Dairy prices continue to 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