Fonterra enters partnership to take one third shareholding in GDT

FE spore counts soar

By Gerald Piddock

The hot, humid weather enveloping most of the North Island over the past month has sent spore counts for facial eczema (FE) soaring.

Data on spore count samples collated by Gribbles Veterinary from most districts are above the 30,000 spores per gram threshold for treatment. The latest samples taken from the fifth week of monitoring showed spore counts spiking to over one million per gram from one area in Morrinsville in Waikato.

In Whakatāne, the counts had reached about 225,000, in Franklin, Hauraki and Piako 200,000 and 100,000 in Waihi.

In Waitomo, spore counts in the fifth week reached just under 300,000, about 125,000 in Taupō and about 240,000 in South Waikato.

Further south in South Taranaki, the counts reached 40,000 and just under 70,000 in Whanganui. In Gisborne, it reached about 150,000, 80,000 in Hawke’s Bay, 120,000 in Tararua and 50,000 in Wairarapa.

FE is responsible for serious production losses estimated to be around $200 million annually with affected stock suffering liver and skin damage.

The disease is caused by spores from the fungus Pithomyces chartarum, which grows in pasture and thrives on dead litter during warm humid summer and autumn months.

Animals graze the toxic pasture and once in the rumen the spores release a mycotoxin sporidesmin, which then enters the bloodstream eventually finding its way into the liver and bile ducts.

It’s important to note, FE is just like an infestation. If one cow has FE symptoms,

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Humid weather has seen high spore counts for facial eczema in many parts of the North Island.

it’s likely more are affected, even if they’re not showing signs.

Some indicators to look for in your cows include restlessness, seeking shade, licking their udder and reduced milk production.

With no cure, the best way to protect your herd is through prevention.

Protection measures to reduce the risk of FE, outlined by Gribbles, include not grazing high spore count paddocks, feeding supplements, spraying pastures with fungicide, treating animals with zinc and breeding animals for tolerance. n

Keeping your herd healthy and productive is a 365 day a year job, and dry off is one of the most critical times to prevent mastitis. What you do (or don’t do) during dry off impacts herd health and sets up your cows for future seasons. Teatseal® is proven as the most effective way to prevent new infections, both over the dry period and at calving.

By preventing mastitis with Teatseal, you’ll be one step closer to making dry off pay off. Contact your vet or learn more at teatseal.co.nz

Partnership to enhance GDT

By Sonita Chandar

Fonterra is to enter into a three-way partnership with New Zealand’s Exchange (NZX) and the European Energy Exchange (EEX), which will see each take an equal shareholding in the Global Dairy Trade (GDT).

The partnership, which is expected to be completed by mid-2022, is subject to several factors, including approval of the boards, clearance from European or any other relevant competition law authorities and finalisation of transaction documentation.

Fonterra chief executive Miles Hurrell says the move to a broader ownership structure marks the next step in the evolution of GDT. He says the partnership will enhance the standing of GDT as an independent, neutraL and transparent price discovery platform and will give it a presence in prominent international dairy-producing regions. It will also create opportunities for future growth.

“This is good news for our farmer owners, unit holders and all dairy industry participants and is expected to lead to greater volumes being traded on GDT. It will bring more participants and transactions, stimulating further growth of risk management contracts available on financial trading platforms,” Hurrell says.

“We all know that dairy is one of the most volatile traded commodities.

“This partnership is another step in helping to manage this risk for everyone – from the farmer through to the customer at the end of the supply chain. A more liquid dairy trading environment allows for the growth of financial tools, which can be used by all participants to better manage price volatility.

“Our focus has been about securing the best partners, and NZX and EEX share our vision for a stronger, more liquid auction platform that benefits all involved. We are also closely aligned on future possibilities for GDT as the world’s most trusted reference point for dairy commodity prices.”

NZX chief executive Mark Peterson says the price discovery that GDT provides the international dairy industry is crucial for dealing with volatility and its associated risks.

“We see the expansion of the physical trading environment as both further strengthening existing financial contracts and enabling the creation of new tools and opportunities for dairy processors and end-users to manage price volatility. These offer clear benefits for New Zealand dairy farmers and customers around the world,” Peterson says.

EEX chief strategy officer Dr Tobias Paulun says that becoming a shareholder of GDT lines up perfectly with the EEX strategy of taking asset classes, which they already successfully serve to a global dimension.

“With our experience in operating Europe’s leading trading platform for dairy futures, but also with multiple spot contracts in the energy space, we believe that we can be of value supporting GDT’s growth vision,” Paulun says.

“At the same time, we can create value for the global dairy value chain by further improving price discovery and price risk management instruments.”

GDT director Dr Eric Hansen says that the addition of NZX and EEX as shareholders alongside Fonterra will enable them to build on their success in establishing a global brandand expertise and create more opportunities for their customers.

“The strong alignment of all three shareholding partners to GDT’s purpose of credible price discovery will support initiatives to increase liquidity on GDT, attract new supply from prominent dairy producing regions and will strengthen GDT’s linkages to financial trading platforms,” Hansen says. n

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Fonterra chief executive Miles Hurrell says the way strategic partnership take ownership of the GDT is good news for everyone, including farmers.