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The latest Global Dairy Trade auction lifted the GDT index 2.7%, with anhydrous milk fat up 5.3% and butter up 2.9%. World butter prices are back near all-time highs and are up 27% so far this year.
New Zealand's Fonterra farmgate forecast of NZ$6.55 per kg milk solids looks secure.
Strong global fat demand and rising butter prices support world dairy values, especially as New Zealand's export season is at its weakest.
farmersweekly.co.nzHugh StringlemanApr 18, 2018Not 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.
