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Dairy Farming NZ Aug 2017 Update

Thursday, 31 August 2017 at 2:12pm

Calving is well underway in the South Island, while in the North some farms have all but finished, and many cows are now returning to milking platforms.

 

Less rain at the beginning of August allowed soil to recover in some regions, after a wetter than average July.  Fortunately grass cover is good and, with NIWA forecasting warm temperatures over the next 3 months, we are on track for good feed supply this spring.

 

Whole Milk Powder (WMP) prices rose again at the beginning of August. This helps cement Fonterra’s 2017/18 season forecast price rise to $6.75/kgMS.  However Butter, Anhydrous Milk fat, and Cheddar fell 5% dragging the index back into negative territory by 1.6%.  ASB economists believe milk fat prices have more upside to go yet, as stocks are tight and demand strong.

 

Bobby calves products are also selling well in a steady market, although skins are 10% behind last year’s prices.