BP

Fonterra will have foreign exchange hedging in place for a big portion of the new season’s production, along with forward sale contracts, Kilsby said. Any global milk supply growth is presently elusive, Rabobank senior agricultural analyst Emma Higgins said. Low profitability has reduced dairy herds in the US and South America, and bad weather has impacted Europe. “This subdued global milk supply growth should help underpin a continuation of the dairy market recovery and an improvement in milk prices for dairy producers in most regions around the world.” farmersweekly.co.nz/markets/…

Global Dairy Trade Event 355 concluded with the GDT Price Index up 1.8% Key Results* AMF index up 1.2%, average price US$7,124/MT (€6,611/MT) Butter index up 2.1%, average price US$6,593/MT (€6,118/MT) BMP index up 1.7%, average price US$2,545/MT (€2,362/MT) Ched index up 8.0%, average price US$4,257/MT (€3,950/MT) LAC index down 1.3%, average price US$739/MT (€686/MT) MOZZ index up 2.3%, average price US$3,840/MT (€3,564/MT) SMP index up 0.4%, average price US$2,551/MT (€2,367/MT) WMP index up 2.4%, average price US$3,350/MT (€3,109/MT) Full results have been published on globaldairytrade.info/en/pro….