Fonterra is back in the news this week with more bad news, now posting a $196 million loss for the first time in Fonterra's 17 years. Interesting that Synlait, Open Country and A2 Corp are all going well, with Synlait shares over double the value of Fonterra's at present. The dairy industry as a whole seems to be in good shape, so maybe Fonterra need to take a hard look at all its operations sooner rather than later! Beef schedules overall are steady this week. NI lamb is steady at $8.55, with SI lamb also steady at $8.30. On the dairy front, calf markets are steady, with WH bulls still fetching around $150 - $250, and WH heifers around the $100 - $150 mark. Angus bulls are selling around $150 - $200 depending on quality. Friesian bulls are near the end, with smaller numbers still available, and most selling around $150. On the beef and sheep front, store cattle markets remain steady, with R2 Friesian bulls trading around the $3 mark, and R1 Friesian bulls selling around $3.20 - $3.40kgLW. R2 steers are fetching $3 - $3.20kgLW, with heifers around $2.90 - $3kgLW. R1 steers are fetching $3.80 - $4kgLW, with heifers at $3.20 - $3.40kgLW. Store lamb numbers are well back now, with most selling around $3.80 - $4kgLW. Ewes with LAF are fetching around $100 - $120 all counted.
Have a great week from the MLR team.