Latest news with #GDT
Agriland
5 days ago
- Business
- Agriland
Milk processors called on to hold current prices
Milk processors have been called on to hold their current milk prices, as they gear up to announce their offerings to suppliers for July. Ahead of the announcement run of July milk prices, the Irish Creamery Milk Suppliers' Association (ICMSA) cited "stable dairy markets" with minimal movement throughout the month. Noel Murphy, the chairperson of the ICMSA's dairy committee, said: "While some spot prices have softened slightly, overall market conditions remain stable and strong. "There is no rational basis for any reduction in milk prices." According to Murphy, the "fundamentals" of the dairy market have been strong, including Dutch dairy quotes for butter, skimmed milk powder (SMP) and whole milk powder (WMP), which "averaged in the high forties throughout July". "Italian spot prices consistently exceeded 60c/L, reflecting the strength of continental demand," Murphy said. He said this view was supported by good recent performances for SMP and WMP on commodity exchanges. Murphy noted that EU milk supplies are forecasted to decline slightly in 2025 due to regulatory pressures and tight margins, further adjusting downwards supply. "Given all these indications, any suggestion of downward pressure on milk prices would be unjustified and out-of-sync with market realities," the ICSMA dairy chairperson said. The Global Dairy Trade (GDT) index saw a second increase in a row this week, after four consecutive decreases throughout May and June. After the latest trading event on Tuesday (August 5), the index increased by 0.7%, following on from an increase of 1.1% on July 15. The increase two weeks ago followed on from four consecutive decreases between May 20 and July 1, which ranged from 0.9% to 4.1%. The index now stands at 1,268. This compares to a 2025 high of 1,344 on May 6. The May 6 figures was the highest GDT index since June 2022. Meanwhile, the latest Ornua Purchase Price Index (PPI), for July, implies an indicative return of 45.5c/L, 5.1% VAT inclusive (unchanged from the previous month) for milk at 3.6% fat and 3.3% protein. The figure is net of Ornua's costs to market, and was determined after deducting the estimated processing cost of 9.3c/L.
Otago Daily Times
6 days ago
- Business
- Otago Daily Times
Butter price drops 3.8% in global dairy trade auction
New Zealand's shopping public will be relieved soaring butter prices had some of their steam removed at Fonterra's global dairy trade (GDT) auction. An overall back-to-back rise will be music to dairy farmers' ears, but family shoppers will be honing in on butter prices dropping 3.8% to $12,220 a tonne. Overall prices increased marginally 0.7% for about 37,000 tonnes of dairy products sold overnight on Tuesday, including a 2.1% gain for the main staple of whole milk powder to nearly $6800. The average price across the range was nearly $7200 a tonne, up on a 1.1% gain at the last auction on July 15. Record butter prices have raised the ire of family shoppers, resulting in Fonterra chief executive Miles Hurrell stepping in to explain they had increased about 50% over the past year because of high global dairy prices. A GDT drop will increase expectations for this to show up in the domestic marketplace. However, the Fonterra leader indicated high prices for a butter block could stick around for longer as strong demand was still being seen internationally, particularly in China and Asia. Buttermilk powder fell 2% to $5166, while cheddar slipped 0.6% to $7750 and mozzarella 0.1% to $7945. On top of the advance for whole milk powder, anhydrous milk fat increased 1.2% to $11,995 and skim milk powder was up 0.4% to $4751. No lactose was offered. The result follows four consecutive auctions in negative territory, including a 4.1% overall drop in early July.
NZ Herald
28-07-2025
- 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.
