Wellington | Reuters — New Zealand dairy exporter Fonterra is cutting jobs in an effort to shore up its cash flows as a slump in global dairy demand, particularly from No. 1 buyer China, threatens to snuff out the country’s “white gold” rush. Dairy prices have more than halved from record highs scaled in 2013, […] Read more
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Fonterra cuts dairy jobs as ‘white gold’ rush fizzles
Global dairy demand seen picking up only slightly
Wellington | Reuters –– Global dairy prices are expected to pick up only slightly over the next 12 months, New Zealand dairy co-operative Fonterra, the world’s largest dairy exporter, said Thursday. Fonterra said the subdued outlook amid sluggish demand would likely slow the pace of New Zealand dairy output growth, and kept its forecast payout […] Read more
New Zealand declares partial drought, offers farm assistance
Wellington | Reuters — New Zealand has declared a drought in parts of the country’s South Island, offering financial assistance and tax relief to farmers after dry conditions have cut dairy production and increased sheep and beef slaughter rates. The government on Thursday said medium-scale drought conditions were affecting the east coast of the South […] Read more
U.S. burger demand a boon to New Zealand dairy farmers
Wellington| Reuters –– Supersized U.S. demand for burgers is a godsend for New Zealand farmers struggling with weak dairy prices but now earning good money for cows sent to slaughter for beef. Years of low cattle supplies have kept U.S. beef import prices near a record high of around $3 per pound hit last September, […] Read more
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