Fonterra holds forecast payout drops dividend UPDATE – Synlait increases forecast

March 25, 2015

Fonterra is maintaining its forecast milk payout for the current season but is dropping the proposed dividend.

In a newsletter to shareholders, chair John Wilson said:

  • We are holding the forecast Farmgate Milk Price at $4.70 per kgMS.
  • However, we are lowering our forecast dividend to 20-30 cents per share, resulting in a forecast Cash Payout of $4.90 – $5.00.
  • The Board has declared a 10 cent interim dividend to be paid on April 20 (the record date is April 10).
  • The half-year results will be below your expectations, in a period when the Milk Price is low and the forecast dividend range is being reduced.
  • The results are due to tough conditions in dairy globally, with volatility in production and pricing, and further impacts of inventory valuation realities after our record Milk Price last year. . .

 

  • In summary, the results:
    • Forecast Cash Payout for the 2014/15 season, maintained at $4.90 – $5.00
      • Forecast Farmgate Milk Price $4.70 per kgMS
      • Estimated full year dividend of 20-30 cents per share
    • Revenue $9.7 billion, down 14 per cent
    • Normalised EBIT $376 million, down 7 per cent
    • Net profit after tax (NPAT) $183 million, down 16 per cent
    • Interim dividend of 10 cents per share.

Farmers will be relieved the milk payout is not being reduced.

UPDATE:

Synlait has increased its forecast milk price.

Synlait Milk has increased its forecast of the market milk price for the FY2015 season from $4.40 per kgMS to a range of $4.50 – $4.70 per kgMS.

“The market has recovered faster than expected, but recent volatility has shown us it still remains fragile,” said John Penno, Managing Director.

Mr Penno also acknowledged how financially difficult the current season is for suppliers and says this increased forecast market milk price range will be well received.

“Cash flows are incredibly important for our suppliers, particularly as they head into winter. We indicated in February that our next update would be in May, but given current market conditions, I’m pleased we can provide one now”.

Mr Penno added that this update will enable Synlait suppliers to manage their finances with more certainty and a corresponding increase in advance rates will further support this.

“We believe the market will continue to recover in the medium term as consumption expands and production growth slows in response to lower pricing. However, we remain mindful of the additional milk growth likely to come from Europe as milk production quotas are removed on April 1”.

“We will continue to keep an eye on the market and expect to update our forecast market milk price towards the end of May 2015”.

 


Rural round-up

March 18, 2015

A champion at work and play – Rick Powdrell:

For generations New Zealand has been blessed with numerous elite athletes from the wide variety of codes our sports mad nation participates in.

Through those generations we have seen a number of supreme elite athletes that have been outstanding in their particular sport, an athlete we describe as one out of the box.

Our generation has been privileged to witness ‘one out of the box’- shearer David Fagan. He has set numerous records, winning over 600 open events while been an inspiration to aspiring shearers and the farming community.

His record of 17 national championships, 16 Golden Shears titles, five individual world titles, seven world team titles and 10 world records is legendary and unsurpassed. . .

 The politics of effluent – Chris Lewis:

I have to say that when I entered farming politics, I never expected that a significant chunk of the conversations I would be having would be about the stuff that comes out of the back end of a cow.  The polite term is ‘effluent’ of course, but what is not polite is the significant impacts and costs involved with managing it.

Part of Waikato Federated Farmers role is to hold our regional council to account when warranted, and effluent has been a major bone of contention. However they are there to do a job, as are we, and sometimes it is just as important to celebrate them. Just as farmers feel we are always being criticised in the media, I imagine councils do too and as we well know this can result in an ill informed perspective being held by the public.

In the last six months the Waikato Regional Council have set up an Effluent Working Group that has worked with stakeholders such as councillors, council staff, dairy industry leaders and myself, to help navigate a better model of management going forward. . .

