Wednesday, 03 August 2016 14:39

Good news at last - GDT up 6.6%

Written by Rural News Group

font size decrease font size increase font size
Print
Email

Good news at last.

The Global Dairy Trade price index was up 6.6% overnight, with the all-important whole milk powder up 9.9%.

Key Results:

AMF index up 4.7%, average price US$3,797/MT

Butter index up 6.6%, average price US$2,871/MT

BMP index up 7.7%, average price US$1,661/MT

Ched index down 0.8%, average price US$2,889/MT

LAC index up 3.7%, average price US$741/MT

RenCas index up 16.3%, average price US$6,161/MT

SMP index up 2.1%, average price US$1,965/MT

WMP index up 9.9%, average price US$2,265/MT

ASB rural economist Nathan Penny says the overall result was stronger than their expectations heading in; they expected WMP prices to lift by between 5% and 7%.

The bounce was also broad-based. On top of the WMP increase, casein prices surged 16%, while butter and BMP rose 7% and 8%, respectively. Only cheddar prices recorded a fall.

"From here, we expect rapidly tightening global supply to lift prices further over 2016," he says.

Featured

Czarnikow Launches Digital Milk Pricing Tool in NZ

New Zealand dairy farmers are set to be the first in the world to receive access to a new digital physical milk pricing tool that enables them to fix the price for their physical milk.

Pāmu Opens Farm Gates for Summer Open Farm Days

State farmer Pāmu is opening its farm gates this summer in an effort to give the rural sector the opportunity to see how large-scale, multi-system farming is delivering productivity and profitability across New Zealand.

Northland Study: Emissions Cuts "Unsustainable" for Dairy

A five-year study has found that the cost of reducing emissions without technology may be significant and unsustainable for Northland dairy farmers.

DairyNZ: Waikato Farmers Need Certainty on PC1 Rules

DairyNZ says Waikato farmers need certainty on Plan Change 1, but they say that certainty must be matched with practical, workable rules and a clear transition that doesn't get ahead of the new resource management system currently under review.

NZ Rural Contractors Push for Urgent VDAM Rule Reform

While the Government has moved quickly to make commercial hauliers' lot easier during the current fuel crisis, they appear to be stuck in the creep box when it comes to the agricultural industry.

Government's New Planning System, PC1 'Won't Mesh Together Well'

Waikato farmers have been told that the Government’s new planning system legislation and the region’s Plan Change 1 (PC1) “won’t mesh together very well”.