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Global Dairy Trade prices fell 3.5% at the latest auction, with whole milk powder down 5.5% to US$2852 a tonne and butter down 3.6%. The fall puts pressure on Fonterra's $6.75/kg forecast, though a roughly 4% drop in the NZ dollar offsets part of the decline.
Weaker dairy product prices reduce milk price expectations and lower returns for dairy farms, with a softer NZ dollar partly cushioning the effect for exporters.
nzherald.co.nzJamie GrayNov 7, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
