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

Featured

 

COVID-19: Tax relief for M. bovis farmers

Farmers whose herds were culled in response to the outbreak of Mycoplasma bovis will be able to minimise the tax treatment of their income in some circumstances.

» The RNG Weather Report

» Latest Print Issues Online

Milking It

Vegan milk service hits UK

OPINION: In March, the first national dairy-free milk delivery service will be coming to British doorsteps, a clear sign that…

Red seaweed 

Farmers in Australia are experimenting with adding seaweed to cattle feed in order to stop cows producing as much methane.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter