Editorial: Punching Above Our Weight
OPINION: With 10,500 dairy farms, New Zealand continues to punch above its weight around the world.
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!
