Wednesday, 19 August 2020 08:41

Dairy prices slump

Written by Staff Reporters

font size decrease font size increase font size
Print
Email

The GDT price index has had its third consecutive drop.

The overnight Global Dairy Trade (GDT) auction has delivered another disappointing result.

The GDT price index dropped 1.7%, its third consecutive drop.

Whole milk powder prices slumped 2.2% to US$2936/metric tonne, dipping below the US$3000/MT for the first time since February this year.

Key results

AMF index down 2.9%, average price US$3,873/MT

Butter index down 2.0%, average price US$3,370/MT

BMP not offered

Ched index down 3.6%, average price US$3,442/MT

LAC index down 3.3%, average price US$1,303/MT

SMP index up 1.1%, average price US$2,608/MT

SWP index not available, average price not available

WMP index down 2.2%, average price US$2,936/MT

Featured

India-New Zealand free trade agreement (FTA) dairy outcomes

OPINION: As negotiations advance on the India-New Zealand FTA, it’s important to remember the joint commitment made by Indian Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon at the beginning of this process in March: for a balanced, ambitious, comprehensive, and mutually beneficial agreement.

Massey University Opens $70m Ngā Huia Vet Facility

Minister for Universities, Shane Reti, has opened the final new build in a ten plus year project to upgrade the veterinary facilities at Massey University.

Honesty vital in flood insurance claims, says IFSO

As New Zealand experiences more frequent and severe flooding events, the Insurance & Financial Services Ombudsman Scheme (IFSO Scheme) is urging consumers to be honest and accurate when making insurance claims for flood damage.

Velvetleaf Threat: North Island growers urged to stay vigilant

A recently held arable field day in the Manawatu brought with it a timely reminder to be on the lookout for velvetleaf incursions.

Wage Theft Becomes Criminal Offence: What NZ farmers need to know

In a significant shift for employers, wage theft is no longer only a civil matter but now also a criminal one.

Fonterra launches dairy youth programme with Growing Future Farmers

In partnership with Growing Future Farmers (GFF), Fonterra says it is increasing support for young people entering the dairy industry with a new two-year programme.

National

Culverden dairy farmer counts cost of windstorm damage to irrigation

The effects of the big windstorm of late October will be felt in lost production in coming weeks as repair crews…

NZ dairy sector eyes inclusion in India free trade deal

The dairy sector is hopeful of being part of a free trade deal being hammered out between New Zealand and…

Dairy farmers urged to participate in 2026 Levy vote

DairyNZ chair Tracy Brown is urging dairy farmers to participate in the 2026 Levy vote, to be held early next…

Winston Peters calls Fonterra vote result 'utter madness'

New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of…

Fieldays calls for strategic investment in its future

A function at Parliament on 7th October brought together central government decision-makers, MPs, industry stakeholders and commercial partners to highlight…