Milk Glut Drags Fonterra Forecast Down to $9.20/kgMS
A milk glut around the world shows no sign of easing, putting downward pressure on farmgate milk prices for the next few months.
The Global Dairy Trade (GDT) auction overnight saw the price index drop 1.6%.
While the flagship whole milk powder price rose 1.3%, butter fat prices fell heavily - anhydrous milk fat and butter were both down nearly 5% each.
Skim milk powder was down 3%.
But WMP is now priced at US$3155/tonne.
Key results
AMF index down 4.9%, average price US$6,289/MT
Butter index down 4.9%, average price US$5,747/MT
BMP index up 0.4%, average price US$2,198/MT
Ched index down 4.8%, average price US$3,932/MT
LAC index down 4.3%, average price US$787/MT
RenCas index down 4.4%, average price US$6,122/MT
SMP index down 3.0%, average price US$1,966/MT
WMP index up 1.3%, average price US$3,155/MT
New Zealand's citrus growers were challenged to build their future on the value embedded in their fruit rather than the volume they produce, at Citrus New Zealand's annual gathering in Gisborne on 17 September.
Leading John Deere technicians and apprentices from New Zealand and Australians were recognised at the recent sixth annual JD Technician of the Year Awards, held in Brisbane.
In Dacre, near Invercargill in New Zealand’s South Island, Bruce Dinnington is running a dairy operation unlike any other.
A free online platform aggregating governance vacancies across rural and regional New Zealand has been launched.
Environment Minister Nicola Grigg has announced details of a new rural plastics recycling scheme.
Agricultural drone operators say that a government decision to allow lower-risk drone work without certification won’t lower standards but drive innovation and efficiency.