Plunge in whole milk powder worse than expected

Plunge in whole milk powder worse than expected
(Image: Getty)
Staff reporters
 A plunge in whole milk powder prices in the overnight Global Dairy Trade auction was worse than expected.Whole milk powder, which has the biggest influence on Fonterra’s forecast milk price, was down 10.9% to US$2,548 (NZ$4,282) a tonne. It was the lowest since August 2016, according to ANZ Bank economists. Analysts had been expecting a fall of around 6% in WMP and a floor price of US$2,600 a tonne.  “WMP easing further adds a significant level of uncertainty around where to next, with the floor price unchallenged fo...

More Economy

Analysts struggle to find upside from Trump tariffs
Economy

Analysts struggle to find upside from Trump tariffs

‘They've forgotten the lessons of the Great Depression,’ one analyst said.

NZ goods to face 10% tariff to access US market
Economy

NZ goods to face 10% tariff to access US market

NZ dollar remains steady after announcement. 

What Willis was told ahead of Orr’s shock resignation
Economy

What Willis was told ahead of Orr’s shock resignation

Documents released under the OIA shed some light on what happened.

Staff reporters 02 Apr 2025
Westpac Bank’s Eckhold says April cut likely wrong move
Economy

Westpac Bank’s Eckhold says April cut likely wrong move

Economists are widely expecting a 25 bps rate cut next week. 

Rebecca Howard 02 Apr 2025