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The AgriHQ Snapshot New Zealand milk price rose 12 cents to NZ$4.21 per kgMS after the June 1 GDT auction, where the index gained 3.4%. Skim milk powder rose 12.1%, while whole milk powder fell 1.7% on larger offered volumes.
The firmer GDT result and weaker New Zealand dollar lift the farmgate price outlook, which supports global dairy prices and feed-related dairy demand.
farmersweekly.co.nzIsabella BealeJun 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.
