Dairy prices head south at latest auction

Fonterra is currently forecasting it will pay its 9,000 farmer shareholders $8.50 to $10.00 per kgMS. (Image: Getty)

Wed, 05 Oct 2022

A significant lack of demand in the overnight Global Dairy Trade auction saw prices pull back 3.5%, with whole milk powder now down 25% from the peak in March.Butter prices had the largest decline, down 7.0% to US$4,983 ($8,688) a tonne. Whole milk powder fell 4.0% to US$3,573 a tonne.It was a “tough auction from the sell-side point of view, as NZ dairy production ramps up seasonally", said NZX dairy insights manager Stuart Davison. “The expectation of a strong auction off the back of poor milk production data evaporated i...

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