Displaying items by tag: Milk prices

A better than expected start to milk production in New Zealand has softened global dairy prices, says Westpac senior agri economist Nathan Penny.

A full rebalance of China’s dairy market is not expected in the near future, so dairy farmers in New Zealand and around the world will need to manage through more financial pain in the months ahead.

Dairy prices rose for the second successive Global Dairy Trade (GDT) auction last week, but the jury is still out on whether prices have turned a corner.

Fonterra has announced a final 2022-23 season farmgate milk price of $8.22/kgMS and a full-year dividend of 50c.

Have global dairy prices found a floor? Economists don't think so.

OPINION: Not so long ago, a payout starting with a six would have been happily accepted by the dairy sector.

Fonterra expects demand for its dairy products in China to return next year.

OPINION: The Government might not control the Chinese economy and global milk prices, but it can control the regulations and red tape it is imposing on farmers.

The forecast farmgate milk price is under more pressure following last week’s steep decline in whole milk powder prices on Global Dairy Trade (GDT).

Farmers have been told that an opening forecast milk price of $8/kgMS this season hinges on China’s demand for whole milk powder (WMP) bouncing back.