Word of the day

26/05/2021

Onglet – a hanger steak; a flat cut from the diaphragm or lower belly.


Yes Sir Humphrey

26/05/2021


Yes Sir Humphrey

26/05/2021


Let’s raise a glass of milk

26/05/2021

It’s only a forecast but dairy farmers, their staff, everyone who services and supplies us and the wider economy can be cautiously optimistic about this:

Fonterra today announced an opening forecast Farmgate Milk Price range for the 2021/22 season of $7.25 – $8.75 per kgMS, with a midpoint of $8 per kgMS.

It also narrowed its 2020/21 forecast Farmgate Milk Price range, which reduces the midpoint by 5 cents to $7.55 per kgMS, and reported a strong performance for the nine months ending 30 April 2021. However, it cautions there will be significant pressure on earnings in the last quarter of the year due to the normal seasonal profile of the business combined with tightening margins.

CEO Miles Hurrell says that the improving global economic environment and strong demand for dairy, relative to supply, are sitting behind the Co-op’s $8 midpoint of its 2021/22 forecast Farmgate Milk Price range.

“At this point it would see the Co-op contributing more than $12 billion to the New Zealand economy next season.  . .

Let’s raise a glass of milk to that.


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