Fonterra has reported a drop in net profit for the 2012 season and cut its final payout to farmers - citing the negative effect of record breaking milk production
on global dairy prices.
Cluss added that the seasons are having a bigger and bigger effect
on global dairy prices as Oceanic countries fill the gap left by falling EU production.
Not exact matches
Dairy was raised $ 300 million to $ 5.9 billion
on strong
global prices and growing international demand, particularly from Asia.
He noted that
dairy cooperatives in Ireland are responding more positively to events
on global markets, adding that
prices are also rising sharply in Great Britain — and said that some processors in Northern Ireland are buying milk cheaply from local farmers and selling it
on a booming spot market for up to 35 pence (43 cents) a liter.
Some pressure is still expected to build
on global commodity
prices in this year's second quarter, in line with the northern hemisphere milk peak, Rabobank's latest
dairy quarterly says.
Where the
price for
dairy products
on the
global market has gone up by 80 per cent in the past few years, farm returns have risen only 15 per cent.
It is essential that co-ops would at all times put
Global Dairy Trade results, both positive and negative, in proper perspective, including when they decide
on February milk
prices, IFA
Dairy Chairman, Sean O'Leary has said.
This is despite a three - way
global bidding war for Warrnambool Cheese and Butter, which made it the world's most expensive
dairy company
on a
price - earnings multiple.
The weakening dollar is offsetting declines in
global grain
prices on the back of a strong international crop and is a tailwind for Victoria's
dairy farmers.
Northland Rural Support Trust co-ordinator Julie Jonker said the recent fall in
global dairy milk
prices came
on the back of decent payouts in the last couple of years.
Dairy products are New Zealand's largest commodity export and lower global prices are putting pressure on the nation's dairy farmers, weighing on the outlook for economic growth and putting dairy sector debt on the Reserve Bank's radar as a growing risk to financial stabi
Dairy products are New Zealand's largest commodity export and lower
global prices are putting pressure
on the nation's
dairy farmers, weighing on the outlook for economic growth and putting dairy sector debt on the Reserve Bank's radar as a growing risk to financial stabi
dairy farmers, weighing
on the outlook for economic growth and putting
dairy sector debt on the Reserve Bank's radar as a growing risk to financial stabi
dairy sector debt
on the Reserve Bank's radar as a growing risk to financial stability.
Federated Farmers Northland
dairy chairman Ashley Cullen said the latest forecast
price was not surprising given that
global dairy prices have been
on a downward trend in the last two months.
New Zealand
dairy company Fonterra said its interim profit more than doubled as low
global milk
prices gave the company a boost but dragged
on farmers» incomes.
Dairy commodity
prices rose today the third time running
on the
Global Dairy Trade (GDT) auction platform.
The
Global Dairy Trade (GDT)
Price Index declined by 3.1 % today - the first fall in the average price on the platform since the beginning of Au
Price Index declined by 3.1 % today - the first fall in the average
price on the platform since the beginning of Au
price on the platform since the beginning of August.
Prices on the Fonterra - owned
Global Dairy Trade (GDT) auction platform rose today for the first time since March.
Commodity
prices on the
Global Dairy Trade (GDT) platform rose 9.9 % yesterday - the fourth increase in a row.
Dairy commodity
prices fell 7.9 % at the latest
Global Dairy Trade (GDT) auction - the third decrease in average
prices on the platform in a row.
UK farming union pleas calling
on dairy companies and cooperatives not to talk down the market may fall
on deaf ears, as indicators from Australia suggest the
global economy is dictating farm gate
prices.
Bell Potter notes Bega has been the beneficiary of favourable
dairy commodity
pricing and a consolidating sector, but has now «closed its discount
on global peers».
The
Global Dairy Trade (GDT) Price Index, a weighted average of percentage changes in dairy commodity prices on the Fonterra owned platform, has risen 42.2 % over the last three auct
Dairy Trade (GDT)
Price Index, a weighted average of percentage changes in
dairy commodity prices on the Fonterra owned platform, has risen 42.2 % over the last three auct
dairy commodity
prices on the Fonterra owned platform, has risen 42.2 % over the last three auctions.
Another spike in
global dairy commodity
prices should mean a bit more cream
on this season's Fonterra payout and a positive payout start to the new season, but the record
prices will likely run out of road after mid-year, economists suggest.
Russia's ban
on imported agricultural products, including
dairy products, is due to end in December 2017, boosting
global dairy prices, says an industry report.
On a macro level,
dairy pricing will continue to further be influenced by
global events.
The report said the
global dairy market had already been well
on its way to a correction in 2014 - from previous record - high
prices.
According to the company's SEC filings, food
price increases during 2013 have made them more wary of the effects of
global warming
on their food, and the company expects there to be «additional
pricing pressures
on some of those ingredients, including avocados, beef,
dairy and chicken during 2014.»