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NZ Herald
a day ago
- Business
- NZ Herald
NZX futures support $10 milk price for 2026 season amid strong demand
But if that scenario pans out, then dairy's contribution to the economy would increase by about $10 billion over two years, compared to previous, more moderate milk price outcomes of around $8.50/kg, DairyNZ estimates. 'It's very strong at the moment if you are a dairy farmer in New Zealand, with milk price futures sitting at $10/kg,' NZX derivatives sales manager James Atkinson said. 'A lot of dairy farmers - if not all - will be making a profit at that level, so that's a really good sign,' he said. Driving the milk price futures higher have been Global Dairy Trade prices for the two pivotal products, wholemilk powder and skim milk powder. Indications from the smaller 'pulse' auctions - which occur between the GDT auctions - point to another increase at the next auction on August 6. 'Overall, demand has been pretty sticky and robust over a period of time when volumes are increasing in New Zealand,' Atkinson said. 'There is a lot more volume coming on going into spring, and Fonterra is putting volume on the GDT platform, but prices are managing to stay at historically high levels.' NZX's head of dairy, Cristina Alvarado, said global production trends look to be running in New Zealand's favour. 'We know that production in Europe has not gone well for the key countries, Germany and France, with the little ones keeping it afloat,' she said. 'Production in New Zealand has been doing well, but the fact that the other key regions are not doing that well keeps up interest in demand,' she said. Production in the US is also increasing, but the imposition of world trade tariffs is adding an element of uncertainty to that market. Meanwhile, domestic dairy production in China was declining while demand had remained steady, she said. Atkinson added a steady New Zealand dollar at around US58c to US61c had probably helped keep milk price futures at the $10/kg mark. Further out, NZX futures for the 2027 season point to $9.50/kg. ANZ's latest agri report said good pasture growth over winter meant there was no shortage of feed. The bank said a surge in imports of the feed supplement, palm kernel expeller (up 34% in the past year) should provide extra support. Last season's milk production was up 3%, the largest year-on-year gain since 2014-15. 'It is hard to make large gains two years in a row, but, with the stars aligning, growth of 1-3% should be attainable in 2025-26 if the weather cooperates,' the bank said. Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.
Yahoo
08-07-2025
- Sport
- Yahoo
Diamondbacks 3, Royals 9: Oh, There Were Fireworks
Game Summary Eduardo Rodriguez came in to this game riding a bit of a hot streak, but three batters in to the game, it was obvious that hot streak was over. Throughout E-Rod's less than 5 innings of pitching tonight, he seemed to alternate between pitches nowhere near the zone and meatballs right down Broadway. The results of such a performance were predictable. 9 runs, 8 earned, and 3 home runs allowed. All of this came with the Royals riding a significant offensive skid, coming into Phoenix with a week long homer-less streak. Well, as was pointed out in the GDT, if your offense is having a rough go of it, Chase is a great place to 'get right.' Advertisement The bullpen once again did an excellent job in a low leverage situation (for the year, D-Backs pitchers have a 3.07 ERA in low leverage vs a 4.73 ERA overall), not allowing a single run and never facing more than a single runner above the minimum in any inning. The offense, also did their best to keep this a low leverage affair. After getting 2 runs back in the first, the offense was silent, squandering an opportunity or two but mostly not able to string multiple hits together and build an inning. The Diamondbacks will have a short turnaround with the early game tomorrow, so thankfully we won't have to dwell on this one very long. The game result not being what we'd wanted, I still hope everyone enjoyed the fireworks and barbecue! Loss Probability and Box Score Courtesy FanGraphs Outside the Box Score Eduardo Rodriguez gave up a home run three batters in to the ball game. Who was to blame? The broadcasters, of course. Bert had just finished saying how the Royals had the least amount of homers in the league to date and hadn't hit a home run in a week. The broadcaster jinx lives and I'll never be convinced otherwise. Ketel Marte got a leadoff single to start the offense for the Diamondbacks in the first, but it was about as well placed (read: lucky) as a ball could be. He popped up the first pitch about halfway down the right field line. It had an expected BA of .030 according to Baseball Savant, but it landed equally about a foot between the first baseman, right fielder and foul line. The Diamondbacks played some small ball to cash in their first 2 runs of the game. After Ketel reached on a pop up, Domo walked and both runners