Home' Otago Southland Farmer : April 5th 2013 Contents 5.4.13 Farmer
The Base: Blackdale 447 Proven CPT Terminal sire index leader.
Tick the boxes: Fertility Z Meat Z Feet Z Bone Z Wool Z
PEDIGREE IS ONE THING,
ROMEX (Romney Texel Cross)
the Ultimate Sheep
FIRST CROSS ROMDALES
Sheep that Work for You.
Contact Laurie or Sharon Paterson
0274 365 747 ÿ 0274 353 500 ÿ 03 207 2835
or Ross 0274 283 326
Waikaka 914/08 is ranked 3rd on the Central Progeny Test
Terminal list for meat and growth. We lamb all our hoggets and
only retain twins throughout our entire flock.
Keeping it simple; structure, twins and carcass = profit!
Fonterra profit surge lifts returns
Surge in worldwide dairy prices enables co-op to raise forecast payout
By DIANE BISHOP
Price reflection: Fonterra chairman John Wilson said the increase in forecast payout to $6.12 per kilogram of milk solids
this season reflected a recovery in global dairy commodity prices over the past two months.
Compared with the same period last year include:
Record milk volumes collected up 6 per cent
Total external sales volume growth of 8 per cent to
2.1 million metric tonnes
Normalised EBIT (Earnings Before Interest and Tax)
of $693 million was up 26 per cent
Net Profit After Tax of $459 million, up 33 per cent
Economic Debt to equity of 40 per cent, an
improvement from 47 per cent last year
Earnings per share up 21 per cent
An interim dividend of 16 cents per share, up 4
cents per share
The Easter bunny came early for
southern dairy farmers with
Fonterra lifting the forecast
payout to $6.12 per kilogram of
milk solids this season.
The increase in payout by more
than 30 cents, up from $5.80kgMS,
was a welcome nest egg for dairy
farmers, many of whom had made
the shift to 16-hour milkings --
milking three times in four days --
in recent weeks because of
ongoing dry conditions.
The higher forecast was on the
back of a strong first half
performance by Fonterra, which
saw net profit after tax increase
by 33 per cent to $459 million,
following robust performance by
NZ Milk Products and significant
lifts in sales volumes in Fonter-
ra's Asian and Latin American
Fonterra chairman John Wilson
said the new forecast reflected a
recovery in global dairy com-
modity prices over the past two
There had been excellent spring
and early summer growing con-
ditions across most of the country
leading to strong growth in New
Zealand dairy production and
record volumes in the first half.
However, ongoing dry conditions
in the North Island had seen
many farmers switch to once-a-
day milking to maintain the
condition of their herds.
Federated Farmers Southland
president Russell MacPherson
said the payout was good news for
the wider farming industry.
Grain farmers, sheep farmers and
fertiliser companies would all
benefit from the higher payouts,
Dairy farmers would have the
confidence to buy grain to feed
their cows, and buy baleage from
sheep farmers, as well as spread
fertiliser. Fonterra chief executive
Theo Spierings said the commis-
sioning of Fonterra's new Darfield
site was one of the factors that
enabled NZ Milk Products to
process higher peak milk flows
and deliver a strong performance.
The Darfield Drier 1 can process
2.2 million litres of milk at peak in
one day and produce 15 metric
tonnes of milk powder each hour.
Council plans 5.34pc
general rate increase
Keen to hear: Otago Regional Council chairman
By DIANE BISHOP
The Otago Regional
Council is proposing to
invest $113,000 in the
new Tarras irrigation
scheme in their draft
Annual Plan which has
just been released.
And now the public is
being asked to com-
ment on it.
Otago Regional Council
(ORC) chairman Ste-
phen Woodhead said
the draft plan provides
for a general rate
increase of 5.34 per
cent, with the general
rate budgeted to be $5.02
GST), compared to $4.76
million in 2012-13.
A proposal to invest in
an irrigation scheme
for the Tarras district
accounts for 2.4 per cent
of the increase.
Mr Woodhead said the
while the council had
not yet decided whether
to invest in the Tarras
Water Ltd scheme, the
Long Term plan has
been amended to allow for the
proposed $3.5 million investment.
The ORC has a number of activities
for which targeted rates are charged,
including flood and drainage
schemes, public passenger transport,
and improving air quality in certain
parts of the region.
In total, $10.7 million (excluding
GST) is proposed to be collected
through targeted rates, compared to
$11 million in 2012-13.
The draft Annual Plan includes
provision for implementing Plan
Change 6A to the Otago Water Plan,
which focuses on controlling con-
taminants discharging from land to
water, instead of controlling land use
activities and nutrient inputs.
Submissions on the draft plan close
on May 3, with hearings scheduled
for the week beginning May 13.
''I hope as many people as possible
who are interested in this council's
activities will take the time to make
a submission as part of this
important planning process,'' Mr
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