Friday, 09 February 2018 14:23

$6.40 payout ‘achievable’

Written by 
Doug Steel. Doug Steel.

Fonterra’s forecast milk price of $6.40/kgMS looks a lot more achievable now, according to BNZ senior economist Doug Steel.

Speaking at the Northern Dairy Development Trust Conference in Whangarei today, Steel said things were looking much better now than in December.

Global Dairy Trade auction prices have risen three times this year.

Steel told about 120 farmers at the conference that whole milk powder prices were up 13% in the three auctions this year.

“It’s pretty much a recognition that NZ weather has been awful; clearly the markets recognised that weather had been dry from November to December,” Steel says.

More like this

Editorial: Well Done, Miles!

OPINION: In 2018, when Fonterra’s board tapped Miles Hurrell to step in as interim chief executive, the co-operative was in the doldrums.

Next CEO

OPINION: Who will replace Miles Hurrell as Fonterra's next CEO?

Media Obsession

OPINION: The mainstream media's obsession with (sleazy) 'tabloid' issues were to the fore at Fonterra's recent media conference to discuss its interim results.

Featured

National

Machinery & Products

» Latest Print Issues Online

Milking It

Next CEO

OPINION: Who will replace Miles Hurrell as Fonterra's next CEO?

Fuel Crisis

OPINION: Governments all over the world are dealing with the fuel crisis.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter