Consumer Sentiment Eases

Consumer Sentiment Eases

The Westpac-Melbourne Institute consumer sentiment index fell 1.1% to 82.7 in July as family finances came under pressure.  According to Westpac, fears of persistent inflation and more interest rate rises weigh heavily on the consumer mood. While tax cuts came into...
Beston Extends Trading Halt

Beston Extends Trading Halt

Beston Global Food Company placed its shares in a trading halt last week pending an announcement regarding funding and milk supply. Late last week, the company requested an extension of its trading suspension on the ASX, stating the company is not yet in a position to...
Beston Extends Trading Halt

Mandatory Grocery Code To Be Legislated

The Australian  Government has accepted all recommendations from the Emerson review of supermarket conduct, including a mandatory Food and Grocery Code of Conduct.  The Government has pledged to legislate new fines for breaches of the grocery code which according to...
Beston Extends Trading Halt

Saputo Completes Plant Sale To Coles

Saputo has finalised the sale of its two processing plants in Laverton, Victoria and Erskine Park, NSW to Coles for $105m. Saputo will continue to have fresh milk processed at the two plants. The sale was announced in 2023 and in December, the Australian Competition...
Beston Extends Trading Halt

Beston Delays Milk Payments

Beston Global Food Company has asked its farmer suppliers to wait for full payment of their milk. In April, the processor withheld 15% of farmers farmgate milk price payments. Beston cites cashflow problems and difficult market conditions for the decision to delay...
Beston Extends Trading Halt

Dairy Australia Situation & Outlook

The latest Situation & Outlook from Dairy Australia (DA) shows farmers remain confident about the industry future with the majority still making an operating profit. DA expects milk production to finish 2% to 3% higher YOY in the 2023/24 season at 8.35bn litres....