May 6, 2025 • 4 mins
Fonterra's new Managing Director of Co-operative Affairs reviews another outstanding GDT Auction overnight (up 4.6%, WMP + 6.2%) as the 24/25 season draws to a close.
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Episode Transcript
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Speaker 1 (00:00):
New blood on the country. Yeah, to talk about a
great global dairy trade auction overnight. He's the new head
of co op affairs for Fonterra. His name is Matt Boulger.
Grew up on a sheep farm, sheep and beef farm
in Tekawetti, but studied in Japan and the US. With
a name like Bulger and a town like Tekuwhetti, I've
(00:21):
got to ask this question, Matt, are you any relation
to Sir Jim good Adam.
Speaker 2 (00:29):
Yes, Sherla comes is on the case. You've uncovered me,
so now I'm one of Jim and James kids. Although
there's a lot of us, so you know, there's quite
there's quite a few Bulgers roaming around the country. And
on one of them.
Speaker 1 (00:42):
How's your father keeping? I always thought he was a
good prime minister. You can't you can't go wrong when
you get a good, honest farmer as prime minister.
Speaker 2 (00:49):
Exactly exactly, he's good. He's getting on. It's kilto ninety
this month, and so you know when you when you're
hit ninety, the body runs into the normal wear and tear.
But Na's and good foreman. I'm looking forward to getting
down and seeing them in a couple of weeks.
Speaker 1 (01:04):
You've been the head of co op affairs for a
couple of months, first time. As I said on the wireless,
as your dad would probably say, that global dairy trade
auction overnight, Matt Boulger up four point six percent, whole
milk powder six point two. I'm told that the spot
price right at the moment is like eleven dollars per
kilogram of milk solids. You guys have to announce your
(01:27):
opening shot in a couple of weeks, and I'm going
to get straight into you here, Matt. It's got to
start with two ones.
Speaker 2 (01:33):
I thought you'd ask that. Yeah, we will wait till
the announcement of the outlook for next year later this month,
but that's coming very close. Look, obviously, anybody who's been
in the dairy game for a while with an on
farm or anywhere else knows that there's a lot of vlatility,
and so we we start a season can obviously go
(01:54):
up or down and need even more volatility at the
moment than we normally see. So look forward to say
that put in an announcement. But yeah, there's quite a
lot of positivity out and market, and I think the
auction overnight reinforces that how.
Speaker 1 (02:06):
Much of the auction was due to the end of
season and lower volumes.
Speaker 2 (02:12):
Yeah, there's a mix of things. So as we get
to the end of the New Zealand season, obviously we're
putting a bit less volume in each period now before
we start offering next season's production up for sale, So
there's a little bit of that. There's also some other factors.
They you know, we saw some strike quite strong demand
out of Southeast Asia. We also if you look around
the globe, newvices up a little bit, but big milk
(02:35):
markets or big milk producers like Europe were actually down
a little bit in the last couple of months. So
it's all of those factors coming together.
Speaker 1 (02:42):
Do you think you'll see a strong finish to the
season production wise? And I know parts of the North Island,
including your original home patch, have been very dry. They've
had some rain now will farmers and I know they
are in my home province of South I reckon they're
going to milk on while the weather's good.
Speaker 2 (03:01):
Yeah, and it's I mean you've already touched on it.
It's quite different region to region, right, I was got
right through the South Island a few weeks ago, as
and Tadanak a couple of weeks back. And obviously and
I'm based in the way Kado, so it's it's quite different,
different places, quite a lot of farmers and mikido probably
dried off a bit early, so we've seen that falling back.
But year on year we're still you know, we're still
(03:23):
up across the country. And as you say, it's quite
a strong tale in the South Island, which is which
is keeping that milk flying across the board. So it's
a really interesting season actually that combine you know, it's
not been easy for everyone, but combine those farmers who
did get a good volume of production with a with
ten dollars milk pricing, you know that's it's a good season.
Speaker 1 (03:46):
Well, Matt Boulger, first time to the batter's box on
the country, I think you've got a pass mark. Well done.
Speaker 2 (03:51):
All right, I'll go and I'll go and test it
out with a family.
Speaker 1 (03:54):
We'll go and ask to Jim what he thought or
play him the interview a week but later. Thank you
very much for your time and a great result too
for New Zealand and great stuff.
