Returns lift, costs down - DairyNZ
The outlook for dairy farmers this season has improved, especially when compared to forecasts only six months ago, according to DairyNZ.
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
Third-year student Cady Burns has won the Waikato Regional Council Prize in Water Science for 2024.
The Rural Change programme, providing free private mental health professional sessions to the rural industry, is set to continue its next chapter within Rural Support Trust from 1 July 2024.
Beef + Lamb New Zealand chief executive Sam McIvor will step down in July.
A new report shows farm employers across the dairy, sheep and beef, and arable sectors have continued to invest strongly in one of their greatest assets – their staff.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.