increase font size
Emma Higgins.
The second to last Global Dairy Trade (GDT) event for the 2017-18 production season saw the auction’s price index down 1.1%.
Whole milk powder price index was down 1.5% to US$3231/metric tonne.
Rabobank’s dairy analyst Emma Higgins says the drop in WMP price coincides with Fonterra revising upwards their production forecast for the full season to -2% (from -3% previously) to 1.5billion kgMS.
“Weather has improved for most parts around the country and in fact total New Zealand production for the season to date (March 2018) is only trailing marginally behind last season at just -0.3%.
“More generally, New Zealand product pricing tends to wane over the coming weeks as we move into our seasonal production hiatus and sentiment trails off as the focus shifts to the Northern Hemisphere.”
However, there still remains demand for fresh SMP and a late spring in the Northern Hemisphere delaying production has resulted in tighter fresh inventories.
“As such, we saw positive price support for SMP this morning, with a lift of 3.6% bringing the average SMP price just shy of the US$2000 mark.
“New Zealand product is still priced at a premium over European sourced SMP. And while demand for fresh is strong, old EU SMP stocks are seeing some clearing movement.”
Results
AMF index down 1.9%, average price US$6,032/MT
Butter index unchanged, average price US$5,647/MT
BMP index up 0.5%, average price US$1,990/MT
Ched index up 3.1%, average price US$4,024/MT
LAC index up 0.6%, average price US$616/MT
RenCas index down 10.5%, average price US$5,177/MT
SMP index up 3.6%, average price US$1,999/MT
WMP index down 1.5%, average price US$3,231/MT
Rabobank is launching the 2025 Rabobank Good Deeds Competition, giving rural community groups across New Zealand a chance to win a day’s labour support and $5,000 in funding for their nominated community project.
More than 70 farmers from across the North and South Islands recently spent a dayand- a-half learning new business management and planning skills at Rabobank Ag Pathways Programmes held in Invercargill, Ashburton and Hawera.
A new Indonesian school milk programme is expected to significantly increase the country's total dairy consumption, creating opportunities for New Zealand and other global dairy players.
Twenty rural community hubs across New Zealand will receive $5,000 to upgrade their facilities having been selected as the winners of Rabobank's Community Hub Competition.
Global Dairy Trade (GDT) and Arla Foods have announced that Arla will begin offering European-sourced skim milk powder (SMP) on GDT Pulse from May 2025 as part of an extension to the GDT Pulse pilot.
On the eve of his departure from Federated Farmers board, Richard McIntyre is thanking farmers for their support and words of encouragement during his stint as a farmer advocate.
A project reducing strains and sprains on farm has won the Innovation category in the New Zealand Workplace Health and Safety Awards 2025.
Beef + Lamb New Zealand (B+LNZ), in partnership with the Ministry for Primary Industries (MPI) and other sector organisations, has launched a national survey to understand better the impact of facial eczema (FE) on farmers.
One of New Zealand's latest and largest agrivoltaics farm Te Herenga o Te Rā is delivering clean renewable energy while preserving the land's agricultural value for sheep grazing under the modules.
Global food company Nestle’s chair Paul Bulcke will step down at its next annual meeting in April 2026.
Brendan Attrill of Caiseal Trust in Taranaki has been announced as the 2025 National Ambassador for Sustainable Farming and Growing and recipient of the Gordon Stephenson Trophy at the National Sustainability Showcase at in Wellington this evening.
OPINION: Last week, Greenpeace lit up Fonterra's Auckland headquarters with 'messages from the common people' - that the sector is…
OPINION: Once upon a time the Fieldays were for real farmers, salt of the earth people who thrived on hard…
