Steady GlobalDairyTrade Result Welcomed by Farmers

Steady Globaldairytrade Result Welcomed by Farmers

Today’s steadying of GlobalDairyTrade is a welcome news for dairy farmers.

“With peak milk about four weeks away we could do with some good news and while steady as she goes isn’t a plus sign, at least it is not a negative,” says Andrew Hoggard, Federated Farmers Dairy chair.

“While cheeses and Anhydrous Milk Fat fell, it was great to see plus signs beside the milkpowders.

“The last two auctions have been for over 50,000 metric ton of product and both have had over 150 winning bidders. The last four trading events have seen two falls, one very minor fall and today’s no change.

“While global milk production is still feeding into the market I have a hunch we’re close to or at the bottom but there’s a heck of uncertainty out there. The Russian situation and dislocation of European Milk is still playing out.

“If I can make a plea to the media it is this.

“Going back to February has absolutely no bearing on the 2015/16 season we are currently in. The only GDT auctions relevant to this season’s payout are those starting 3 June 2014.

“Going back to February may make for a more dramatic story but it is wrong if you are talking the current season’s payout.

“Federated Farmers advice remains to budget conservatively as per previous advice,” Mr Hoggard concluded.

ENDS

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