June 10, 2025 • 3 mins
Open Country Dairy's chief executive is enjoying a busy day one of Fieldays. He talks about Fonterra's forecast milk price, US tariffs, a new butter plant, and gives away some cheese.
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Episode Transcript
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Speaker 1 (00:00):
Mark de Latour is the chief executive of Open Country Dairy,
our second biggest dairy company, or behind of course Fonterra.
Speaker 2 (00:07):
He's come bearing gifts.
Speaker 1 (00:09):
We're going to give a couple of the week these
away to some lucky people out there.
Speaker 2 (00:12):
We'll decide who and just to tack.
Speaker 1 (00:14):
But how's day one of field days for you guys
at Open Country?
Speaker 3 (00:18):
Day one's really really busy.
Speaker 4 (00:20):
The stands full, so invite everyone to come down to
the stand. We've got cheese tasting going on. Actually I'm
missing the first cheese tasting to be here, Jamie. So
as a a we're pairing with beer and wine and
at two pm we're bearing with gin and whiskey. So
a bit of fun to celebrate what's been a fantastic season.
Speaker 2 (00:39):
And you've got your cheese master there.
Speaker 3 (00:42):
What's his name, Jason Tarrant. Last year he is the
cheese Master of New Zealand.
Speaker 4 (00:47):
He's hand picked the cheeses. He's actually hand picked the beer, wine,
gin and whiskey as well. So it's a fun event.
Come down and like I said, great year, we might
as well celebrate.
Speaker 1 (00:58):
Okay, this year is locked and loaded. I mean Fonterra
is sitting at ten dollars. You guys finished very very
strongly of interest to these people out here. It's not
only well, not twenty four twenty five, it's twenty five
twenty six. Were you surprised that Fonterra opened at ten
dollars albeit the range is eight to eleven.
Speaker 4 (01:17):
Yeah, it was a bit of a shotgun picked that one,
wasn't it. You know, ten dollars a pretty safe number.
I think we're forecasting around ten thirty at the stage
for the season as it's looking now, but a very
wide range, but I think that's fair enough considering what's
going on in the world at the moment.
Speaker 2 (01:32):
Yeah.
Speaker 1 (01:32):
I was talking to one of the guys, one of
the executives from Fonterra this morning, and he said, these
tariffs are really starting to spook the market of it.
Speaker 2 (01:40):
Are you finding that?
Speaker 4 (01:41):
I think it's so much the tariffs at the stage
because it's such an unknown, But certainly there's so much
volatility in the world, whether it be Israel and Gaza and.
Speaker 3 (01:52):
Of course Russia.
Speaker 4 (01:54):
I think there's lots of challenges, lots of moving parts
in the world, so good to be prudent, but look,
I still think next season is going to be strong.
Speaker 3 (02:02):
I think there's lots of demand.
Speaker 4 (02:03):
People are really seeing the value of natural fats and
proteins and people need to eat.
Speaker 1 (02:08):
Jamie, have you guys at Open Country still got a
fixed price offer in the market. I know you had
an offer out at nine to fifty. It was under
subscribed from what I'm hearing, but I thought that wasn't
bad business.
Speaker 3 (02:19):
Yeah, nine to fifty. It wasn't as you under subscribed.
Speaker 4 (02:22):
It was fully subscribed, but it wasn't over so we
didn't have to cut it back.
Speaker 3 (02:26):
Nine to fifty is a pretty safe number, very safe number.
Speaker 4 (02:29):
But you know, we just do back to backs with
what customers prepared to pay at that time. So I
guess that's an indication of where customers feel is a
decent buy for the season ahead. So if they see
that nine point fifty as a goodbye for the next season,
then then we'll take that because it means the market
should be above that.
Speaker 2 (02:48):
Now. It said you've come here bearing gifts.
Speaker 1 (02:50):
If you got the Open Country cheese, you guys are
going to start up at butter Plants.
Speaker 4 (02:53):
Yeah we are. We're about a month away. It would
have been good to have it ready for this season.
But new butter plant that wa just down the road
from here, and we're looking forward to getting that going.
Speaker 3 (03:05):
It's it's pretty much.
Speaker 4 (03:06):
Half sold now before we actually commission the plant, so
lots of demand for them. We're looking forward to it,
and of course farmer suppliers will get their allocation of
butter as well.
Speaker 2 (03:16):
Joe, that's yellow gold.
Speaker 4 (03:18):
It's more gold now than even cheese. So it's a
good time to open it up.
Speaker 1 (03:23):
Okay, Mark Dellatore, let's give a couple of blocks away.
Who out there wants a block of cheese, just put
your hand up. I think this lady here deserves the
block of cheese. That one there, and we better go
with a bloke. This man here deserves some cheese.
Speaker 2 (03:37):
There you go.
Speaker 1 (03:38):
Sorry, can't please all of the people all the time.
Speaker 2 (03:41):
No, No, that's mine.
Speaker 3 (03:43):
And I am taking Jamie's cheese.
Speaker 2 (03:45):
And then it can't take my cheese.
Speaker 1 (03:46):
I'm a supplier to open country, so I'm allowed to
block a cheese.
Speaker 2 (03:50):
Someone else will pinch it off me.
