A downturn in the demand has led to Fonterra cutting its forecast milk prices. The farmer-owned co-operative reduced and narrowed its 2022/23 season forecast range from $8.50 to $9.50 per kilogram of milk solids with a midpoint of $9, to $8.20 to $8.80, with a midpoint of $8.50. At the same time, it updated its forecast milk collections for the 2022/23 season to 1465 million kgMS, down from its previous forecast of 1480 million kgMS. Fonterra chief executive Miles Hurrell says the revised forecast reflects softened demand and while Fonterra is encouraged by increased buying from China, it is too soon to determine the extent of the impact this might have on the rest of the season.
- Herd Improvement Company LIC Is Paying Out More Than $2 Million In Compensation For Supplying Some Dairy Farmers Bad Sire Semen
- Alliance Group Is Rolling-Out Cutting-Edge AI Technology Designed To Identify Eating Quality In Beef And Lamb
- This Week Federated Farmers’ National Council Is Meeting – Colin Hurst Joins Mark Leishman On Round Up
- The New Government’s Backing For Wool In Public Sector Buildings Is A Vote Of Confidence In The Sector, Says Wools Of New Zealand
- Environment Southland Says It Will Continue With Plan Change Tuatahi