Wednesday, 03 March 2021 09:04

Dairy prices skyrocket!

Written by Sudesh Kissun

font size decrease font size increase font size
Print
Email

The WMP has jumped 21% at the latest GDT auction.

New Zealand dairy farmers woke up to some very good news. The overnight Global Dairy Trade (GDT) auction recorded a massive jump in prices.

The GDT price index jumped 15% compared to the previous auction, its eighth consecutive price rise.

Whole milk powder prices, used by Fonterra to set its milk payout, rose a whopping 21% to US$4364/MT, a seven-year high.

Key Results

AMF index up 7.4%, average price US$5,929/MT

Butter index up 13.7%, average price US$5,826/MT

BMP index down 0.3%, average price US$3,144/MT

Ched index up 1.3%, average price US$4,280/MT

LAC index up 4.9%, average price US$1,278/MT

SMP index up 3.5%, average price US$3,302/MT

SWP not offered

WMP index up 21.0%, average price US$4,364/MT

More like this

Glut in global milk supply keeping prices down

Glut in global milk supply keeping prices down

The final Global Dairy Trade (GDT) auction has delivered bad news for dairy farmers.

When will global milk production hit a tipping point?

When will global milk production hit a tipping point?

With global milk prices falling, the question is when will key exporting countries reach a tipping point where production starts to dip.

Editorial: No need to worry

OPINION: What goes up must come down. So, global dairy prices retreating from lofty heights in recent months wouldn’t come as a surprise to many farmers.

Price cut coming?

OPINION: Dipping global dairy prices have already resulted in Irish farmers facing a price cut from processors.

Butter price melt

OPINION: Are the heydays of soaring global demand for butter over?

Popular Reads

Open Country opens butter plant

When American retail giant Cosco came to audit Open Country Dairy’s new butter plant at the Waharoa site and give…

Early drought fears ease in Hawke’s Bay, but caution remains

Fears of a serious early drought in Hawke’s Bay have been allayed – for the moment at least.

Fonterra shareholders watch performance after sale

Fonterra shareholders say they will be keeping an eye on their co-operative's performance after the sale of its consumer businesses.

Farmers more satisfied with banks, but confidence remains below 2017 levels

According to the latest Federated Farmers banking survey, farmers are more satisfied with their bank and less under pressure, however,…

Environment Canterbury promotes on-farm composting as a practical alternative to offal pits

Environment Canterbury, alongside industry partners and a group of farmers, is encouraging farmers to consider composting as an environmentally friendly…

Featured

Restrictions on fruits, vegetables movement in Mt Roskill

Legal controls on the movement of fruits and vegetables are now in place in Auckland’s Mt Roskill suburb, says Biosecurity New Zealand Commissioner North Mike Inglis.

Free herbicide resistance testing

Arable growers worried that some weeds in their crops may have developed herbicide resistance can now get the suspected plants tested for free.

Fruit fly discovery puts growers, exporters on edge

Fruit growers and exporters are worried following the discovery of a male Queensland fruit fly in Auckland this week.

Global dairy prices snap a five-month negative run

Dairy prices have jumped in the overnight Global Dairy Trade (GDT) auction, breaking a five-month negative streak.

Alliance Group chief executive steps down

Alliance Group chief executive Willie Wiese is leaving the company after three years in the role.

New field book helps identify common pests, diseases

A booklet produced in 2025 by the Rotoiti 15 trust, Department of Conservation and Scion – now part of the Bioeconomy Science Institute – aims to help people identify insect pests and diseases.

National

Fonterra capital return could boost GDP – ANZ Report

The Fonterra divestment capital return should provide “a tailwind to GDP growth” next year, according to a new ANZ NZ report,…

Fonterra upgrades Eltham cheese production for global growth

Fonterra's Eltham site in Taranaki is stepping up its global impact with an upgrade to its processed cheese production lines,…

Michelle Pye elected to Fonterra board

Canterbury farmer Michelle Pye has been elected to Fonterra’s board for a three-year term.

Government plan to scrap regional councils faces criticism

Government plans to get rid of regional councillors shows a lack of understanding of the fundamental problem affecting all of…

Lactose to join fat and protein in Fonterra milk price model

For over 20 years, Whakatane farmer Gerard Van Beek has been attending Fonterra annual general meetings with the same message…

Machinery & Products

Case IH Unveils New RB6 Round Balers & 2026 Square Baler Upgrades

Case IH has released details of its all-new round balers and redesigns to its large square balers aimed at increasing…

How to Improve Milking Efficiency in Swing-Over Herringbone Sheds

The swing-over herringbone is the most common dairy type in New Zealand, used on 69% of dairy farms. Simple changes…

Claas Jaguar 1000 Series sets new forage harvesting world record

The recently released Claas Jaguar 1000 Series has seen its flagship 1200 set a new official Guiness World Record in…

CB Norwood appoints John Skurr as new general manager

CB Norwood Distributors Limited has announced the appointment of John Skurr to the position of general manager.

AIMER, Bovonic and Herd-i join forces to advance NZ dairy tech

Three New Zealand agritech companies are set to join forces to help unlock the full potential of technology.

» Latest Print Issues Online

dairynewscover

ruralnewscover

winegrowercover

Milking It

Trump's tariffs

President Donald Trump’s decision to impose tariffs on imports into the US is doing good things for global trade, according…

Tanker on the roll

Seen a giant cheese roll rolling along Southland’s roads?

» eNewsletter