Fonterra Lifts Farmgate Milk Price
Good news for Fonterra farmers. The co-op has raised this season’s farmgate milk price mid-point by 25c to $9.75/kgMS.
The Global Dairy Trade (GDT) event overnight concluded with the GDT Price Index down 2%, compared to the previous event.
For NZ farmers, the biggest worry will be the continued drop in whole milk powder prices, the benchmark used by Fonterra to set its milk payout.
WMP price dropped 2.9% to US$2,665/MT.
Key results
AMF index down 1.3%, average price US$5,044/MT
Butter index down 1.7%, average price US$4,045/MT
BMP index up 0.8%, average price US$2,568/MT
Ched index down 4.6%, average price US$3,250/MT
LAC index down 2.7%, average price US$902/MT
RenCas index down 2.9%, average price US$5,327/MT
SMP index up 1.2%, average price US$1,997/MT
SWP index not available, average price not available
WMP index down 2.9%, average price US$2,655/MT
