Friday, 09 February 2018 14:23

$6.40 payout ‘achievable’

Written by Rural News Group

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Doug Steel.

Fonterra’s forecast milk price of $6.40/kgMS looks a lot more achievable now, according to BNZ senior economist Doug Steel.

Speaking at the Northern Dairy Development Trust Conference in Whangarei today, Steel said things were looking much better now than in December.

Global Dairy Trade auction prices have risen three times this year.

Steel told about 120 farmers at the conference that whole milk powder prices were up 13% in the three auctions this year.

“It’s pretty much a recognition that NZ weather has been awful; clearly the markets recognised that weather had been dry from November to December,” Steel says.

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