26 minutes ago
The new dairy season is off to a disappointing start for farmers as both the average global dairy price and whole milk powder prices dropped.
The average price fell 0.6 percent overnight to US$4021 (NZ$6786) a tonne at the global dairy trade auction overnight. It comes after a 0.6 percent increase at the previous auction a fortnight ago.
The important whole milk powder price, which influences dairy farmer payouts in New Zealand, fell 2.2 percent to US$3706 a tonne.
In a note, NZX markets analyst Liam Hoggard said it was a "mixed result", with expectations offset by a "downside surprise" for whole milk powder.
