Milk Powder Prices Prop Up Farmgate Milk Price
Milk powder prices are keeping farmgate prices up, helping processors offset the dip in milk fat prices.
Global dairy prices have dipped slightly after consecutive rises in the Global Dairy Trade auction.
Last night’s auction delivered a 0.5% drop to the GDT price index.
However, whole milk powder was up 0.1% to US$3331/metric tonne.
Skim milk powder also continues its merry run, up 1.9% to US$3068/MT.
Key results
AMF index down 5.1%, average price US$4,840/MT
Butter index down 4.9%, average price US$3,983/MT
BMP index up 1.6%, average price US$2,846/MT
Ched index up 2.7%, average price US$3,797/MT
LAC index not available, average price US$779/MT
RenCas index up 4.9%, average price US$8,047/MT
SMP index up 1.9%, average price US$3,068/MT
SWP index not available, average price not available
WMP index up 0.1%, average price US$3,331/MT
With a general election under five weeks away, Rural News is asking major political parties about their policies and positions on key issues facing the primary sector. We will run their responses to each question over the next four weeks. The ACT Party and the Greens didn't respond in time.
Dr Scott Champion, Foundation for Arable Research chief executive, says that everyone in the supply chain had a role to play in driving the sector's long-term success.
The Minister for Rural Communities, Mark Patterson, says there's a massive infrastructure deficit in rural areas.
New Zealand's red meat and fifth-quarter exports reached $867 million in August, up 23% on the same month last year, as stronger returns lifted earnings across all major markets.
State farmer Pāmu is bracing for a $30 million hit from soaring farm input costs this financial year.
OPINION: It seems Canterbury processor Synlait is still in the doldrums.
OPINION: Get offside with New Zealand First leader Winston Peters at your own peril.