Westpac raises milk price forecast on strong GDT result

Wed, 16 Jan 2019

By Gavin Evans Jan. 16 (BusinessDesk) - A fourth straight increase in dairy auction prices has prompted Westpac to raise its price milk price forecast for the current season. The bank is picking a farm gate milk price of $6.30 per kilogram of milk solids, up from the $6.10 it had been picking early December. The upgrade puts its forecast at the top end of the revised $6-$6.30 range Fonterra provided last month. Average prices jumped 4.2 percent to US$3,057 a tonne at last night’s GlobalDairyTrade auction, with the key whole milk powder...

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