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Dairy Australia Fortnightly Update 07/02/2014

Dairy Australia Fortnightly Update

Categories: Dairy, Commodities

Key points for the fortnight ending 07/02/2014 include:

  • A new Farm Bill is close to reality in the US, where President Obama is expected to sign the Agricultural Act of 2014 into law today (US time).
  • Commodity prices shrugged off a late increase in offer volumes and the Chinese New Year holiday at this week’s GlobalDairyTrade auction (event 109), where the GDT Price Index rose 0.5%.
  • European dairy giant Arla Foods has announced a €332million (A$488m) investment program aimed at boosting capacity and improving energy and water efficiency.
  • US regulator Commodity Futures Trading Commission (CFTC) has registered NZX as a Foreign Board of Trade under the US Commodity Exchange Act.
  • Bulla Dairy Foods (Bulla) announced last week that it would build a new milk separation plant at its Forest Street, Colac site.
  • United Dairy Power (UDP) earlier this week confirmed that its founder Tony Esposito had agreed to sell the business to Hong Kong businessman William Hui.
  • Saputo (SAP) announced to the Australian Stock Exchange (ASX) on 6 Feb that it had a 79.13% interest in Warrnambool Cheese & Butter (WCB).

Source: Dairy Australia

 

Disclaimer: Whilst all care has been taken in compiling the information, the information should not be relied upon as substitute for professional advice where necessary. Rural Bank Limited accepts no responsibility for the accuracy, completeness or timeliness of the information and disclaims all liability in relation to any loss or damage suffered by the use of or reliance upon any information contained herein or in any attachment or annexure hereto by any person. Rural Bank Limited ABN 74 083 938 416 AFSL 238042.