$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.
New Zealand dairy farmers woke up today to more good news on the milk price front.
The overnight Global Dairy Trade auction saw its third consecutive price index rise of over 4%. The price index rose 4.2% compared to the last auction.
Whole milk powder prices, which form the basis of Fonterra’s milk price to farmer suppliers, jumped 4.2% to US$4503/MT – its highest level in over seven years.
The latest rise will put upward pressure on the forecast milk price.
Fonterra is forecasting a milk price range of $8.90 to $9.50/kgMS for this season, with a mid-point of $9.20.
The highest previous milk price paid by Fonterra was $8.40 in 2013-14 season.
Strong gains were also recorded in butter index (5.1%) and skim milk powder (6%).
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Horticulture NZ chief executive Nadine Tunley will step down in August.
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.