Wednesday, 08 May 2019 11:15

Dairy prices edge higher

Written by 

Dairy prices continued to edge higher in last night’s Global Dairy Trade (GDT) auction with the aggregate price index up 0.4%.

However, there were mixed results for the individual products on offer. 

Whole milk powder prices continued to edge lower, while butter prices were unchanged following their strong run over recent weeks.

Westpac analyst Anne Boniface says with just one more GDT auction before the 2018/19 season draws to a close at the end of May, the bank has “baked in the upside risk that we have been noting in recent weeks to our milk price forecast”. 

It’s now forecasting a $6.50/kgMS milk price for the 2018/19 season (previously $6.40) which would be toward the upper end of Fonterra’s $6.30-6.60 forecast range.

Key Results

AMF index up 1.4%, average price US$6,217/MT

Butter index unchanged, average price US$5,486/MT

BMP index down 10.3%, average price US$3,242/MT

Ched index down 2.4%, average price US$4,217/MT

LAC index down 2.7%, average price US$887/MT

RenCas index up 3.1%, average price US$6,610/MT

SMP index up 2.8%, average price US$2,521/MT

SWP index not available, average price not available

WMP index down 0.5%, average price US$3,249/MT

More like this

$7-plus still on the cards

Despite four consecutive drops in Global Dairy Trade (GDT) prices, analysts are sticking with a payout of around $7.20/kgMS for this season.

Is China back?

There was a silver lining to the fourth straight drop in global dairy prices last week: demand in China is recovering.

Dairy fundamentals looking good

Independent economist Cameron Bagrie says dairy fundamentals are looking pretty good, despite the GDT dropping in the past three auctions.


Winning comes easy

The 2020 Hawkes Bay/Wairarapa Dairy Industry Awards Share Farmer of the Year winners Nick and Rose Bertram are no strangers to success.


Raw milk supplier ploughs on

It's business as usual for Timaru raw milk suppliers Stuart and Andrea Weir as the country is in total COVID-19 lockdown.

» The RNG Weather Report

» Latest Print Issues Online

Milking It

Vegan milk service hits UK

OPINION: In March, the first national dairy-free milk delivery service will be coming to British doorsteps, a clear sign that…

Red seaweed 

Farmers in Australia are experimenting with adding seaweed to cattle feed in order to stop cows producing as much methane.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter