Wednesday, 03 October 2018 09:34

Dairy prices fall, again

Written by 
The GDT price index fell 1.9% overnight. The GDT price index fell 1.9% overnight.

Global dairy prices have fallen again and supply expectations out of New Zealand might be at play.

The Global Dairy Trade (GDT) price index fell 1.9% overnight, compared to the previous auction.

Whole milk powder price dropped 1.2% to US$2753/metric tonne, causing further downward pressure on forecast milk payouts.

Westpac’s head of NZ strategy, Imre Speizer says supply expectations may have weighed on the latest GDT auction.

He notes that growing conditions in NZ are good.

More milk out of NZ means more dairy products available on the global market, causing prices to dip.

Key results

AMF index down 4.4%, average price US$5,069/MT

Butter index down 5.9%, average price US$4,016/MT

BMP index up 3.6%, average price US$2,522/MT

Ched index down 1.2%, average price US$3,468/MT

LAC index up 0.6%, average price US$913/MT

RenCas index up 3.0%, average price US$5,552/MT

SMP index down 0.3%, average price US$1,982/MT

SWP index not available, average price not available

WMP index down 1.2%, average price US$2,753/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.

$10.25/kgMS milk price now in play

A significant rise in Global Dairy Trade (GDT) auction last week has prompted one bank to lift its forecast milk price for the season to above Fonterra's mid-point.

Featured

Big return on a small investment

Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.

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