Fonterra farmers will receive a final milk payout of $6.52/kgMS for last season.
The 2016-17 payout, for season ending May 31, includes a milk price of $6.12/kgMS and a dividend of 40 cents per share.
The co-op announced the final payout as part of its 2017 annual results.
Revenue increased by 12% to $19.2 billion, with rising prices offsetting a 3% decline in volumes at 22.9 billion liquid milk equivalent (LME). Normalised EBIT of $1.2 billion was down 15% as a result of reduced margins across the business which also influenced net profit after tax, down 11% at $745 million. . .
The Ministry for Primary Industries has now completed more than 20,000 tests for the cattle disease Mycoplasma bovis.
The disease, which causes illness in cattle including mastitis, abortion, pneumonia, and arthritis, was first detected in New Zealand in a South Canterbury farm on July 21.The bacterium is an unwanted organism under the Biosecurity Act 1993. . .
Lamb numbers are expected to be between 5-10 per cent higher this season than last, Silver Fern Farms says.
This equates to about 20 million lambs, the meat processor said, and could be good news for farmers because demand from China and the United States is strong.
Cattle numbers are tipped to be similar or slightly up, with some of the retentions out of the dairy herd last year expected to boost bull and even heifer numbers.
“We expect lamb numbers to be up this coming season. All the feedback we are receiving is that the North Island in particular has seen good lambing,” chief executive Dean Hamilton said in a market forecast. . .
Fonterra names new CFO – Jonathan Underhill:
Fonterra Co-operative Group named Marc Rivers as chief financial officer, a position he currently holds at Roche Pharmaceuticals in Switzerland, and said he will take up the job on March 1 next year.
Mr Rivers will take up the CFO position left vacant when Lukas Paravicini was transferred to the position of chief operating officer, global consumer and food service in June. Mr Paravicini took over from Jacqueline Chow. . .
Farming is not just a job, it’s a lifestyle – Lyn Webster:
Some New Zealanders choose a business and lifestyle which takes them away from the cities.
Living rurally is often very isolated. Farmers harness water, which is abundant and otherwise runs out to sea, and turn this resource into crops, or pasture which is then used to feed animals for meat or milk.
This is an expensive and risky investment not for the faint hearted. Some days your survival depends on uncontrollable and fickle factors – weather, exchange rates, commodity prices and government policy.
Often success in farming has taken generations to achieve and many never make it. Farms are often passed down from father to son with the next generation willingly (or unwillingly in some cases) taking on the reins for the family farm. . .
America’s love affair – Jane Vesty:
New York PR director, New Zealander Jane Vesty, says our wines can ride the ‘premiumization’ trend
It’s hard to imagine a better confluence of trends for New Zealand wine in the U.S. – now the world’s largest wine market with annual sales of US$60 billion.
New Zealand wines have become the third highest imported wine into the U.S. by value at a time when American wine drinkers, especially millennial women, are trending toward premium wines that are also lighter and more elegant and sophisticated. These are perfect conditions for the Sauvignon Blanc juggernaut that accounts for 94% of our U.S. sales. . .