Wednesday, 20 January 2021 08:39

Another solid rise in dairy prices

Written by  Sudesh Kissun
The overnight GDT auction has delivered another solid result. The overnight GDT auction has delivered another solid result.

Dairy farmers in New Zealand have woken up to some good news.

The overnight Global Dairy Trade (GDT) auction has delivered another solid result.

The GDT price index rose 4.8%, its fifth straight rise.

More importantly for farmers, whole milk powder price rose 2.2% to a four-year high of US$3,380/MT.

Fonterra uses WMP price as a benchmark to set its farm gate milk payout.

Key Results

AMF index up 17.2%, average price US$5,398/MT

Butter index up 4.6%, average price US$4,735/MT

BMP not offered

Ched index down 0.3%, average price US$4,082/MT

LAC index up 6.6%, average price US$1,173/MT

SMP index up 7.0%, average price US$3,243/MT

SWP not offered

WMP index up 2.2%, average price US$3,380/MT

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$10.25/kgMS milk price now in play

A significant rise in Global Dairy Trade (GDT) auction last week has prompted one bank to lift its forecast milk price for the season to above Fonterra's mid-point.

$10 milk price still on

Whole milk powder prices on Global Dairy Trade (GDT) remains above long run averages and a $10/kgMS milk price for the season remains on the card, says ASB senior economist Chris Tennent-Brown.

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