Speaker 2 (04:03):
Thanks Jamie
New blood on the country. Yeah, to talk about a
great global dairy trade auction overnight. He's the new head
of co op affairs for Fonterra. His name is Matt Boulger.
Grew up on a sheep farm, sheep and beef farm
in Tekawetti, but studied in Japan and the US. With
a name like Bulger and a town like Tekuwhetti, I've
(00:21):
got to ask this question, Matt, are you any relation
to Sir Jim good Adam.
Speaker 2 (00:29):
Yes, Sherla comes is on the case. You've uncovered me,
so now I'm one of Jim and James kids. Although
there's a lot of us, so you know, there's quite
there's quite a few Bulgers roaming around the country. And
on one of them.
Speaker 1 (00:42):
How's your father keeping? I always thought he was a
good prime minister. You can't you can't go wrong when
you get a good, honest farmer as prime minister.
Speaker 2 (00:49):
Exactly exactly, he's good. He's getting on. It's kilto ninety
this month, and so you know when you when you're
hit ninety, the body runs into the normal wear and tear.
But Na's and good foreman. I'm looking forward to getting
down and seeing them in a couple of weeks.
Speaker 1 (01:04):
You've been the head of co op affairs for a
couple of months, first time. As I said on the wireless,
as your dad would probably say, that global dairy trade
auction overnight, Matt Boulger up four point six percent, whole
milk powder six point two. I'm told that the spot
price right at the moment is like eleven dollars per
kilogram of milk solids. You guys have to announce your
(01:27):
opening shot in a couple of weeks, and I'm going
to get straight into you here, Matt. It's got to
start with two ones.
Speaker 2 (01:33):
I thought you'd ask that. Yeah, we will wait till
the announcement of the outlook for next year later this month,
but that's coming very close. Look, obviously, anybody who's been
in the dairy game for a while with an on
farm or anywhere else knows that there's a lot of vlatility,
and so we we start a season can obviously go
(01:54):
up or down and need even more volatility at the
moment than we normally see. So look forward to say
that put in an announcement. But yeah, there's quite a
lot of positivity out and market, and I think the
auction overnight reinforces that how.
Speaker 1 (02:06):
Much of the auction was due to the end of
season and lower volumes.
Speaker 2 (02:12):
Yeah, there's a mix of things. So as we get
to the end of the New Zealand season, obviously we're
putting a bit less volume in each period now before
we start offering next season's production up for sale, So
there's a little bit of that. There's also some other factors.
They you know, we saw some strike quite strong demand
out of Southeast Asia. We also if you look around
the globe, newvices up a little bit, but big milk
(02:35):
markets or big milk producers like Europe were actually down
a little bit in the last couple of months. So
it's all of those factors coming together.
Speaker 1 (02:42):
Do you think you'll see a strong finish to the
season production wise? And I know parts of the North Island,
including your original home patch, have been very dry. They've
had some rain now will farmers and I know they
are in my home province of South I reckon they're
going to milk on while the weather's good.
Speaker 2 (03:01):
Yeah, and it's I mean you've already touched on it.
It's quite different region to region, right, I was got
right through the South Island a few weeks ago, as
and Tadanak a couple of weeks back. And obviously and
I'm based in the way Kado, so it's it's quite different,
different places, quite a lot of farmers and mikido probably
dried off a bit early, so we've seen that falling back.
But year on year we're still you know, we're still
(03:23):
up across the country. And as you say, it's quite
a strong tale in the South Island, which is which
is keeping that milk flying across the board. So it's
a really interesting season actually that combine you know, it's
not been easy for everyone, but combine those farmers who
did get a good volume of production with a with
ten dollars milk pricing, you know that's it's a good season.
Speaker 1 (03:46):
Well, Matt Boulger, first time to the batter's box on
the country, I think you've got a pass mark. Well done.
Speaker 2 (03:51):
All right, I'll go and I'll go and test it
out with a family.
Speaker 1 (03:54):
We'll go and ask to Jim what he thought or
play him the interview a week but later. Thank you
very much for your time and a great result too
for New Zealand and great stuff.
Speaker 2 (04:03):
Thanks Jamie
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