Fonterra confident $755 million price tag for Beingmate stake is good value - Fiona Rotherham:

(BusinessDesk) – Fonterra Cooperative Group said the $755 million price tag for 18.8 percent of Shenzen-listed Beingmate Baby & Child Food represents good value and will deliver long-term value to the world’s largest dairy exporter.

The transaction, valued at 3,464 million RMB ($755 million) is well above the $615 million Fonterra indicated it would cost for up to a 20 percent share last year when the deal was first announced.

But chief financial officer Lukas Paravicini said the $615 million was a net figure, once the proceeds from the sale of Fonterra’s under-utilised Darnum plant in Australia into the joint venture it’s setting up with Beingmate are taken off the purchase price. . .

Third ANZ Young Farmer Contest Grand Finalist Named:

James Hoban is the third Grand Finalist to be named in the 2015 ANZ Young Farmer Contest.

The twenty-nine year old took first place at the Tasman Regional Final in Kirwee on Saturday 14 March after a very close and tense Evening Show.

Mr Hoban went home with a prize pack worth over $10,000 including cash, scholarships and products and services from ANZ, FMG, Lincoln University, Ravensdown, AGMARDT, Silver Fern Farms, Honda, Husqvarna and Vodafone. . . .

Matua Crowned Winemaker of Year And Champion Wine of Show:

Chief Winemaker Nikolai St George added some impressive bling to the Matua awards cabinet on Saturday night at the 2015 New Zealand Royal Easter Show Wine Awards, triumphing over all to take home the Royal Easter Show Trophy for Champion Wine of the Show in addition to the Pullman Hotels Trophy for Champion Syrah for the 2013 Matua Single Vineyard Matheson Syrah. With an additional two gold medals, 10 silver and two bronze, St George then took to the stage again to claim the Royal Agricultural Society Gold Medal for Wine Maker of the Year, which he also won in 2013. . .

 Federated Farmers Exec wins Golden Lamb Award:

Federated Farmers is thrilled one of their own has taken out this year’s Beef & Lamb Golden Lamb Awards.

Rick Powdrell, Federated Farmers Meat & Fibre Chairman says “Hamish Buchanan has outdone himself and should be incredibly proud of what he has achieved.”

“The Golden Lamb Awards is a challenging competition in its quest to find the highest yielding, most tender and tasty lamb in New Zealand. For our Tararua Meat & Fibre Chair to take that national title at such a young age is very impressive.” . . .

 

 


GDT drops 8.8%

March 18, 2015

Fonterra’s GlobalDairyTrade price index dropped 8.8% in this morning’s auction.

That’s disappointing after six successive increases and may or may not be a consequence of the threat to lace infant formula with 1080.

gdt18.5.15


Rural round-up

March 11, 2015

Federated Farmers receives threat to contaminate dairy infant formula product:

Federated Farmers has confirmed it has received a threat to sabotage New Zealand infant formula with the pesticide 1080.

The anonymous letter was received at Federated Farmers Wellington offices in late November.  It was addressed to the Chief Executive Graham Smith.

The letter was accompanied by an enclosed plastic bag containing a powder.

Federated Farmers gave the letter and bag to the Police. . .

Fonterra Acknowledges Threat Investigation:

Fonterra Co-operative Group Limited acknowledges the announcement by the New Zealand Police and the New Zealand Government about an investigation into a criminal threat relating to the Government’s use of Sodium monofluoroacetate (1080) poison as pest control to protect the country’s native flora and fauna.

The Government said today that there was no health risk to consumers. It has assessed the likelihood of the threat being carried out as ‘extremely low’. For further information please go to: http://www.foodprotection.govt.nz

Fonterra Chief Executive Theo Spierings said the criminal threat targeted New Zealand and the entire dairy industry. . .

Westland says its products are safe:

Westland Milk Products, New Zealand’s second biggest dairy cooperative, says there is no evidence that the safety of its products has been compromised by a threat to contaminate infant and other dairy formula with sodium monoflouroacetate (1080).

CEO Rod Quin says, “We are very confident that our products are secure while within our manufacturing and distribution systems,” he says. . .

