Fonterra has copped a fair bit of stick from the Hound over the years. However, on this occasionyour old mate would like to give the dairy co-op some well-deserved praise.
The Global Dairy Trade (GDT) event overnight concluded with the GDT Price Index down 2%, compared to the previous event.
For NZ farmers, the biggest worry will be the continued drop in whole milk powder prices, the benchmark used by Fonterra to set its milk payout.
WMP price dropped 2.9% to US$2,665/MT.
AMF index down 1.3%, average price US$5,044/MT
Butter index down 1.7%, average price US$4,045/MT
BMP index up 0.8%, average price US$2,568/MT
Ched index down 4.6%, average price US$3,250/MT
LAC index down 2.7%, average price US$902/MT
RenCas index down 2.9%, average price US$5,327/MT
SMP index up 1.2%, average price US$1,997/MT
SWP index not available, average price not available
WMP index down 2.9%, average price US$2,655/MT