$10.25/kgMS milk price now in play
A significant rise in Global Dairy Trade (GDT) auction last week has prompted one bank to lift its forecast milk price for the season to above Fonterra's mid-point.
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
