$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.
After four successive price increases, global dairy prices dipped slightly in Global Dairy Trade auction overnight.
The GDT price index was down 0.5%; whole milk powder prices dipped 0.8% to US$3568/tonne.
The slight drop in prices is not expected to impact forecast milk payouts announced by Fonterra and other independent processors.
Some 22,321 tonnes of product was sold last night, down from 22,472 tonnes at the previous auction.
Key results
AMF index down 2.3%, average price US$5,367/MT
Butter index up 0.5%, average price US$4,290/MT
BMP index up 3.1%, average price US$2,874/MT
Ched index up 1.9%, average price US$3,826/MT
LAC index down 1.6%, average price US$857/MT
RenCas index up 3.3%, average price US$6,473/MT
SMP index unchanged, average price US$2,621/MT
WMP index down 0.8%, average price US$3,568/MT
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
The Ministry for Primary Industries (MPI) has informed staff it will cut 391 jobs following a consultation period.
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