This week’s GDT – global dairy trade auction – saw milk powder prices rise, while milk fat prices fell.
Sky-high butter prices were back by about 11%.
But the all-important December futures contract for WMP – whole milk powder - settled at USD$2835/t - indicating an increase of 3.5% over this month’s GDT events.
Amy Castleton, NZX AgriHQ dairy analyst, joins Rural Exchange to go through the numbers and the outlook for dairy prices.
She says the lift in whole milk powder is welcome news for dairy farmers.
“We can see a lot of support there.”
European production is being blamed for higher butter prices.
There’s more butter coming out of Europe which has pushed the commodity price for butter down.
Watch the full interview with Amy Castleton above.