$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.
Global dairy prices dropped slightly overnight but the flagship whole milk powder price managed a slight increase.
The GDT price index dropped 1.2% compared to the previous auction.
However, whole milk powder price rose 0.1% to US$3226/metric tonne. Futures had earlier predicted a 2% fall in WMP.
Skim milk powder price fell sharply- by 8.6% to US$1887/MT. Butter price was unchanged.
Key results
AMF index unchanged, average price US$6,249/MT
Butter index unchanged, average price US$5,281/MT
BMP not offered
Ched index down 3.9%, average price US$3,609/MT
LAC index not available, average price US$590/MT
RenCas index down 2.9%, average price US$4,948/MT
SMP index down 8.6%, average price US$1,887/MT
WMP index up 0.1%, average price US$3,226/MT
Fonterra has cemented its position as the country’s number one cheesemaker by picking up nine NZ Champion of Cheese trophies this year.
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Horticulture NZ chief executive Nadine Tunley will step down in August.
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.