were moved up 90 feet on a swinging bunt by Lourdes Gurriel. Domo and Ketel came home on the combo of a sac fly by Geno and groundball single through the right side of the infield by Josh Naylor (on the first pitch, of course). In the second inning, the Royals loaded the bases in front of Bobby Witt on what should have been a sacrifice bunt. Blaze Alexander, starting at third for Geno tonight, fielded the ball cleanly but had to double pump on the throw when Ketel wasn't near first trying to cover from his usual spot at second. Blaze did deliver a clean throw, but Ketel clanked it and everyone was safe. The merry-go-round continued from there as the Royals plated 3 runs in the inning. The broadcaster jinx came back in a good way, though not as impactful as in the first inning, when Bert was recounting how Tim Tawa was grinding through an 0-for-24 stretch. Tawa promptly singled up the middle. Diamondbacks squandered a scoring opportunity in the third when they had runners at the corners with no outs and the heart of the order at the plate. Geno hit a fly ball to medium right field and Domo tagged and started home before slamming on the brakes. They throw ended up about a third of the way up the third baseline, so I'd like to think that Domo would've been able to score on that, but Geraldo decided to wait it out and while staying at third with still less than 2 outs. Unfortunately, Naylor hit into a double play and no runs scored in the inning. E-Rod nearly had Witt retired to lead off the fourth. Witt foul tipped a pitch into Herrera's mitt, but Jose couldn't hang on to it. Witt singled on the next pitch, then came home on a Sasquatch dinger. Tim Tawa made a stupendous play to end the fifth and retire Bobby Witt for the first time in his first 4 at bats of the evening. A sinking line drive to straightaway center very well could have dropped in for an RBI single, but Tawa made a headlong dive and gloved the ball just inches above the turf. Advertisement Player of the Game I'm deciding to leave this space for the player most responsible for the game's outcome. In a win, that will continue to be the best player. In a loss? Well, tonight that person was Eduardo Rodriguez. With a loss probability of over 50%, he was singlehandedly responsible for the loss and then some. Looking at the numbers, he was still getting Whiffs and hitters to chase at close to his season-long numbers, but the EV was much higher than is typical for him. Michael McDermott made an AI-assisted observation in the GDT that it appeared E-Rod's struggles tonight may be mechanically based. Maybe they were, and I hope if it was it is something minor and identifiable as the Snakes can't afford any of our remaining healthy pitchers to be pitching at less than their peak for an extended period. Comment of the Game More participation in the GDT than I expected, with all the extracurricular activities happening this evening. A total of 269 comments at time of publishing. Only a couple Sedona red comments and both were introductory posts so no COTG tonight. Still, it was an enjoyable thread with some interesting sidebars (apparently India is playing a cricket series with England). Win or lose, the best place to watch a D-Backs game is right here on the Pit. Advertisement Coming Up The Diamondbacks face the Royals in the second game of this interleague series tomorrow with a 1:10pm Saturday start time for the second week in a row. Ryne Nelson gets the ball for the good guys tomorrow and he'll be opposed by right-hander Michael Wacha who is 4-8 and has a 3.62 ERA. Will we stop our losing skid? More from
Khaleej Times
04-07-2025
- Business
- Khaleej Times
Taxation Society hosts power-packed seminar on corporate tax return process
The Taxation Society organised a highly impactful seminar titled 'Navigating the UAE corporate tax return process: A practical guidance for 2025' at Crystal Hall, India Club, Dubai. The event attracted an enthusiastic turnout of close to 200 attendees, including tax professionals, finance leaders, and business owners from across the UAE. The session focused on preparing businesses and professionals for UAE corporate tax compliance, with a deep dive into key return filing concepts, elections, exemptions, and schedule-level adjustments. The seminar featured insights from three highly experienced guest speakers, Manu Palerichal, founder and CEO, CLA Emirates; Sanket Shah, partner, TMSL; and Aashna Mulgaonkar, FCA, founder, GDT. From transitional relief and foreign PE exemptions to tax credits, losses, and related party disclosures, the speakers provided practical guidance on real-world scenarios and FTA filing expectations. The Taxation Society continues to uphold its commitment to empowering the professional community with relevant knowledge, collaboration, and compliance readiness in line with evolving regulatory frameworks. The event concluded with networking and lunch, leaving attendees better prepared and more confident to face the challenges of corporate tax return filings for 2025.
