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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

 

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