Milk Powder Prices Prop Up Farmgate Milk Price
Milk powder prices are keeping farmgate prices up, helping processors offset the dip in milk fat prices.
This morning's GDT price index rose 9.9%, its fourth consecutive rise.
More importantly, the average price of Fonterra's flagship commodity export - whole milk powder- rose 12.9% to US$2824/tonne.
Skim milk powder price rose 13.4% to US$2267/tone.
Full results
- AMF index up 9.9%, average price US$3,763/MT
- Butter index down 2.3%, average price US$3,037/MT
- BMP index up 13.8%, average price US$1,945/MT
- Ched index up 0.5%, average price US$3,234/MT
- LAC index up 5.9%, average price US$524/MT
- RenCas index up 4.0%, average price US$6,048/MT
- SMP index up 13.4%, average price US$2,267/MT
- WMP index up 12.9%, average price US$2,824/MT
