$8 final milk price likely
An $8/kgMS farm gate milk price is still on the cards with less than six weeks left to run this season.
Global Dairy Trade (GDT) star performer, butter enjoyed another strong jump in prices overnight.
At the latest GDT auction, butter prices rose 3.4% over the previous auction to US$6004/tonne.
Overall the GDT auction saw little price movement- the price index was up just 0.2%.
Whole milk powder prices, a major indicator of Fonterra’s milk payout to farmers was up 0.3% to US$3114/tonne. Skim milk powder was down 3.2%.
Key results
AMF index down 0.2%, average price US$6,577/MT
Butter index up 3.4%, average price US$6,004/MT
BMP not offered
Ched index up 1.6%, average price US$4,112/MT
LAC index down 1.8%, average price US$825/MT
RenCas index up 2.4%, average price US$6,358/MT
SMP index down 3.2%, average price US$2,024/MT
WMP index up 0.3%, average price US$3,114/MT
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
OPINION: In recent years farmers have been crying foul of unworkable and expensive regulations.
Another 16 commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme designed to help drive the uptake of genetics in the industry.
Trade Minister Todd McClay says Kiwi exporters will be $100 million better off today as the NZ-EU Free Trade Agreement (FTA) comes into force.
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.