 

Synlait Milk confident in its food safety systems:

Synlait Milk is confident that its food safety systems and security standards protect the integrity of its products.

They have been specifically designed to protect against threats such as that announced today by the New Zealand Police and Ministry for Primary Industries (MPI) said Managing Director Dr. John Penno.

“Food safety and product quality is our highest priority. Our standards and systems reflect this,” said Dr. Penno. . .

NZ infant formula among safest in world:

Mothers in New Zealand and around the world can be assured that infant formula sourced in New Zealand is among the safest available anywhere, says the Infant Nutrition Council.

Chief Executive Jan Carey deplored the anonymous threats made to Fonterra and Federated Farmers.

She says infant formula manufacturers and exporters in New Zealand have full confidence in the safety of their products and in the security of their manufacturing processes.

“These products made in New Zealand are safe and always have been safe.

“We are absolutely confident about the safety of infant formula manufacturing in New Zealand and the products sold in supermarkets. . .

Nominations Open for Beef + Lamb New Zealand Sheep Industry Awards 2015:

Nominations are now open for this annual event that champions the country’s top performing sheep farmers, breeders, and industry innovators.

The fourth Beef + Lamb New Zealand Sheep Industry Awards will take place in Invercargill on Wednesday 1 July 2015.

“It’s fitting that the New Zealand sheep industry recognises and rewards its top performers, and in doing so profiles the significant contribution it makes to the New Zealand economy,” says Beef + Lamb New Zealand (B+LNZ) chief executive, Dr Scott Champion.

“Productivity levels have improved dramatically over the past 20. Lambing percentages are 20 per cent higher than they were in 1995, and lamb carcase weights are up 28 per cent. . .

 Future of Farming – NZ Landcare Trust:

Former Parliamentary Commissioner for the Environment and current Chair of WWF-NZ Dr Morgan Williams was the guest speaker at a recent Community Catchment Management Workshop organised by NZ Landcare Trust in Murchison. The programme also included presentations from community farming representatives, who highlighted the benefits and successes of community involvement within projects in this region.

Dr Williams began by voicing his support for the work rural communities are doing in sustainable catchment management projects, before outlining his perspectives on broader global and national issues shaping agriculture. . .

 

Career Changes Clean-up in Auckland/Hauraki Dairy Awards:

The three major winners in the 2015 Auckland/Hauraki Dairy Industry Awards had all switched careers to dairy farming in recent years.

The 2015 Auckland/Hauraki Sharemilker/Equity Farmers of the Year, Evan and Jan Billington had been in the New Zealand Police and teaching until seven years ago, while the region’s Farm Manager of the Year, James Foote, had been a professional rugby player, and the 2015 Auckland/Hauraki Dairy Trainee of the Year, Royce King, was a plumber and gas fitter. . .

 All-Rounder Wins Waikato Dairy Awards Title:

The 2015 Waikato Sharemilker/Equity Farmer of the Year, Aaron Price, has it all – he’s a young, fit, professional, married man with a plan. He’s also persistent and great to have in the community.

Mr Price, aged 29 years, took out the major title at last night’s 2015 Waikato Dairy Industry Awards, with his win netting him $22,000 in prizes.

The other big winners at the region’s awards dinner held at the Claudelands Events Centre were Paul and Kate Manion, the 2015 Waikato Farm Managers of the Year, and Brett Steeghs, the Waikato Dairy Trainee of the Year. . .

Housing cows not the only way to increase production –  Wayne McNee:

The recent visit by Professor Aalt Dijkhuizen, the president of Topsector Agri and Food in the Netherlands, raised some interested points about how New Zealand dairy farmers can learn from their Dutch counterparts.

But there was a flaw in his argument – profitability and efficiency did not seem to feature highly.

The two go hand in hand here. Profit is the ultimate goal for New Zealand dairy farmers, regardless of the system or technology utilised.

The best way to make a profit is by breeding animals that will efficiently, and repeatedly, convert feed into quality, high-value milk. . .

