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 GDT price index rose 4%, its biggest jump since March when it soared 15%.
Whole milk powder price rose 3.3% to US$3691/metric tonne, its biggest rise since gaining 21% in March.
Skim milk powder also recorded a big jump; rising 7.3% to US$3274/MT.
Key Results
AMF index up 3.1%, average price US$5,970/MT
Butter index up 3.7%, average price US$4,948/MT
BMP index up 3.0%, average price US$3,287/MT
Ched index up 3.6%, average price US$4,328/MT
LAC index up 6.4%, average price US$1,167/MT
SMP index up 7.3%, average price US$3,274/MT
SWP not offered
WMP index up 3.3%, average price US$3,691/MT
