On the eve of Fonterra revising its farmgate milk price, the overnight Global Dairy Trade auction (GDT) offered farmers some good news.
In the overnight auction, the GDT price index dropped 1.2% over the previous event. The first event of the NZ dairy season two weeks ago saw the price index dip 1.3%.
Whole milk powder price was down 1% overnight to an average price of $US$3189/metric tonne.
AMF index down 2.5%, average price US$6,060/MT
Butter index up 0.8%, average price US$5,611/MT
BMP not offered
Ched index down 3.6%, average price US$3,847/MT
LAC index up 8.2%, average price US$769/MT
RenCas index down 2.2%, average price US$4,898/MT
SMP index down 1.1%, average price US$2,003/MT
SWP index not available, average price not available
WMP index down 1.0%, average price US$3,189/MT