 Fledgling agri-food course whetting student appetites:

A new multi-disciplinary degree course taking food production beyond the farm gate and onto the world stage is experiencing 150 per cent growth in new enrolment numbers in only the second year it has been offered at Lincoln University.

Developed to meet the needs of an industry decrying a lack of graduates prepared for careers in the agri-food supply chain the Bachelor of Agribusiness and Food Marketing degree (B.AFM) has gone from 20 students in 2014 to 50 students this year.

It is one of the success stories at Lincoln University’s Te Waihora campus which has seen good growth in new student enrolments in 2015, both for New Zealand and international students. . .

Moving stock? Think about your Theileria risks:

Industry body DairyNZ is warning farmers to assess the risks to their herds from the tick-borne disease Theileria if they are moving stock this autumn and winter.
.
DairyNZ veterinarian and technical policy advisor, Nita Harding, says stock out at grazing such as heifers that will be coming onto the farm could pose a risk, or be at risk of Theileria, depending on the situation on farm.

Nita says farmers can help the industry and veterinarians manage and prevent the spread of the disease if they are moving cattle between Theileria zones this season. . .

Giesen stamps mark in China:

Giesen Wines is earning a growing following in China, where it has been exporting for the past five years.

Its wines recently won acclaim at China’s largest and most prestigious wine competition, CWSA (China Wines & Spirits Awards), which brings together winemakers from all over the world to compete in a blind tasting. Giesen’s haul included a trophy, two double golds, five golds, and it was named the CWSA Marlborough Winery of the Year.

General manager Kyle Skene said Giesen’s total wine portfolio is exported to China, including Giesen Estate, The Brothers (Reserve) and Single Vineyard series. Its wines are sold across 12 Chinese cities and seven provinces. . . .


1080 protesters threaten infant formula

March 10, 2015

An email to suppliers from Fonterra chair John Wilson tells us that police  are investigating a criminal threat to contaminate infant and other formula in an apparent protest over the use of 1080 poison in pest control.

  • The Police say that even though there is a possibility that the threat is not genuine, they are treating it seriously and have a full investigation underway.
  • The threat is not specific to Fonterra or our brands.
  • It is a criminal threat designed to cause fear to generate a political outcome.
  • We can assure customers and consumers that our own testing programmes confirm our products are secure and free of 1080.
  • We are confident the right testing and security measures are in place to protect the quality and safety of our products.

We fully support the action being taken by the NZ Police and Government.

The Ministry for Primary Industry gives the background:

Fonterra and Federated Farmers received anonymous letters in late 2014. These letters were accompanied by packages of powder, which tested positive for 1080. Police were alerted immediately.

The letters contained a threat to release infant and other formula contaminated with 1080 to consumers. This contamination was to occur unless New Zealand stopped using 1080 for pest control by late March. The person or people making this threat say they intend to run an international media campaign to publicise their threat and pressure the government to stop using 1080. . .

The  media release says:

The Ministry for Primary Industries (MPI) is working closely with Police to respond to a criminal threat to contaminate infant and other formula in an apparent protest over the use of 1080 in pest control.

MPI Deputy Director-General Scott Gallacher says the Government’s first priority is protecting the health and wellbeing of consumers.

“We are confident that New Zealand infant and other formula is just as safe today as it was before this threat was made. People should keep using it as they always have,” Mr Gallacher said.

“People should feel equally confident about using imported infant formula which has to meet New Zealand’s strict food safety requirements and is equally secure in the retail chain.

“The ability for anybody to deliberately contaminate infant and other formula during manufacturing is extremely low. Regardless, we encourage people to be vigilant when buying infant and other formula. Our advice is always to check packaging for signs of tampering. We are reinforcing that advice as a result of this blackmail threat.

“New Zealand’s food safety model is among the best in the world. New Zealand manufacturers maintain high levels of security as a normal routine. Security and vigilance has been significantly increased since this threat was received.”

