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December 2013 Dairy Update

Monday, 16 December 2013 at 12:17pm

The last Global Dairy Trade auction saw values rise by 3.9% even with large volumes offered, and analysts suggest China could be stockpiling as low tariffs are encouraging purchasing now.   Whole Milk powder price dropped but all other commodities lifted in price, and there was a lift in rennet casein by 7.3%.

Westpac economists have upped their milk payout predictions, which could break $9/kg ms once the dividend is added.
A turnaround in moisture levels has seen pasture prospects lift nationally as the country recovers from a dry spell and Fonterra predicts yearly milk flows to be up 6% on last year’s record volumes.

Some areas in the east coast of the south island are still a bit dry but dairying in these areas is covered by irrigation and the Southland dry is not predicted to last.