Weak supply keeping prices high
Weaker milk production in the Northern Hemisphere is keeping dairy prices high.
Global dairy prices have unexpectedly dropped in the latest Global Dairy Trade (GDT) auction.
The GDT price index was down 2.4% compared to the previous auction; flagship whole milk powder price was down 2.7% to US$3037/MT.
The futures market had predicted a 6% rise in WMP prices.
Westpac senior market strategist Imre Speizer says the GDT result was disappointing.
“GDT dairy auction saw prices fall 2.4% overall, with whole milk powder down 2.7% - a disappointing result given futures markets had earlier priced a 6% rise,” he says
The overnight auction also saw fat prices ease from their record highs.
Key results
AMF index down 3.4%, average price US$6,504/MT
Butter index down 3.6%, average price US$5,837/MT
BMP index down 10.3%, average price US$1,804/MT
Ched index up 1.9%, average price US$4,109/MT
LAC index not available, average price not available
RenCas index up 0.9%, average price US$6,123/MT
SMP index down 1.4%, average price US$1,895/MT
WMP index down 2.7%, average price US$3,037/MT
Groundswell NZ is ramping up its ‘Quit Paris’ campaign.
A further ten commercial beef farmers have been selected to take part in the Informing New Zealand Beef (INZB) programme to help drive the uptake of genetics in the industry.
This morning, NZ Young Farmers (NZYF) has announced that Cheyne Gillooly will take over as its chief executive in June.
The message for the 2025 World Bee Day is a call to action for sustainable practices that support bees, improve food security, and protect biosecurity in the face of mounting climate pressures.
Consumers around the world are willing to pay more for products containing dairy and this is driving demand for butter and cream, says Fonterra.
Deputy Prime Minister Winston Peters often describes NZ as a small and isolated nation situated 'just north of the penguins' but says in terms of global affairs, NZ and other small nations should be judged on the quality of their arguments and not the size of their military.
OPINION: Last week's announcement of Prime Minister’s new Science and Technology Advisory Council hasn’t gone down too well in the…
OPINION: At its recent annual general meeting, Federated Farmers’ Auckland province called for New Zealand to withdraw from the Paris…