$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 prices fell for the fourth consecutive time at the Global Dairy Trade auction last week.
The overnight Global Dairy Trade (GDT) auction on Wednesday saw the price index drop by 3.9%; whole milk powder prices dropped 4.2% to US$2797/metric tonne.
Rabobank senior dairy analyst Emma Higgins says clearly the onset of coronavirus stalled the upward trajectory in global dairy prices visible in late 2019 and the corona hangover continues as evidenced by the GDT Event.
She says the results are now the fourth decline for 2020.
“The GDT Price Index moved lower by 4% with average prices now sitting below USD 3,000/tonne (USD 2,980/tonne). This is now in line with average prices back in January last year. Buyers and sellers are still scrambling to assess the market impact as the spread of the virus moves from China to more broadly across the globe.”
Key results
AMF index up 1.0%, average price US$4,331/MT
Butter index up 0.3%, average price US$4,144/MT
BMP not offered
Ched index up 2.6%, average price US$4,398/MT
LAC index up 4.9%, average price US$914/MT
RenCas index up 1.0%, average price US$9,987/MT
SMP index down 8.1%, average price US$2,527/MT
SWP index not available, average price not available
WMP index down 4.2%, average price US$2,797/MT
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Two major red meat sector projects are getting up to a combined $1.7 million in funding from the New Zealand Meat Board (NZMB).
Angus Barr and Tara Dwyer of The Wandle, Lone Star Farms in Strath Taieri have been named the Regional Supreme Winners at the Otago Ballance Farm Environment Awards in Dunedin.
OPINION: The distress that the politicians and bureaucrats are causing to the people of Wairoa and the wider Tairāwhiti is unforgivable.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.