Dairy auction from GlobalDairyTrade:
- Avg price $2,515 per metric ton from $2,446 in the last auction
- Prices hit a five-year low of $2,229 in Dec
- Whole milk powder price index -1.8% to $2,386
Not sure why the kiwi is rallying after the numbers but it's up to 0.7540 from 0.7510 quickly. Fonterra had lowered its forecasts last week and the market may have been looking for a larger decline in prices.
Long cheddar friends, especially delicious old cheddar.
