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The whole milk powder price rose 19.8% to US$3,317 per tonne at the GDT auction, moving above the roughly US$3,000 break-even level for New Zealand farmers for the first time in over two years. The overall GDT index rose 11.4%.
Prices above farmer break-even levels signal a firmer global dairy market, with higher payouts expected if the rally holds.
rnz.co.nzTe Reo Irirangi o AotearoaNov 1, 2016Not 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.
