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Fonterra reduces offer volumes further
11 January 2018
Fonterra has decreased its Global Dairy Trade (GDT) offer volumes again – for the second time in as many events. It said the reduction in volumes is driven by the impact of dry weather on milk flows. NZ has been very dry since late 2017, and while there has been some rain this week, more rain is still needed for pastures to recover from their current poor condition, and therefore for milk production to improve.
Milk price forecast turns a corner
4 January 2018
The AgriHQ milk price forecast for the current season has lifted just one cent to $6.10/kg milksolid (MS), the first lift recorded since October. The lift in prices at the January 2 Global Dairy Trade auction provided some support but movements in futures prices have been mixed. In the past fortnight futures contracts prices have lifted a little for whole milk powder, but skim milk powder, anhydrous milkfat and butter futures prices have eased a tad.
Dairy prices lift as milk volumes tighten
3 January 2018
Dairy commodity prices lifted at the first Global Dairy Trade (GDT) event of the year, on news that milk intakes from NZ will be lower than previously expected. The GDT Price Index lifted 2.2% pushed up by the higher prices received for milk powders. Last week Fonterra announced that it now expects its milk intakes for the 2017-18 season to be about 4% lower than last season as dry conditions limit pasture production. It also advised that it had started to reduce the volume of whole milk powder (WMP) available on the GDT platform in response to the lower outlook for its milk supply.
Whole milk powder price expected to rise
29 December 2017
Whole milk powder (WMP) prices are expected to lift at the January 2 Global Dairy Trade (GDT) event.
Fonterra slashes milk production forecast
29 December 2017
Fonterra has dramatically cut its milk production forecast for the current season as dry conditions slow the milk supply. Fonterra now expects to collect about 4% less milk this season than was collected last season.
Fonterra cuts whole milk powder offerings
28 December 2017
Fonterra has reduced the volume of whole milk powder (WMP) that it plans to sell via Global Dairy Trade (GDT) due to dry weather limiting milk supply. Cheddar and casein offerings have also been cut back.
Agriculture to have smaller impact on overall GDP
21 December 2017
Statistics New Zealand published changes to improve its quarterly gross domestic product data that show agriculture, forestry and fishing had a “large fall” regarding their relative importance in calculating the GDP, it said.
Forestry sector ends year on song
21 December 2017
All factors influencing wharfgate prices have been positive for log exporters over the past month, ending a year where returns have outperformed expectations.
Dry weather tempers Fonterra milk collections
21 December 2017
Fonterra milk collection in November increased 3% on the same month last year but current dry conditions has forced the Co-op to reduce its expected total intake for the season.
Milk price softens on back of weak auction results
21 December 2017
The AgriHQ milk price forecast has fallen on the back of the weak results at the latest Global Dairy Trade (GDT) event and a price correction in futures contract trading on the NZX Dairy Derivatives market. The AgriHQ forecast for the 2017-18 season now stands at $6.09/kg MS, down nine cents from our previous forecast.