Speaker 1 (03:52):
Hey, Mark, good to get you mate, Thanks mate, really
appreciate it.
Mark de Latour is the chief executive of Open Country Dairy,
our second biggest dairy company, or behind of course Fonterra.
Speaker 2 (00:07):
He's come bearing gifts.
Speaker 1 (00:09):
We're going to give a couple of the week these
away to some lucky people out there.
Speaker 2 (00:12):
We'll decide who and just to tack.
Speaker 1 (00:14):
But how's day one of field days for you guys
at Open Country?
Speaker 3 (00:18):
Day one's really really busy.
Speaker 4 (00:20):
The stands full, so invite everyone to come down to
the stand. We've got cheese tasting going on. Actually I'm
missing the first cheese tasting to be here, Jamie. So
as a a we're pairing with beer and wine and
at two pm we're bearing with gin and whiskey. So
a bit of fun to celebrate what's been a fantastic season.
Speaker 2 (00:39):
And you've got your cheese master there.
Speaker 3 (00:42):
What's his name, Jason Tarrant. Last year he is the
cheese Master of New Zealand.
Speaker 4 (00:47):
He's hand picked the cheeses. He's actually hand picked the beer, wine,
gin and whiskey as well. So it's a fun event.
Come down and like I said, great year, we might
as well celebrate.
Speaker 1 (00:58):
Okay, this year is locked and loaded. I mean Fonterra
is sitting at ten dollars. You guys finished very very
strongly of interest to these people out here. It's not
only well, not twenty four twenty five, it's twenty five
twenty six. Were you surprised that Fonterra opened at ten
dollars albeit the range is eight to eleven.
Speaker 4 (01:17):
Yeah, it was a bit of a shotgun picked that one,
wasn't it. You know, ten dollars a pretty safe number.
I think we're forecasting around ten thirty at the stage
for the season as it's looking now, but a very
wide range, but I think that's fair enough considering what's
going on in the world at the moment.
Speaker 2 (01:32):
Yeah.
Speaker 1 (01:32):
I was talking to one of the guys, one of
the executives from Fonterra this morning, and he said, these
tariffs are really starting to spook the market of it.
Speaker 2 (01:40):
Are you finding that?
Speaker 4 (01:41):
I think it's so much the tariffs at the stage
because it's such an unknown, But certainly there's so much
volatility in the world, whether it be Israel and Gaza and.
Speaker 3 (01:52):
Of course Russia.
Speaker 4 (01:54):
I think there's lots of challenges, lots of moving parts
in the world, so good to be prudent, but look,
I still think next season is going to be strong.
Speaker 3 (02:02):
I think there's lots of demand.
Speaker 4 (02:03):
People are really seeing the value of natural fats and
proteins and people need to eat.
Speaker 1 (02:08):
Jamie, have you guys at Open Country still got a
fixed price offer in the market. I know you had
an offer out at nine to fifty. It was under
subscribed from what I'm hearing, but I thought that wasn't
bad business.
Speaker 3 (02:19):
Yeah, nine to fifty. It wasn't as you under subscribed.
Speaker 4 (02:22):
It was fully subscribed, but it wasn't over so we
didn't have to cut it back.
Speaker 3 (02:26):
Nine to fifty is a pretty safe number, very safe number.
Speaker 4 (02:29):
But you know, we just do back to backs with
what customers prepared to pay at that time. So I
guess that's an indication of where customers feel is a
decent buy for the season ahead. So if they see
that nine point fifty as a goodbye for the next season,
then then we'll take that because it means the market
should be above that.
Speaker 2 (02:48):
Now. It said you've come here bearing gifts.
Speaker 1 (02:50):
If you got the Open Country cheese, you guys are
going to start up at butter Plants.
Speaker 4 (02:53):
Yeah we are. We're about a month away. It would
have been good to have it ready for this season.
But new butter plant that wa just down the road
from here, and we're looking forward to getting that going.
Speaker 3 (03:05):
It's it's pretty much.
Speaker 4 (03:06):
Half sold now before we actually commission the plant, so
lots of demand for them. We're looking forward to it,
and of course farmer suppliers will get their allocation of
butter as well.
Speaker 2 (03:16):
Joe, that's yellow gold.
Speaker 4 (03:18):
It's more gold now than even cheese. So it's a
good time to open it up.
Speaker 1 (03:23):
Okay, Mark Dellatore, let's give a couple of blocks away.
Who out there wants a block of cheese, just put
your hand up. I think this lady here deserves the
block of cheese. That one there, and we better go
with a bloke. This man here deserves some cheese.
Speaker 2 (03:37):
There you go.
Speaker 1 (03:38):
Sorry, can't please all of the people all the time.
Speaker 2 (03:41):
No, No, that's mine.
Speaker 3 (03:43):
And I am taking Jamie's cheese.
Speaker 2 (03:45):
And then it can't take my cheese.
Speaker 1 (03:46):
I'm a supplier to open country, so I'm allowed to
block a cheese.
Speaker 2 (03:50):
Someone else will pinch it off me.
Speaker 1 (03:52):
Hey, Mark, good to get you mate, Thanks mate, really
appreciate it.
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