Demand should continue to grow.
Dairy farmers have seen low milk prices before, but the current downturn has been severe in its duration. As some dairy farms fail, others are finding new paths forward.
Global Dairy Trade Event 216 concluded with the GDT Price Index down 1.7%
Some of the lowest milk prices in recent history are causing dairy farmers across the country to sell their cows and stop production, but one man in eastern Iowa says he’s still making things work on his small dairy farm.
FONTERRA HAS announced an opening price of $5.85 per kilo of milk solids for the 2018–19 season and a forecast closing rage of $5.85–$6.20 kg/MS.
Raw milk prices have dropped to their lowest point since 2012, further threatening the revenue of Chinese dairy farmers already facing tough competition from imports.
The ground under dairy prices is looking shaky this season but it’s hoped the fall in the value of the New Zealand dollar will provide some safe footing.
HIGHER grain prices have offset farmer gains from milk processors’ improved season-opening prices.
The ASB says trade tensions between the United States and China are behind the plunge in prices at the latest global dairy auction.
Prices plunged at the latest global dairy auction by 5 per cent per cent to reach an average of US$3232, the most dramatic decrease seen in the index this year.