by Freshagenda | Dec 5, 2024 | Global, Prices
Fonterra has raised the midpoint of its forecast milk price for 2024/25 to NZ$10kgMS, with a range of NZ$9.50kgMS—NZ$10.50kgMS, reflecting continued strength in the global dairy market. CEO Miles Hurrell said Chinese demand recovery and ongoing strong demand from...
by Freshagenda | Oct 3, 2024 | Global, Prices
There was an inevitable correction in the EU butter market in the past week, with a large fall in EEX futures of 8-12% for Nov-24 to Feb-25 contracts between Thursday and Tuesday. That was followed by a partial recovery of as much as a third of those losses (for the...
by Freshagenda | May 30, 2024 | Global, Prices
Fonterra has announced an opening farmgate milk price range of NZ$7.25kgMS—NZ$8.75kgMS with a midpoint of NZ$8kgMS. Fonterra also narrowed its 2023/24 range to NZ$7.70kgMS-NZ$7.90kgMS, maintaining a midpoint of NZ$7.80kgMS. The midpoint opening price for Fonterra’s...
by Freshagenda | Apr 4, 2024 | Global, Prices
The all-milk price rose in February according to USDA’s latest Ag Prices report. The all-milk price of US$0.47/l was up 2.5% from the prior month but still 4.6% lower YOY. Average MPP farmgate margins rose by 11% between January and February to $10.5/cwt, reflecting a...
by Freshagenda | Mar 21, 2024 | Global, Prices
Fonterra New Zealand has released interim results for FY2024 reporting net profit after tax jumped 23% to NZ$674m, driven by increased EBIT (+11%) and a dip in financing costs, down 43%. Fonterra reported a drop in earnings of NZ$383m for its Ingredients category...
by Freshagenda | Feb 15, 2024 | Global, Prices
Fonterra New Zealand has lifted its forecast farmgate milk price range by NZ30c to NZ$7.30kgMS—NZ$8.30kgMS, bringing the midpoint to NZ$7.80kgMS following five strong GDT events. Fonterra’s forecast earning guidance for FY24 of NZ50c—NZ65c remains unchanged. CEO...