Since the threat was made, the Ministry for Primary Industries – with the support of multiple government agencies, manufacturers and retailers – has put additional measures in place to further protect infant formula products, including:

  • strengthened security measures in retail stores
  • enhanced milk and milk product testing, including a new 1080 testing programme
  • increased vigilance by all relevant players in the supply chain
  • extra physical security at manufacturing premises
  • an audit programme to confirm dairy processing facilities continue to maintain the highest level of security and vigilance.

“The combined MPI and industry testing programmes confirm there is no 1080 in infant and other formula. We have tested just over 40,000 raw milk and product samples and we have had no 1080 detections,” he says.

“This criminal threat is designed to cause fear in order to generate a political outcome. It is using food as a vehicle but should not undermine confidence in our world-class food safety system or in any manufacturer.

“This type of threat does occur from time to time internationally.  We are fortunate that this is the first such threat in New Zealand, and that New Zealand has one of the world’s strongest and most secure food safety systems,” he says.

People with any relevant information should contact Police immediately on 0800 723 665 or opconcord@police.govt.nz. Information can also be provided anonymously to Crimestoppers on 0800 555 11.

Visit www.foodprotection.govt.nz for more advice on how to check packaging for signs of tampering, and for information about government’s response to the threat.

This could be a hoax but Fonterra, MPI and the police are taking it very seriously as they should.

However, some markets whose politicians and media aren’t as open as ours might not understand that it is a potential threat.

Ministers for Primary Industries Nathan Guy, Food Safety Jo Goodhew and Trade Tim Groser recognise this and are doing their best to allay concerns trading partners might have:

The Government is taking a criminal threat to contaminate food products very seriously, and is reassuring parents that our infant and other formulas are safe and that extra testing and security measures have been implemented as a further safeguard.

The New Zealand Police and the Ministry of Primary Industries announced today they have been working with a range of agencies to assess and respond to a threat to contaminate infant and other milk formula products in an apparent protest over the use of 1080 pest control.

“We would like to reassure New Zealanders that every step possible has and is being taken to respond to this threat and ensure the ongoing safety of our food products,” says Primary Industries Minister Nathan Guy, Trade Minister Tim Groser, and Food Safety Minister Jo Goodhew.

“While the police have advised the risk is low, we are taking this very seriously. Since the threat was received last November, the Police have been actively investigating, while the Ministry of Primary Industries and other government agencies have been working closely with industry players across the supply chain to insure that all New Zealanders can have the upmost confidence in these products,” says Mr Guy.

“Every resource has been made available and we have treated this as a top priority. Ministers have taken expert advice on how to respond to a threat of this type and made considered decisions.

“The Government’s first priority is the safety of our food for consumers, both here and overseas. We are highly confident our products are safe and new increased dairy product testing gives even greater assurance.

“It’s hugely disappointing that someone would try to damage New Zealand’s strong reputation for top quality products and processes.”

Mr Groser says New Zealand officials have informed authorities in our major markets about this criminal threat and our measures in response.

Mrs Goodhew says New Zealand has a world class food safety system which has been further reinforced by recent improvements.

“We now have a comprehensive new 1080 testing regime for dairy products that gives us a high degree of confidence. MPI has also analysed the supply chain in detail and worked with manufacturers to put in place additional security measures,” she says.

“This new testing is on top of our normal thorough testing, auditing and verification system. It is extremely unlikely that anybody could deliberately contaminate formula during manufacturing, and there is no evidence of this ever having occurred.

“In addition, we have worked with retailers to address any risk to food products at the retail end of the chain.

“The advice to consumers is not to consume any food product that appears to be have been tampered with, and report it to the Ministry for Primary Industries immediately.

“Any signs of tampering are easy to spot. Detailed information on how to check products and further information is available at www.foodprotection.govt.nz.”

If parents or caregivers have any concerns they can contact Plunketline 0800 933 922 or Healthline 0800 611 116.  


