Strong production, tested demand send milk prices crashing
Strong global milk production and rebalancing of demand among key buyers has delivered one of the biggest drops in whole milk powder prices in recent years.
Dairy prices have bounced back in the latest Global Dairy Trade (GDT) auction.
Last night’s auction saw the GDT price index up 1.8% compared to the previous auction.
The whole milk powder price, which generally sets Fonterra’s milk payout to farmers, rose 1.8% to US$3,037/metric tonne.
AMF index up 4.1%, average price US$4,175/MT
Butter index up 0.4%, average price US$3,838/MT
BMP not offered
Ched index down 3.5%, average price US$3,641/MT
LAC index down 18.8%, average price US$887/MT
SMP index up 2.5%, average price US$2,799/MT
SWP index not available, average price not available
WMP index up 1.8%, average price US$3,037/MT
Many farmers around the country are taking advantage of the high dairy payout to get maximum production out of their cows.
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