Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Westland farmers braced for hard season

Westland farmers braced for hard season

Farmer-shareholders of the dairy cooperative, Westland Milk Products, will be watching spending very closely as the country’s number two dairy cooperative has cut 60 cents per kilogram of Milksolids (kg/MS) to a range of $5.40 - $5.80 kg/MS before retentions.

“Given Fonterra’s hold on its benchmark payout forecast, this isn’t exactly the best news to go into spring with,” says Renee Rooney, Federated Farmers West Coast Dairy Chairperson.

“The fact the world produced seven billion litres of milk for export in the first half of 2014 isn’t a secret and hasn’t happened overnight, so this further revision is disappointing.

“It is going to mean some serious belt-tightening on the West Coast. Federated Farmers’ Andrew Hoggard was prescient yesterday when he said for farmers to budget in the mid-five dollar payout range.

“The priority for our guys now is to redo budgets and cashflow. It means talking to your farm advisors and the bank to keep them fully in the loop; I’d run a ‘no surprises’ policy.

“If farmers need help, the West Coast team at Federated Farmers is here to talk to, as is the Rural Support Trust on 0800 787 254.

“Given this is one hell of a drop in less than a month I think we need to ask if Westland had its glass over half full. Like anyone we don’t like bad news but its better to get that news early than be led down the garden path.

“We are definitely going to be asking questions,” concluded Mrs Rooney.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Interest Rates: NZ Dollar Jumps After RBNZ Trims OCR

The New Zealand dollar jumped more than half a US cent after Reserve Bank governor Graeme Wheeler cut the official cash rate by a quarter-point and said the currency needs to be lower, while dropping a reference to criteria that justified intervention. More>>

ALSO:

Drones: New 'World-Class' Framework For UAVs

The rules, which come into effect on 1 August, recognise the changing environment and create a world-class framework that accommodates ongoing development while still ensuring the safety of the public, property and other airspace users. More>>

ALSO:

Scoop Business: NZ Net Migration Reaches New Annual Record In June

New Zealand annual net migration rose to a new record in June as arrivals continued to be bolstered by Chinese and Indian students, while fewer locals departed for Australia. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news