Rural round-up

March 10, 2015

Fonterra shifts staff from Auckland to regions – Andrea Fox:

Fonterra has begun shifting out top-level managers from Auckland head office to jobs in the regions as it tackles complaints of a disconnect with its farmers and moves more decision-making back to dairying heartlands.

The co-operative has made appointments to the Waikato, Bay of Plenty and Canterbury regions and is recruiting four more executives for Otago-Southland, Northland, Taranaki and Central Districts.

A large part of their jobs will be to work with farmer-shareholders to understand their needs and to be a communication bridge between farmers with growth plans and local councils, said Fonterra group director of co-operative affairs, Miles Hurrell, to whom they will report.

“Having those decisions made in Auckland is not doing those regions a service, in terms of the farmer base and communications,” he said. . .

Outstanding family operation scoops award :

Central Hawke’s Bay sheep and beef farmers Alastair and Tracy Ormond and Alastair’s son Daniel are the Supreme winners of the 2015 East Coast Ballance Farm Environment Awards (BFEA).

At an awards dinner on March 5, the Ormonds, who farm 620ha of hill-country in the Hatuma district, also collected the Beef+Lamb New Zealand Livestock Award, the Hill Laboratories Harvest Award and the East Coast Farming for the Future Award (sponsored by the Hawke’s Bay Regional Council and the Gisborne District Council).

BFEA judges described the Ormond’s farm ‘Te Umuopua’ as a well-planted and thoughtfully-developed property with land and water managed to the limitations of soil types. . .

‘Trying to be proactive’ to help foreign workers – Hamish Maclean:

Driving skills, English language training and access to services are the top concerns of the growing international workforce in the Clutha district, Clutha District Settlement Support chairwoman Chris Shaw says.

The settlement support group, on hand at the Southern Region Dairy Expo at Clydevale last week, offers a 12 week everyday English course and brings students from its Clydevale base to Dunedin for Literacy Aotearoa’s learner driver’s licence theory tutorial, which has been tailored for people for whom English is a second language. . .

Two tie for title of supreme sheep – Sally Rae:

Sheep breeding is a passion for Kerry Dwyer.

And while it might just be a hobby, he was serious about breeding good sheep, he said after tying with Will Gibson for the title of supreme champion sheep at the recent North Otago A&P Show.

Mr Dwyer’s Suffolk ram, which won champion meat breed, and Mr Gibson’s coloured merino ram, which won champion wool breed, finished with the same number of points when it came to the judging of supreme champion. . .

First Future Leaders Committee Selected:

The NZKGI Executive Committee is pleased to announce the inaugural Future Leaders Committee:

Shaun Vickers of Ballance Agri-Nutrients—Chair
Rikki James of Cameron Farms —Treasurer
Cody Bent of Trevelyan’s Pack & Cool—Secretary
Mary Black of Zespri International
Campbell Wood of Seeka Kiwifruit Industries
Keiran Harvey of Bay Gold Limited

NZKGI President, Neil Trebilco, said the selection process was very competitive. “The calibre of all applicants was very high, making the decision a very difficult one.”

“However we’re confident we have selected a group of passionate and motivated horticulture people who have very diverse backgrounds and different perspectives – a great combination for a strong, effective committee. . .

 

Women Farmers Making it Happen #IWD2015 – Food tank:

March 8th is International Women’s Day, and this year’s theme is “Make it Happen.” All over the world, there are innovative women inspiring us at Food Tank. International Women’s Day is an opportunity to celebrate the success and achievements of women in agriculture, while also calling on more resources and support.

The Open Working Group (OWG) of the U.N. General Assembly recently proposed their Sustainable Development Goals (SDGs), which include the need to achieve gender equality and empower all women and girls. The goals also aim to reduce inequality within and among countries, combat climate change, build resilient communities, ensure access to education, promote healthy lifestyles, end hunger, achieve food security, and promote sustainable agriculture. Women are already making many of these goals happen in villages and cities around the globe. . .

