New Zealand Milk Price Forecast Dips Below $10/cwt

March 8, 2016 09:05 AM
 
Dsc_0023

Fonterra, the large cooperative that controls the vast majority of milk production in New Zealand, has again lowered its forecast for farmgate milk prices for the 2015/2016 season.

The forecast is lowered 6% to $2.63 per kilogram of milk solids. Based on conversion factors, that puts the projected milk price slightly below $10/cwt. The previous forecast, at $2.80 per kilogram of milk solids, translates to about $10.50/cwt.

“This further reduction in the forecast farmgate milk price is the last thing farmers want to hear in what is proving to be a very challenging season,” says Fonterra’s Chairman John Wilson.

Milk production this season is also projected to be down 4% compared to last year.

Read more details here

Back to news


 

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close