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November Dairy Farming Update

Friday, 27 November 2015 at 12:14pm

A visit to South Island farmers by Rabobank’s big guns helped raise spirits this month.  Their global dairy strategist Tim Hunt told an audience of farmers that even though milk prices are at or just above break-even cost of production levels this fall, global supply-demand conditions will likely improve by next summer. Mr Hunt speaking at the Dairy conference said “Pricing will likely enter a sustained upward phase in mid 2016”.  

 

Much of the North Island have had a great spring with a good mix of sun and rain resulting in higher than average pasture growth rates. The east of the South Island is still showing early signs of drought so hopefully some much needed rain will be heading that way over the next couple of weeks. Fonterra shareholders voted on board members and the results has resulted in Director Blue Read being replaced by Ashley Waugh. Chairman John Wilson remains as does Nicola Shadbolt.

 

On a lighter note, Prince Charles visited a Taranaki dairy farm while on his  New Zealand visit this month.  According to the farmer the Prince was very knowledgeable about dairy farming and issues that New Zealand is facing.  He was also impressed by riparian planting of the farm, something which all Fonterra farms are striving for.