fbpx
Print this page
Wednesday, 17 February 2016 08:17

Price slide continues

Written by 
Global dairy prices have slumped for the fourth straight time this year. Global dairy prices have slumped for the fourth straight time this year.

Global dairy prices have slumped for the fourth straight time this year.

However, the drop was nowhere near the 5% to 10% predicted by futures market.

This morning's GDT event saw the auction price index down 2.8%.

Whole milk powder, Fonterra's flagship product on GDT, dropped 3.7% to US$1890/MT.

Skim milk powder was down 1.4% to US$1762/MT.

The continuing slide in dairy prices will put further pressure on Fonterra's current farm gate milk price of $4.15/kgMS.

Key Results from the latest GDT auction;

AMF index up 1.5%, average price US$3,527/MT

Butter index down 2.3%, average price US$2,834/MT

BMP index down 1.2%, average price US$1,496/MT

Ched index down 5.6%, average price US$2,535/MT

LAC index unchanged, average price US$574/MT

RenCas index down 11.5%, average price US$3,852/MT

SMP index down 1.4%, average price US$1,762/MT

WMP index down 3.7%, average price US$1,890/MT

More like this

Dairy prices slip

Dairy prices pulled back a bit in the overnight Global Dairy Trade (GDT) auction and it’s mostly to do with New Zealand’s biggest market, China.

Optimism in the air

There is a feeling of optimism in the dairy industry, says Federated Farmers dairy section chair Richard McIntyre.

Dairy has 'turned a corner'

A leading farm accountant and consultant believes the dairy industry has turned a corner as the rural sector navigates a downturn.

Featured

Sheep drench resistance costly

Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.

Dairy sheep and goat turmoil

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.

Hurry up and slow down!

OPINION: We have good friends from way back who had lived in one of our major cities for many years.

National

Knowing bugs means fewer drugs

A mastitis management company claims to deliver the fastest and most accurate mastitis testing available at scale for New Zealand…

Machinery & Products

AGTEK and ARGO part ways

After 12 years of representing the Landini and McCormick brands in New Zealand, Bay of Plenty-based AGTEK and the brands’…

100 years of Farmall Tractors

Returning after an enforced break, the Wheat and Wheels Rally will take place on the Lauriston -Barhill Road, North-East of…

JD unveils its latest beast

John Deere has unveiled its most powerful tractor ever, with the launch of the all new 9RX Series Tractor line-up…

Biggest Quadtrac coming to NZ!

In the biggest announcement that Case IH Australia/New Zealand has made around its tractor range, its biggest tractor is about…