OPINION: Credit where due, NZ Herald at least reported that agricultural leadership had pitched in to do its bit.
Banks are mainly holding firm on their forecasts of $7/kgMS despite last week’s flat Global Dairy Trade result – a small decline of 0.4% in the overall price index.
Was last week’s 3.4% drop in the Global Dairy Trade overall price index a warning sign or a temporary dip? Economists are divided.
Softer whole milk powder (WMP) prices are not surprising given China’s strong import activity recently and the steadily increasing WMP pricing, says Rabobank dairy analyst Emma Higgins.
After eleven consecutive rises, the Global Dairy Trade (GDT) price index dropped in the overnight auction.
The Global Dairy Trade (GDT) price index rose just 0.4% last week, but positive indicators will maintain market optimism for the new season, says BNZ senior economist Doug Steel.
Dairy prices continued to edge higher in last night’s Global Dairy Trade (GDT) auction with the aggregate price index up 0.4%.
Soaring butter prices may see next season’s milk price go beyond $7/kgMS – even as high as the mid sevens.
The Global Dairy Trade (GDT) price index has now risen in ten consecutive auctions and is up 23% since the start of the year.