Troubled Australian dairy co-operative Murray Goulburn has called for an end to media speculation over a potential buyout—even calling into question the likelihood of a takeover itself.
The European Energy Exchange (EEX) and Global Dairy Trade (GDT) have signed a letter of intent to evaluate the possibility of working together to set up and operate an auction mechanism for dairy products originating in Europe.
The US and Mexico dairy sectors have issued a joint list of trade priorities for the modernization of NAFTA, protecting of generic cheese names, and Canada’s “sky-high” dairy tariffs.
Murray Goulburn Co-operative (MG) reported a 10% loss in revenue equivalent to AU$371m (US$293m) for the full year ending June 30, 2017, largely driven by a decline in fluid milk sales.
Glanbia Ireland has announced a milk & feed loyalty scheme (Glanbia Loyalty Scheme), including a five-year fixed milk price element and a dairy feed component.
Global food prices have risen for the third month in a row, hitting a 31-month high partly led by higher prices for butter and cheese, according to the FAO food price index compiled by the UN.
Preserving and updating certain elements of NAFTA is crucial to the future of the US dairy industry, USDEC president and CEO Tom Vilsack told a House Agricultural Committee.
New Zealand’s Fonterra Co-operative Group Limited has announced an increased forecast Farmgate Milk Price for the upcoming 2018 season, to NZ$6.75 (US$5.09) per kilogram of milksolids (kgMS).
The Senate Appropriations Committee has passed legislation that makes significant updates to the Margin Protection Program for dairy farmers (MPP-Dairy).
Cereal production in the EU is likely to dip in the short-term, as heatwaves and drought in various regions have a bearing on EU exports and on existing stocks, the Commission reports.
Milk production is expected to accelerate worldwide especially in India where it will grow 49% by 2026, contrasting with the steady decline of milk consumption in developed markets like the US, according to the OECD-FAO Agricultural Outlook 2017-2026.
