
New Zealand dairy cooperative Fonterra raised the midpoint of its current-year milk price forecast from NZD 9.50 to NZD 9.75 per kg of milk solids. It also lifted its organic milk price forecast to NZD 15.25, with a range of NZD 14.50 to 16.00, despite record milk collections.
Stronger demand for whole and skimmed milk powder from Southeast Asia, the Middle East, Africa and China supports global dairy prices, which feeds into the cost of milk-based feed ingredients for buyers.
Not 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.