Fonterra Co-operative Group (FCG) has announced the permanent appointment of Miles Hurrell as its Chief Executive Officer (CEO), with immediate effect.
Mr Hurrell had been the Co-operative’s interim CEO since August last year.
Fonterra Chairman, John Monaghan says the Co-operative’s Board has been impressed by Mr Hurrell’s leadership and commercial skills as it continued to breathe fresh air into the Co-operative. . .
The sale of Tip Top is crucial to Fonterra’s aim of reducing its debt by $800 million before the end of this financial year, dairy industry commentator Peter Fraser believes.
Fast-moving consumer goods companies can command some very high multiples of earnings when being traded.
Fraser is an economist who advised the Ministry of Agriculture during Fonterra’s restructuring attempt a decade ago and has commented on the dairy industry since. . .
M. Bovisfoundonthreefarms – Sally Rae:
Bulk milk testing from all dairy farms has confirmed Mycoplasma bovis infection on three farms, the Ministry for Primary Industries’ latest stakeholder update says. All three properties had previously known links to the bacterial cattle disease.
Another 51 farms would be further investigated as part of routine surveillance while testing was yet to be completed from about 50 farms that calved later in the season.
Testing would begin shortly after calving because the bacteria was more likely to be shed during times of stress, such as after calving and the start of lactation, the update said. . .
Alex woolhandler to represent NZ at champs – Sally Rae:
It’s bonjour France for Alexandra-based woolhandler Pagan Karauria. Karauria (30) will represent New Zealand at the world championships in Le Dorat in July, after gaining selection at the Golden Shears in Masterton on Saturday night.
Her success was even more remarkable given she suffered life-threatening injuries in a vehicle crash in Central Otago 10 and a-half years ago and has battled with the lasting effects since. . .
Indoor lambing unit is in enviro contest – Joanna Grigg:
Richard Dawkins of The Pyramid has entered his family sheep and cattle business in the 2019 Cawthron Marlborough Environmental Awards and is up against forestry, marine, wine industry, landscape/habitat, community innovation and business innovation entries for the supreme title.
The winners will be named on March 22.
The Pyramid is in contention for the Federated Farmers Award for sheep and beef entries. . .
Farm loan delinquencies highest in 9 years as prices slump – Roxana Hegeman:
The nation’s farmers are struggling to pay back loans after years of low crop prices and a backlash from foreign buyers over President Donald Trump’s tariffs, with a key government program showing the highest default rate in at least nine years.
Many agricultural loans come due around Jan. 1, in part to give producers enough time to sell crops and livestock and to give them more flexibility in timing interest payments for tax filing purposes.
“It is beginning to become a serious situation nationwide at least in the grain crops — those that produce corn, soybeans, wheat,” said Allen Featherstone, head of the Department of Agricultural Economics at Kansas State University. . .