$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.
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
