Returns lift, costs down - DairyNZ
The outlook for dairy farmers this season has improved, especially when compared to forecasts only six months ago, according to DairyNZ.
Dairy product prices gained slightly at the Global Dairy Trade auction overnight.
The GDT price index rose 1.3% to US$3,537, up from US$3,517 at the previous auction three weeks ago. Some 21,273 tonnes of product was sold, below the 22,030 tonnes at the previous auction.
The all-important whole milk powder rose 1% to US$3,314 a tonne; skim milk powder inched 0.1% higher to US$2,608 a tonne.
There were a few big gains too; lactose jumped 12.4 % to US$910 a tonne, while butter climbed 4.9% to US$4,593 a tonne. Anhydrous milk fat gained 4% to US$5,765 a tonne.
Key Results
AMF index up 4.0%, average price US$5,765/MT
Butter index up 4.9%, average price US$4,593/MT
BMP index down 7.5%, average price US$2,254/MT
Ched index down 3.7%, average price US$3,798/MT
LAC index up 12.4%, average price US$910/MT
RenCas index down 0.4%, average price US$6,445/MT
SMP index up 0.1%, average price US$2,608/MT
WMP index up 1.0%, average price US$3,314/MT
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