Weak supply keeping prices high
Weaker milk production in the Northern Hemisphere is keeping dairy prices high.
Global dairy prices have dipped slightly after consecutive rises in the Global Dairy Trade auction.
Last night’s auction delivered a 0.5% drop to the GDT price index.
However, whole milk powder was up 0.1% to US$3331/metric tonne.
Skim milk powder also continues its merry run, up 1.9% to US$3068/MT.
Key results
AMF index down 5.1%, average price US$4,840/MT
Butter index down 4.9%, average price US$3,983/MT
BMP index up 1.6%, average price US$2,846/MT
Ched index up 2.7%, average price US$3,797/MT
LAC index not available, average price US$779/MT
RenCas index up 4.9%, average price US$8,047/MT
SMP index up 1.9%, average price US$3,068/MT
SWP index not available, average price not available
WMP index up 0.1%, average price US$3,331/MT
Reeling from two consecutive years of heavy losses, Alliance says it has appointed Craigs Investment Partners to explore external capital-raising options.
Meat company Alliance has posted a second consecutive trading year of a heavy loss.
Red meat farmers are warning that wholesale conversion of farms into forestry to achieve climate change targets will be unsustainable for the country.
Silver Fern Farms chief executive Dan Boulton says his recent visit to China has left him feeling optimistic about the situation there for the meat industry.
Fonterra leaders are making their case for offloading the co-operative's $3 billion consumer business, noting that its return on capital has been nowhere near respectable.
The horticulture sector is a big winner from recent free trade deals sealed with the Gulf states, says Associate Agriculture Minister Nicola Grigg.
OPINION: Fonterra may have sold its dairy farms in China but the appetite for collaboration with the country remains strong.
OPINION: The Listener's latest piece on winter grazing among Southland dairy farmers leaves much to be desired.