$8 final milk price likely
An $8/kgMS farm gate milk price is still on the cards with less than six weeks left to run this season.
Global dairy prices have taken a hit in the overnight auction.
As predicted by the futures market, prices fell as concerns grew around coronavirus in China and its impact on global trade.
China is Fonterra’s major key market: Around 11% of all dairy consumption in China comes from Fonterra
The GDT price index fell 4.7%: whole milk powder down 6.2%, skimmed milk powder down 4.2%, and butter up 0.2%.
Updated coronavirus statistics show confirmed cases total 20,708 worldwide (20,483 in China), of which 4% have recovered, 13% are in critical condition, and 427 have died (425 in China).
Key results
AMF index down 4.5%, average price US$4,626/MT
Butter index up 0.2%, average price US$4,258/MT
BMP index down 5.2%, average price US$2,886/MT
Ched index up 6.0%, average price US$4,302/MT
LAC index up 2.5%, average price US$830/MT
RenCas index up 6.0%, average price US$9,956/MT
SMP index down 4.2%, average price US$2,907/MT
SWP index not available, average price not available
WMP index down 6.2%, average price US$3,039/MT
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Two major red meat sector projects are getting up to a combined $1.7 million in funding from the New Zealand Meat Board (NZMB).
Angus Barr and Tara Dwyer of The Wandle, Lone Star Farms in Strath Taieri have been named the Regional Supreme Winners at the Otago Ballance Farm Environment Awards in Dunedin.
OPINION: The distress that the politicians and bureaucrats are causing to the people of Wairoa and the wider Tairāwhiti is unforgivable.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.