Dairy prices tipped to lift by as much as 3% at this week's auction

Dairy prices tipped to lift by as much as 3% at this week's auction
If dairy prices push higher, it could mean Fonterra opts to rejig its forecast payout. (Image: Getty)
Rebecca Howard
Dairy prices are expected to tick higher at this week’s Global Dairy Trade auction, which may see Fonterra lifting its forecast payout for the current season. Westpac Bank said they expect whole milk powder (WMP) prices to lift 2% in this week’s auction after rising 1.9% at the previous auction. The auction will take place overnight on Tuesday. “Our pick roughly splits the flat result at the recent mini (GDT pulse) auctions and the circa 5% price lift as indicated by the futures market,” Westpac economists said.&nbs...

More Primary Sector

Why Fonterra Oceania makes sense
Finance

Why Fonterra Oceania makes sense

It’ll be made out of Fonterra Australia and Fonterra Brands NZ.

Water storage announcements imminent?
Primary Sector

Water storage announcements imminent?

The government appears to be embracing the economic potential of capturing more water.

ANZ follows Fonterra’s higher milk price forecast
Primary Sector

ANZ follows Fonterra’s higher milk price forecast

Bank raises forecast price to $7.85 per kilo of milksolids.

Staff reporters 22 Feb 2024
Honey industry aims for billion-dollar export industry by 2030
Primary Sector

Honey industry aims for billion-dollar export industry by 2030

A new industry body is on the cards to push that goal forward.

Greg Hurrell 22 Feb 2024