Riley Kennedy

2 days ago | businessdesk.co.nz | Riley Kennedy

Competition among red meat processors for livestock is driving up farmgate prices.A shortage of stock and overcapacity in processing are forcing processors to compete harder on price for animals to put through their plants.While farmers benefit from the pricing tension, the procurement pressure ultimately squeezes processors’ margins.Some in the industry spoken to say farmgate prices aren’t disconnected from market realities, but others believe there are too many hooks and not enough stock to...

2 days ago | businessdesk.co.nz | Riley Kennedy

Clean and green.It’s the brand New Zealand sells to the world – and one we can’t afford to trash.So, is even contemplating pulling out of the Paris Agreement putting that at risk?The debate over whether to stay or go in recent months was sparked after the Government announced NZ’s second international climate target under the agreement, signing us up to reduce emissions by 51 to 55% compared to 2005 levels, by 2035.‘Still a concern’ Climate Change Minister Simon Watts said at the time that...

3 days ago | businessdesk.co.nz | Riley Kennedy

Dairy tech business Herd-i is seeking to raise US$5 million (NZ$8.3m) as it expands into the United States.In the past two weeks, it has closed off US$2.5m from US agritech groups, and now it’s looking for the balance, focusing on New Zealand investors.The $8m raise, entirely through equity, is for 15% of the company, essentially giving the business, which produces an AI-led system that detects lameness in cows early and produces daily body condition scores, a valuation of $53m.'A big enough...

3 days ago | businessdesk.co.nz | Riley Kennedy

The conflict that has played out in the Middle East in recent days is part of the geopolitical risks flagged by dairy companies less than a month ago.While it's unlikely to move global demand, it's adding uncertainty to global shipping routes.When the country’s processors released their opening forecasts at the end of last month, the general consensus was that prices would remain firm; however, the geopolitical environment cast a shadow.Varied outcomesThat was why Fonterra Co-operative Group...

4 days ago | businessdesk.co.nz | Riley Kennedy

Virtual fencing and animal management technology firm Halter has raised $165 million in a Series D capital raise.It values the New Zealand-founded firm at $1.65 billion.The round was led by global technology investment firm BOND with investment from NewView Capital, continued support from local investors Blackbird and Icehouse Ventures, and ongoing backing from Bessemer Venture Partners, DCVC, and Promus Ventures.Founded in 2016, thousands of farmers in NZ, Australia and the US use Halter in...