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Dairy Australia Fortnightly Update 7/03/2014

Dairy Australia

Categories: Dairy, Commodities

Key points for the fortnight ending 21/02/2014 include:

  • Further decreases in milk powder prices drove a 4% fall in the GDT Price Index at this week’s GlobalDairyTrade (GDT) auction (event 111).
  • Fonterra last week announced an increase in its forecast 2013/14 farmgate milk price to NZ$8.65/kg MS (around $8.01/kg MS in Australian terms).
  • Murray Goulburn (MG) has ramped up its communication with suppliers on the co-operative’s plan to establish an Australian Securities Exchange (ASX) listed unit trust.
  • Bega Cheese Limited (BGA) has announced to the ASX that the company’s subsidiary Tatura Milk Industries (TMI) has received a position paper from the ATO stating that TMI was not a co-operative for tax purposes over tax years 2009-2011—and so owes another $13.3 m in tax.
  • The Australian federal government’s primary agricultural research body, ABARES, is forecasting world dairy prices to hit higher average levels in 2014-15.

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 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 – A Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879