ANZ revised milk price forecast as pressure continues

Fri, 24 Mar 2023

ANZ Bank revised down its milk price forecast as further downward pressure comes on commodity prices.Dairy prices have been in decline in recent months as softer demand and increased milk volumes pull them down.That continued earlier this week with the Global Dairy Trade index falling 2.6%.For the current season, ANZ is now forecasting a farmgate milk price of $8.25 per kilogram of milk solids, 25 cents lower than previously forecast.That is at the lower end of Fonterra’s latest price guidance of $8.20 to $8.80/kgMS, and well below DairyN...

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