Global Dairy Trade auction dips slightly
4 May, 2021 06:50 PM
2 minutes to read
The Country
Prices in the latest Global Dairy Trade auction have dipped for the second event in a row, with a 0.7 per cent drop across the board.
Whole Milk Powder - which has the biggest influence on Fonterra s farmgate milk price - rose 0.7 per cent to an average US$4,115/MT, while Skim Milk Powder - Fonterra s second biggest reference product - lifted 2.0 per cent to an average US $3,433/MT.
Butter Milk Powder posted the biggest increase - up 14.4 per cent to an average US$4,222/MT, but with very little product on offer.
Date
26/04/2021
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A blip in international dairy prices isn t rattling Fonterra s boss
A blip in international dairy prices isn t rattling Fonterra s boss 21 April 2021
Fonterra
Overall dairy prices slipped just 0.1 percent at last night s Global Dairy Trade auction - despite commentators picking another rise.
CEO Miles Hurrell says it s a flat - but still good - result, with China still going gangbusters.
He says four thousand dollars a tonne might ve been a bit high for the Middle East and African markets.
Dairy prices steady at GDT, Westpac lifts forecast to $8/kg
20 Apr, 2021 10:31 PM
3 minutes to read
Dairy prices were mostly steady at this morning s Global Dairy Trade auction. Photo / NZ Herald
Dairy prices were mostly steady at this morning s Global Dairy Trade auction. Photo / NZ Herald
Westpac has lifted its current season farmgate milk price forecast by 75c to $8.00 kg, following on from a steady Global Dairy Trade auction.
The bank s senior agri economist, Nathan Penny, also expects global dairy prices to remain stronger for longer in the current dairy price cycle.
At the same time, the bank has stuck with its similarly healthy $7.90/kg forecast for 2020/21.