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Dairy prices edge higher as protein demand holds firm
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Fonterra earnings to hit top end of forecast ahead of full-year results
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KiwiSaver changes open door to farm ownership
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Dairy prices edge higher as protein demand holds firm
Global dairy prices edged up point-nine percent overnight as strong protein demand offset continued weakness in milk fats and a sharp fall in cheddar.
Skim milk powder was the standout, surging five-point-three percent to outperform expectations — moving above whole milk powder in price for the first time in recent months. Whole milk powder was essentially flat, easing just point-one percent despite Fonterra offering nearly eight percent more product than the previous auction, suggesting additional supply was absorbed comfortably.
Cheddar hit a five-year low on the platform, falling six-point-six percent as global cheese supply from New Zealand, the US, EU and Australia all tracked higher year-on-year.
Butter and anhydrous milk fat continued to ease on ample cream supply.
Fonterra earnings to hit top end of forecast ahead of full-year results
Fonterra has signalled full-year underlying earnings will come in at the top end of its sixty to seventy cents per share guidance range.
Chief executive Richard Allen says as the co-op closes its accounts for the year, it's clear it has maintained solid performance through 2026 and expects earnings to support a strong full-year dividend.
The co-op's dividend policy targets a payout of sixty to eighty percent of full-year earnings. Full-year results are due towards the end of the month.
Fonterra is currently forecasting a farmgate milk price midpoint of nine dollars-twenty-five per kilogram of milk solids for the current season.
KiwiSaver changes open door to farm ownership
Farm workers will soon be able to use their KiwiSaver savings to buy their first home, under legislation introduced this week.
The KiwiSaver First Home or Farm Amendment Bill addresses two rules that have prevented some rural workers from accessing first-home withdrawals.
Farm workers who live in employer-provided accommodation have been unable to withdraw their savings because they are required to live on the property where they work.
The Bill also allows first-time farm buyers to use KiwiSaver when purchasing a farm through a company, trust or partnership they majority own and control, provided it will be their main home.
Finance Minister Nicola Willis says the changes recognise the realities of rural life, while Commerce and Consumer Affairs Minister Cameron Brewer says they could help young people working in agriculture take their first step into farm ownership.
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