Middle East demand cushions global dairy price drop at latest GDT auction
The upheaval in the Middle East may have eased the fall in global dairy prices last week.
The GlobalDairyTrade (GDT) auction slumped overnight, after six straight increases.
The GDT index fell 8.8% to an average price of US$3136 (NZ$4292) a tonne, down from US$3374 at the previous auction.
Last night’s auction is the first to be held since the revelation that someone had threatened to contaminate milk products, with the pest control poison 1080.
Whole milk powder slumped 9.6%.
Every other product traded also fell, with rennet casein down 15.2%, butter milk powder down 11.6%, butter down 9.4%, anhydrous milk fat down 8.4%, cheddar down 7.4%, and skim milk powder down 5.5%.
Just over 20,000 tonnes of product was traded at the latest auction.
Key Results
AMF index down 8.4%, average price US$3,877/MT
Butter index down 9.4%, average price US$3,555/MT
BMP index down 11.6%, average price US$2,635/MT
Ched index down 7.4%, average price US$3,130/MT
LAC not offered
RenCas index down 15.2%, average price US$7,507/MT
SMP index down 5.5%, average price US$2,731/MT
SWP index not available, average price not available
WMP index down 9.6%, average price US$2,928/MT
Full results have been published on www.GlobalDairyTrade.info.
Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.
Within the next 10 years, New Zealand agriculture will need to manage its largest-ever intergenerational transfer of wealth, conservatively valued at $150 billion in farming assets.
Boutique Waikato cheese producer Meyer Cheese is investing in a new $3.5 million facility, designed to boost capacity and enhance the company's sustainability credentials.
OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.
Compensation assistance for farmers impacted by Mycoplama bovis is being wound up.
Selecting the reverse gear quicker than a lovestruck boyfriend who has met the in-laws for the first time, the Coalition Government has confirmed that the proposal to amend Fringe Benefit Tax (FBT) charged against farm utes has been canned.
OPINION: Dust ups between rural media and PR types aren't unheard of but also aren't common, given part of the…
OPINION: The Hound hears from his canine pals in Southland that an individual's derogatory remarks on social media have left…