Record wine exports mark the start of vintage 2015:

Wine exports have reached a record high and now stand at $1.37 billion, up 8.2%, propelling wine to New Zealand’s 6th biggest export good.

This strong demand in key markets bodes well for the wine industry, whose 2015 grape harvest is now underway. . .


Rural round-up

March 3, 2015

Bluff oyster season ‘looks promising’:

The Bluff oyster season has opened with predictions it will be a good one.

The season for collecting oysters from one of the world’s last remaining wild fisheries opened yesterday and runs until the end of August.

Niwa says the oyster population has declined from last year because of the shellfish disease bonamia – which is harmless to humans. . .

- Keith Woodford:

[This post was first published in the Fairfax NZ Sunday Star Times on 22 February 2015. It is the fourth of a series of five on Fonterra.  The earlier posts were ‘The evolution of Fonterra’, ‘Fonterra’s jouney’, and ‘Fonterra’s global reach’.]

One of the big challenges for Fonterra has been to determine its overall market position. Is it a marketer of commodities? Or is it a marketer of fast moving consumer goods (fmcgs)? Or is it a marketer of specialist ingredients? Can it be all three?

The challenge of trying to be all three is that the appropriate business culture is different for each market positioning. Commodity marketing is all about logistics, efficiency, and financial discipline. Fmcgs are all about entrepreneurship, creation of brands, being fast on one’s feet, and willingness to take risks. Specialised ingredients require a focus on science and technology. . .

Dairy women look to future – Blake Foden:

New Zealand’s leading female dairy farmers will come together in Invercargill next month to discuss strategies and plan for the industry’s future.

The Dairy Women’s Network will hold its annual conference at ILT Stadium Southland on March 18-19, with a series of workshops and guest speakers focused on the theme of “Entering tomorrow’s world”.

Chief executive Zelda de Villiers said in the wake of a difficult season where most farmers were expecting a low payout, early bird registrations had been lower than anticipated.

While money might be tight, the current conditions made it even more important to attend and look to the future, she said. . .

Rabobank Dargaville celebrates opening:

Rabobank’s newest office in New Zealand celebrated its official opening on Thursday 26 February with a special event held at the Dargaville branch to mark the occasion.

Located in the heart of Dargaville, the new Rabobank branch is located at 94 Normanby Street and has been purpose-built to suit the needs of clients and staff frequently accessing the facility.

Rabobank chief executive officer for New Zealand Ben Russell said he was pleased to see the new premises “come to life”.

“We have been developing our plan to open in Dargaville for some time now and it’s great to see the team open the new building for business,” Mr Russell said. . .

Second Grand Finalist Confirmed:

Matt Bell is the second Grand Finalist to be named in the 2015 ANZ Young Farmer Contest.

The twenty-eight year old contract-milker took first place at the Aorangi Regional Final in Oamaru on Saturday 28 February.

Mr Bell went home with a prize pack worth over $10,000 including cash, scholarships and products and services from ANZ, FMG, Lincoln University, Ravensdown, AGMARDT, Silver Fern Farms, Honda, Husqvarna and Vodafone.
Matt placed third in the 2013 Grand Final and is determined to take out top honours in his final bid to become the ANZ Young Farmer Contest Grand Champion. In his spare time Matt enjoys getting out on his motor-bike, snowboarding and refereeing rugby. . .

Grow your bottom line with new pasture:

 Cost-conscious dairy farmers take heart – even with the lower payout, investing in new pasture remains highly profitable this autumn.

Financial analysis shows spending $1000 on autumn pasture renewal can lead to a gross return of more than $4000 over the next five years, while spending $1000 on palm kernel actually leads to a small loss this season in terms of milksolids.

“Pasture remains the corner stone of feeding cows in the New Zealand dairy industry, and the amount of pasture eaten per ha is widely acknowledged as a key profit indicator,” explains Graham Kerr, pasture systems manager for Agriseeds. . .

 

 


Follow

Get every new post delivered to your Inbox.

Join 1,563 other followers

%d bloggers like this: