Wednesday, 07 August 2019 09:15

Dairy prices fall

Written by 
Dairy prices fell overnight in Global Dairy Trade auction, reversing the lift in the previous event. Dairy prices fell overnight in Global Dairy Trade auction, reversing the lift in the previous event.

Dairy prices fell overnight in Global Dairy Trade (GDT) auction, reversing the lift in the previous event.

The GDT price index was down 2.6%, compared to the previous auction, which had seen a 2.7% lift in the price index.

Worryingly for farmers, there was a 1.7% fall in whole milk powder prices. Prices for AMF and butter were also down, falling by more than 5%.

Westpac economists note that although not a large decline, one possible explanation could be China’s weakening of its currency in response to the US-China trade war.

Key results

AMF index down 5.1%, average price US$5,246/MT

Butter index down 5.5%, average price US$4,165/MT

BMP index down 5.6%, average price US$2,405/MT

Ched index down 2.0%, average price US$3,838/MT

LAC index down 11.5%, average price US$767/MT

RenCas index down 1.3%, average price US$6,885/MT

SMP index down 1.6%, average price US$2,482/MT

SWP index not available, average price not available

WMP index down 1.7%, average price US$3,039/MT

More like this

Export prices set to remain elevated

Horticultural prices are set to remain elevated this year, reflecting the balance between demand in key export markets and an increase in supply.

Feds, banks lock horns

Major rural lenders are welcoming a call by farmers for the Commerce Commission to investigate their net-zero emissions target.

Featured

Editorial: Sensible move

OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.

National

Machinery & Products

» Latest Print Issues Online

Milking It

Cuddling cows

OPINION: Years of floods and low food prices have driven a dairy farm in England's northeast to stop milking its…

Bikinis in cowshed

OPINION: An animal activist organisation is calling for an investigation into the use of dairy cows in sexuallly explicit content…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter