Editorial: Happy days
OPINION: The year has started positively for New Zealand dairy farmers and things are likely to get better.
In May this year, the price of butter of Global Dairy Trade platform nearly touched US$8,000/MT.
However, butter prices have dropped in the last 10 consecutive GDT auctions and now sit at around US $5900/MT.
While butter prices don't impact the farmgate milk price in a big way, the downward trend should mean cheaper prices for butter on supermarker shelves.
The media were quick to blame Fonterra for the rise in prices, but don't hold your breath for credit being given for the price drop!
