Ryan had the headlines from the Global Dairy Trade auction here: New Zealand Fonterra dairy price index rises 1.0%

A few more bits and pieces from around the place:

  • Wholemilk powder price was up +3.8%. (this is an important metric, it is a key product Fonterra uses for setting ts farmgate milk price)
  • WNP, while up 3.8% to US$2402 a tonne still falls well short of the US$3500 that would be required for the current forecast of $4.70 a kg to materialise
  • The AgriHQ Snapshot Farmgate Milk Price: if the latest GDT prices were achieved across the entire season, would equate to a milk price of $4.35/kg, a 20c increase from the previous auction

More here and here

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Yesterday: ANZ cuts Fonterra milk payout forecast to NZ$4.35/kg