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Fonterra raised its 2021-2022 farmgate milk price forecast to NZ$9.30-9.90 per kg milk solids, up 40 NZ cents at the midpoint. The co-op cited higher GDT whole milk and skim milk powder prices and lower milk collection forecasts in New Zealand.
A higher farmgate forecast reflects firm global dairy demand and constrained milk supply, supporting dairy product prices; higher feed costs from the Russia-Ukraine tensions add cost pressure to dairy producers.
foodagribusiness.worldRené GroeneveldMar 3, 2022Not enough comparable past events yet for a historical read.
Not 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.
