Wednesday, 02 November 2016 16:40

Morale booster for dairy farmers at GDT auction

Written by 

Federated Farmers Dairy chairman Andrew Hoggard says this morning’s strong rise in global dairy prices is a morale booster for farmers.

Hoggard told Rural News online that things are looking more positive after the GDT price index rose 11.4% and the flagship whole milk powder prices rose a whopping 19.8% to US$3317/tonne.

WMP prices need to stay over US$3000/tonne for farmers to get a decent milk payout and make a profit, he says.

“Let’s hope the prices remain steady,” Hoggard says.

Hoggard also points out that money won’t start flowing to farmers straight away; it would take several months.

GDT key results
Price Index up 11.4%
AMF index up 2.6%, average price US$5,146/MT
Butter index up 4.0%, average price US$4,146/MT
BMP index down 5.4%, average price US$2,248/MT
Ched index up 0.9%, average price US$3,332/MT
LAC index down 4.0%, average price US$755/MT
RenCas index down 4.8%, average price US$6,025/MT
SMP index up 6.5%, average price US$2,329/MT
WMP index up 19.8%, average price US$3,317/MT

More like this

Fake milk bites processors

If you think only Fonterra is in financial dire straits... the US milk industry is reeling from the decline in dairy sales.

Dairy prices rise

The second Global Dairy Trade (GDT) auction of the year has delivered another positive result.

Hoggard eyes Feds presidency

Federated Farmers vice president Andrew Hoggard will be standing for president of the farmer lobby at this year’s annual meeting in June.

Featured

 

Celebrating healthy food

Mark Ross, chief executive of Agcarm on the work that goes into providing safe and healthy food to New Zealanders. 

No more coal-fired boilers

Canterbury-based Synlait Milk has reaffirmed its policy of building no more coal-fired boilers, with the official opening of the country’s first large-scale electrode boiler at its Dunsandel headquarters.

A slice of farming paradise in Auckland City

Livestock grazing on a farm with a good view of Auckland’s Sky Tower is the story behind the latest Dairy Women’s Network visual story telling project Our People, Their Stories.

Synlait unveils tree-planting scheme

Synlait Milk is establishing an industrial-scale native plant nursery at its Dunsandel headquarters as the centrepiece of a wide-ranging environmental initiative.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Appropriate

Your canine crusader reckons it is ironic – and highly appropriate – that Shane Jones’ $3 billion electoral slush fund…

Funny names

Over the years, a mate of the Hound’s has always been quick to point out to him people in roles…

» Connect with Rural News