Dairy giant Fonterra has boosted its forecast payout to farmers to record levels as international prices keep rising.
The farmers co-operative yesterday raised its forecast payout for this season by 60c to $7.90-$8 per kg of milksolids before retentions.
With milk production expected to be broadly in line with last season an $8 payout could be worth about $10.3 billion.
Chairman Sir Henry van der Heyden said the increased forecast milk price reflected strengthening international dairy prices during recent months.
More at link.
Fonterra's payout is approximately 40% more than the U.S All Milk Price for 2010. More power to them.
At exactly what point in time are U.S. dairy farmers supposed to reap the benefits of the global economy?
What exactly is this payout from Fonterra? Is it a coop dividend? Or when the article says "payout" does that mean it is the price being paid to the farmers? So what roughly would this equate to an All Milk Price for farmers in New Zealand converted to our dollars per hundredweight?
ReplyDeleteAt exactly what point in time are U.S. dairy farmers supposed to reap the benefits of the global economy?
ReplyDeleteJust as soon as you pay your $80.
Rusty
sure lets get all of us to blindly send in 80 bucks so sometime down the line they can fill us in on what the plan is. its like nancy pelosi saying lets get this bill passed so we can find out whats in it. i'll keep my 80 might need it for groceries before we get done
ReplyDeleteWHoa John 40% more!! My contacts in NZ get about $8cwt! Not 40% more
ReplyDelete