Fonterra assessing jump in dairy prices while economists lift forecasts

The GDT price index rose 15% to an average selling price of US$4,231 a tonne

Wed, 03 Mar 2021

Economists hiked their milk price forecasts after the 21% jump in whole milk powder prices in the overnight Global Dairy Trade auction, but Fonterra’s chief executive said the dairy cooperative is “assessing the situation”.“Last night’s GDT results were some of the strongest we have seen to date — in fact, I would describe them as pretty extraordinary,” Miles Hurrell said in a letter for farmer shareholders. The futures market had anticipated a 6% rise in WMP.Running the numbersWMP prices are now US$4,3...

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