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

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news