ANZ Warns of Milk Price Risks as New Dairy Season Begins
The new dairy season is kicking off with plenty of risks to the forecast farmgate price, both upside and downside, says ANZ agricultural economist Matt Dilly.
The average price was US$2920/MT with 131 winning bidders over 14 rounds.
The all-important whole milk powder index was up a more modest 3.7% with an average price of US$2793/MT.
Key results were:
AMF index up 15.4%, average price US$4,769/MT
Butter index up 14.9%, average price US$3,764/MT
BMP index up 6.8%, average price US$2,070/MT
Ched index up 9.0%, average price US$3,436/MT
LAC index up 2.0%, average price US$787/MT
RenCas index up 6.7%, average price US$6,720/MT
SMP index up 10.0%, average price US$2,224/MT
WMP index up 3.7%, average price US$2,793/MT
The next auction is overnight Tuesday, September 20 with result out Wednesday, September 21.
