$8 final milk price likely
An $8/kgMS farm gate milk price is still on the cards with less than six weeks left to run this season.
Dairy prices have tumbled in the latest Global Dairy Trade (GDT) auction.
The GDT price index dropped 5% compared to the previous auction.
Surprisingly, whole milk powder prices dropped a whopping 7.3% to US$2905/MT.
According to Westpac head of NZ Strategy Imre Speizer, last night’s GDT result was “a decent surprise relative to futures market predictions of a 1% fall”.
“One reason could be trade war fears, with local production increases a weaker secondary explanation,” he says.
Key results
AMF index down 1.7%, average price US$5,937/MT
Butter index down 4.0%, average price US$5,390/MT
BMP index up 6.4%, average price US$2,480/MT
Ched index down 4.3%, average price US$3,713/MT
LAC index not available, average price not available
RenCas index up 3.6%, average price US$5,089/MT
SMP index down 4.6%, average price US$1,913/MT
SWP index not available, average price not available
WMP index down 7.3%, average price US$2,905/MT
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
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