$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
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
The Ministry for Primary Industries (MPI) has informed staff it will cut 391 jobs following a consultation period.