Agriland
13-06-2025
- Business
- Agriland
Lakeland Dairies confirms May milk price and ‘unconditional' bonus
Lakeland Dairies has today (Friday, June 13) confirmed the price it will pay for milk supplied during May. The board of the dairy processor has decided on a price for milk supplied in May with the base price remaining unchanged. However, the board said that a 0.5c/L unconditional bonus will be paid on all litres supplied in May. Lakeland A price of 49.25c/L (3.6% butterfat and 3.3% protein) will be paid for May milk in the Republic of Ireland. Lakeland said that this price is inclusive of the 0.5c/L unconditional bonus as well as the 0.5c/L Sustainability Incentive Payment. In Northern Ireland, a price of 40.3p/L will be paid for milk supplied in May which is also inclusive of the 0.5p/l unconditional bonus on all milk supplied in May as well as the Sustainability Incentive Payment. 'The global dairy markets are, again, relatively stable month-on-month. This is despite ongoing trade and geopolitical tensions. 'The relative stability in the market is due to the supply / demand dynamic remaining in balance. 'Lakeland Dairies will continue to monitor the markets and will endeavour to support our farmers as best we can,' the processor said. Last week, the Global Dairy Trade (GDT) index recorded a second successive decrease in the index figure following its latest trading event. The index decreased by 1.6% on June 3, for an average price of €3,794 per metric tonne (mt). The index figure is now at 1,311. Of the 12 most recent GDT auction events back to December 17, the index has decreased six times, increased five times, and gone unchanged on one occasion. 166 bidders participated in today's event, with 117 bidders emerging from 15 bidding rounds. The event lasted for two hours and 14 minutes, in which 16,307mt of product was sold. In product sub-indices, the biggest movement was for butter milk powder (BMP), which decreased by 6.1% for an average price of €2,482/mt. Another notable decrease was seen for cheddar, which fell back by 4.2%, reflecting an average price of €4,167/mt.
Agriland
06-06-2025
- Business
- Agriland
ICMSA: 50c/L base price ‘fully justified' for May milk
The Irish Creamery Milk Suppliers' Association (ICMSA) has said that a base price of 50c/L is 'fully justified' for May milk supplies. The chair of the association's dairy committee, Noel Murphy, made the comments ahead of milk price announcements for last month from co-ops. He said that co-op boards 'should resist any attempt for milk price reductions for May given the current conditions in the marketplace'. Noel Murphy, ICMSA Dairy Committee chair. Image: Domnick Walsh Eye Focus Murphy said that 'milk supplies globally and in particular in the EU remain constrained'. 'There is no evidence to suggest that milk supplies will increase to any great extent in the foreseeable future while demand for dairy products is strengthening in advance of the holiday period and dairy demand is looking strong in the medium term. 'The Global Dairy Trade (GDT) is higher today than it was at the start of 2025, the average milk price across the EU is at 53c/kg while the Dutch quotations have shown improvements in the order of 2c/L over the course of May,' he said. 'It would be simply unacceptable for milk processors, some of whom are conditioning farmers for a reduction, to cut milk prices to boost their own profits for 2025. 'The reality is that no one else in the milk processor supply chain will be taking or expected to take a cut,' he added. 'Co-op boards are fully justified in insisting that milk price is set at least at 50c/L for May milk and provide dairy farmers with the confidence to invest in their business and for the next generation to reconsider dairying as an attractive option for their future career. 'It is clear at this stage that dairy markets are relatively stable and dairy farmers expect at a minimum that their milk will remain stable or else move up to 50c/L if currently below that level,' Murphy said.
