question of whether a board stacked with farmers has the right skills to drive a global business.