Dairy Prices Drop for First Time Since March

NEW ZEALAND - The average price fell 0.8 per cent to $US3434 a tonne, while the key whole milk powder price - which determines the payout to dairy farmers - fell 3.3 per cent to $US3022.
calendar icon 21 June 2017
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Radio NZ reports that today's overall fall followed a small 0.6 per cent lift at the previous auction and five consecutive rises before that.

Prices around $US3000 still represent a level where most farmers can break even.

Dairy co-operative Fonterra is forecasting an opening payout for the new 2017/18 season of $6.50 a kilogram of milk solids, while the 2016/17 forecast of $6.15 will be finalised later in the year.

The GDT price index is still the highest it has been in about three years, with analysts picking milk prices to stay around the $6 level.

TheCattleSite News Desk

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