Wednesday, 05 February 2020 08:50

Coronavirus infects dairy prices

Written by  Staff Reporters
Dairy prices have fallen as concern grows around coronavirus. Dairy prices have fallen as concern grows around coronavirus.

Global dairy prices have taken a hit in the overnight auction.

As predicted by the futures market, prices fell as concerns grew around coronavirus in China and its impact on global trade.

China is Fonterra’s major key market: Around 11% of all dairy consumption in China comes from Fonterra

The GDT price index fell 4.7%: whole milk powder down 6.2%, skimmed milk powder down 4.2%, and butter up 0.2%.

Updated coronavirus statistics show confirmed cases total 20,708 worldwide (20,483 in China), of which 4% have recovered, 13% are in critical condition, and 427 have died (425 in China).

Key results

AMF index down 4.5%, average price US$4,626/MT

Butter index up 0.2%, average price US$4,258/MT

BMP index down 5.2%, average price US$2,886/MT

Ched index up 6.0%, average price US$4,302/MT

LAC index up 2.5%, average price US$830/MT

RenCas index up 6.0%, average price US$9,956/MT

SMP index down 4.2%, average price US$2,907/MT

SWP index not available, average price not available

WMP index down 6.2%, average price US$3,039/MT

More like this

Sorry, not sorry

OPINION: Did former PM Jacinda Ardern get fawning reviews for her book?

Every exhibitor with something valuable to offer for farmers

OPINION: Welcome to the second annual NZ Dairy Expo at Matamata – an event created to bring together the best of the New Zealand dairy industry in a focused, grassroots environment where dairy farmers and rural professionals can meet, talk, compare products, and make smart decisions for their farms.

$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.

Featured

Big return on a small investment

Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.

Editorial: Sensible move

OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.

National

Machinery & Products

» Latest Print Issues Online

Milking It

Cuddling cows

OPINION: Years of floods and low food prices have driven a dairy farm in England's northeast to stop milking its…

Bikinis in cowshed

OPINION: An animal activist organisation is calling for an investigation into the use of dairy cows in sexuallly explicit content…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter