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
Meat co-operative, Alliance has met with a group of farmer shareholders, who oppose the sale of a controlling stake in the co-op to Irish company Dawn Meats.
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A group of Kiwi farmers are urging Alliance farmer-shareholders to vote against a deal that would see the red meat co-operative sell approximately $270 million in shares to Ireland's Dawn Meats.
In a few hundred words it's impossible to adequately describe the outstanding contribution that James Brendan Bolger made to New Zealand since he first entered politics in 1972.
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OPINION: Voting is underway for Fonterra’s divestment proposal, with shareholders deciding whether or not sell its consumer brands business.
OPINION: Politicians and Wellington bureaucrats should take a leaf out of the book of Canterbury District Police Commander Superintendent Tony Hill.