Wednesday, 05 July 2017 15:08

"Mild" fall in dairy prices

Written by 
Westpac analyst Michael Gordon says dairy prices may fall slightly over the year as global production bounces back from last year’s depressed levels.

Commenting on last night Global Dairy Trade (GDT) auction results, Gordon says there was a mild 0.4% fall in dairy prices.

“The product mix was effectively a mirror image of the previous auction, with a 2.6% rise in whole milk powder prices but declines for most other products.

“We’re expecting a modest fall in dairy prices over the rest of this year, as global milk production bounces back from last year’s depressed levels. Global demand continues to grow at a subdued pace, and stockpiles of milk powder remain substantial, especially in Europe.

“Russia recently extended its ban on food imports from the EU until the end of 2018, though it has yet to make a decision on the ban from other Western markets, which currently runs to the end of this year.”

Key Results AMF index down 3.5%, average price US$6,596/MT Butter index down 0.1%, average price US$5,775/MT BMP index up 10.8%, average price US$2,264/MT Ched index down 3.2%, average price US$4,051/MT LAC index down 3.3%, average price US$839/MT RenCas index down 2.7%, average price US$6,133/MT SMP index down 4.5%, average price US$2,090/MT WMP index up 2.6%, average price US$3,111/MT

More like this

Featured

Fencing excellence celebrated

The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards, providing the opportunity to honour both rising talent and industry stalwarts.

B+LNZ launches AI assistant for farmers

Beef + Lamb New Zealand has launched an AI-powered digital assistant to help farmers using the B+LNZ Knowledge Hub to create tailored answers and resources for their farming businesses.

National

Machinery & Products

Tech might take time

Agritech Unleashed – a one-day event held recently at Mystery Creek, near Hamilton – focused on technology as an ‘enabler’…

John Deere acquires GUSS Automation

John Deere has announced the full acquisition of GUSS Automation, LLC, a globally recognised leader in supervised high-value crop autonomy,…

Fencing excellence celebrated

The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards,…

» Latest Print Issues Online

The Hound

A step too far

OPINION: For years, the ironically named Dr Mike Joy has used his position at Victoria University to wage an activist-style…

Save us from SAFE

OPINION: A mate of yours truly has had an absolute gutsful of the activist group SAFE.

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter