$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 eased slightly overnight, however whole milk powder price rose 1.6%.
The Global Dairy Trade (GDT) index dropped 0.6% compared to the previous event; pulled down by a 7% drop in anhydrous milk fat (AMF) price. Skim milk powder also slumped 1.8%.
However whole milk powder price is holding up; rising to US$3278/metric tonne.
Butter also rose, up 4% to nearly US$5500/MT.
Key results
AMF index down 7.0%, average price US$5,806/MT
Butter index up 4.1%, average price US$5,494/MT
BMP index up 1.0%, average price US$1,988/MT
Ched index up 2.2%, average price US$3,679/MT
LAC index up 1.1%, average price US$549/MT
RenCas index up 12.1%, average price US$5,668/MT
SMP index down 1.8%, average price US$1,849/MT
WMP index up 1.6%, average price US$3,278/MT
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