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The first GDT auction for 2021 recorded a 3.9% rise in the price index.
It's a great start to 2021 for dairy farmers.
The Global Dairy Trade (GDT) overnight auction recorded a 3.9% rise in the price index.
Whole milk powder price, which determines Fonterra's milk price to farmer supplies, lifted 3.1% to US$3,306/metric tonne, sitting at its highest level in 12 months.
Key Results
AMF index up 5.5%, average price US$4,604/MT
Butter index up 7.2%, average price US$4,526/MT
BMP index up 6.9%, average price US$2,876/MT
Ched index up 5.0%, average price US$4,078/MT
LAC index up 7.4%, average price US$1,099/MT
SMP index up 4.1%, average price US$3,044/MT
SWP not offered
WMP index up 3.1%, average price US$3,306/MT
OPINION: There is zero chance that someone who joined Fonterra as a lobbyist, then served as a general manager of Fonterra's nutrient management programme, and sat on the board of Export NZ, a division of lobbyist group Business New Zealand, doesn't understand that local butter (and milk and cheese) prices are set by the international commodity price.
Kiwis love their butter, and that's great because New Zealand produces some of the best butter in the world. But when the price of butter goes up, it's tough for some, particularly when many other grocery staples have also gone up and the heat goes on co-operative Fonterra, the country's main butter maker. Here the co-op explains why butter prices are so high right now.
An A$2 billion bid for Fonterra's Oceania business would be great news, according to Forsyth Barr senior analyst, equities, Matt Montgomerie.
Global dairy prices have ended a two-month run of losses.
The world's largest dairy company may be in pole position to acquire Fonterra's Australian assets.
Fresh produce grower and exporter T&G Global has overturned last year’s dismal performance by reporting a half year net profit of $1.7 million.
One of New Zealand’s largest fertiliser plants could be forced to shut down for four months as uncertainty looms over gas supply.
Federated Farmers North Canterbury president Bex Green says two public meetings held this week should have made it loud and clear that rural families and businesses are concerned about proposed staffing changes at NZ Police.
The Environmental Protection Authority (EPA) is consulting on a proposal to ban weedkillers containing chlorthal-dimethyl (DCPA).
August 6 marks Farm Worker Appreciation Day, a moment to recognise the dedication and hard mahi of dairy farm workers across Aotearoa - and DairyNZ is taking the opportunity to celebrate the skilled teams working on its two research farms.
OPINION: The Government has been seeking industry feedback on its proposed amendments to a range of Resource Management Act (RMA) national direction instruments.
OPINION: Sydney has a $12 million milk disposal problem.
OPINION: Canterbury milk processor Synlait's recovery seems to have hit another snag.
