- There were 168 appointments in July 2016. 156 liquidations, no administrations and 12 receiverships were recorded. The volume of liquidations is down on those seen in July for each of the last 5 years, however, receiverships have increased.
- Total insolvency appointments stand at 1331 for the year to date which is down on previous years.
- Applications made to the High Court to liquidate companies in July 2016 totalled 107. This is consistent with previous years
How does 2016 compare thus far to the last five years?
Market commentary – what’s going on with dairy prices?
Although not as much as they want, dairy farmers did see improvement as world dairy prices have shot higher at the latest GlobalDairyTrade (GDT) auction.
The GDT price index gained 6.6 % since the last auction in mid-July, most likely reflecting concerns about tightening supply.
Whole milk powder prices – which have the biggest bearing on Fonterra’s farmgate milk price – shot up by 9.9% to US$2265 a tonne.
That price, while still well short of the US$3000 a tonne required to put loss-making farmers back in the black, will nevertheless act as a confidence booster for the sector.
What are your thoughts on the insolvency stats for July? What’s your prediction with the dairy sector? Will it continue to rise? Please email Simon at firstname.lastname@example.org