OMF NZ Dairy Futures Market report – December 10, 2013
WMP trades higher
WMP prices edged up on the futures yesterday. January was up $30 to $5050 and both March and April were up $50 to $4950.
EU prices way up
The European Union milk price is up 19% year on year; a record. The average price for deliveries in October was €39.86 versus €35.50 a year earlier.
Expect Fonterra payout to increase
Fonterra is currently paying $8.30 per kilogram of milk solids and this is expected to be raised shortly with some expectations it could be closer to $9; another record. Speaking of records, consider these:
Records for Africa
– Record production in NZ– Record international prices for Milk (well almost – WMP was higher through last year’s drought)– Record payout for NZ dairy farmers– Record importing for China
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