Strong production, tested demand send milk prices crashing
Strong global milk production and rebalancing of demand among key buyers has delivered one of the biggest drops in whole milk powder prices in recent years.
The whole milk powder price slipped for the first time this year at the overnight Global Dairy Trade (GDT) auction.
WMP price dropped 0.8% to US$3232/metric tonne. Overall, the GDT price index dropped 0.6%, its second drop this year.
Skim milk powder price, which has been languishing for months, jumped 5.5% to US$2051/metric tonne, breaking the US$2000 barrier for the first time since August last year.
Key results
AMF index down 3.2%, average price US$6,245/MT
Butter index down 1.0%, average price US$5,280/MT
BMP index down 4.3%, average price US$1,959/MT
Ched index up 1.7%, average price US$3,759/MT
LAC index not available, average price not available
RenCas index up 2.2%, average price US$5,128/MT
SMP index up 5.5%, average price US$2,051/MT
WMP index down 0.8%, average price US$3,232/MT
DairyNZ has appointed Dr Jenny Jago to a newly created leadership team role - science partnerships & impact advisor - as part of a strategic refresh of the organisation's science leadership.
OPINION: Public pressure has led to Canterbury Police rightly rolling back its proposed restructure that would have seen several rural police stations closed in favour of centralised hubs.
When I interview Rachel Cox, she is driving - on her way to her next meeting.
With Fonterra's UHT plant at its Edendale site less than a year from completion, demand continues to grow for products the plant will produce, such as Anchor Whipping Cream.
A new $50,000 scholarship fund designed to support and empower women in the New Zealand dairy industry through leadership development has been launched.
Many farmers around the country are taking advantage of the high dairy payout to get maximum production out of their cows.