Dairy giant Fonterra has increased its forecast Farmgate Milk Price. It sits between 7-90 and 8-90 per kilo of milk solids. Fonterra CEO Miles Hurrell says the lift is a result of continued demand for New Zealand dairy relative to supply. He says the $8.40 midpoint for 2021’22 equals the highest Farmgate Milk Price paid by the co-op and is a result of continued demand for New Zealand dairy relative to supply.. The pay-out would see almost $13 billion flow into regional New Zealand through milk price payments this season. Overall global milk supply growth is forecast to be below average driven by a slowdown in US production due to the increased cost of feed and this is supporting the current pricing levels. Miles Hurrell says it’s still early in the season and a lot can change with increased volatility when prices are high.
- Energy Costs Forcing Some Indoor Vegetable Growers To Shut Their Doors, Or Change What They Grow
- Bad News Last Week With European Free Trade Agreement But The Good News, NZ’s Red Meat Hit $1.1 billion In Export Sales During May
- Rabbits Beware The Otago Regional Council Is Out To Get You
- NZ’s Best Honey Producers Named At Apiculture New Zealand National Honey Competition
- More And More Sheep And Beef Farms Being Sold To Overseas Interests And Will Be Converted To Forestry