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The GDT Price Index fell 2% overnight, compared to the previous event.
Global dairy prices have continued their downward slide.
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.
Key results
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
In a follow-up to this old mutt’s piece two issues ago about Fonterra directors getting to grips with the co-op’s financial state and loudly sharing their dismay in the Koru club, another of the Hound’s spies has passed on more news in the ‘Fonterra director watch’ category.
Fonterra says there’s an urgent need to improve return on capital invested in the co-op by farmers and unit holders.
Fonterra has taken a $126 million hit over the sale of its stake in Venezuelan consumer joint venture, Corporacion Inlaca.
Fonterra is pulling out of a European joint venture as part of its portfolio review following last year’s disastrous financial results.
Fonterra says it has returned to profitability with a net profit of $80m for the first half of the 2019 financial year.
Chinese dairy giant Yili will pay $588 million for dairy co-op Westland Milk, it was announced overnight.
The proposed sale of Westland Milk to Chinese company Yili is causing alarm among social media users.
Landcorp is paying members of its contentious environmental reference group (ERG) $1500 a day each – far more than other…
An Irish dairy researcher says despite admiring New Zealand’s dairy industry he has concerns about it.
OPINION: The PM's unrealistic claim of a free trade agreement with the EU before the end of the year is proving…
More questions are being asked about the Government’s contentious $10 million loan to Westland.
Cows and bulls searching for ‘moo love’ now have a mobile app to help their breeders.
