ZB ZB
Opinion
Live now
Start time
Playing for
End time
Listen live
Listen to NAME OF STATION
Up next
Listen live on
ZB

Global dairy prices plunge again

Author
Newstalk ZB,
Publish Date
Wed, 16 Aug 2023, 7:12am
Photo / File
Photo / File

Global dairy prices plunge again

Author
Newstalk ZB,
Publish Date
Wed, 16 Aug 2023, 7:12am

Global dairy prices plunged by 7.4 percent overnight at the Global Dairy Trade auction.

Whole Milk Powder, which has the biggest influence on Fonterra's milk price, dropped 10.9-percent.

It comes less than two weeks after the dairy co-op drastically cut its forecast Farmgate Milk Price - with the midpoint falling from $8 to just $7.

JMI Wealth Director Andrew Kelleher told Mike Hosking the drop was expected.

He says the real issue is how long prices will stay this low for.

LISTEN ABOVE

 

Take your Radio, Podcasts and Music with you