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Dairy commodity prices appear to level out after 63% fall
International export prices for dairy products stopped falling in the past two weeks, with the average price per tonne of whole milk powder staying at US$1,850, data sourced from Agridata shows. This was still 63% below its peak in October 2007. The New Zealand dollar price was stable at NZ$3,630.
Average butter prices matched those of whole milk powder, while the average price for skim milk powder stayed at US$1,750 (NZ$3,434). Cheddar cheese prices remained at an average of US$1,950 (NZ$3,827).
New Zealand dollar prices were stable as the NZ dollar at February 5 and 19 was just below 51 USc. However it did jump above 54 USc for a short period in between.
Fonterra's Managing Director of Global Trade Kelvin Wickham said in early February they believed the market had troughed.
"Westpac is basing dairy farm
"Westpac is basing dairy farm budgets on a $4.70/kgMS payout from Fonterra next season, the bank's Westland-based agribusiness manager Dean Rainham says."
A quote from http://www.ruralnews.co.nz/Default.asp?task=article&subtask=show&item=17...
Ending with this little comment "But as for where this season's payout will finish, it'll be "˜whatever Fonterra announces'"
So nobody has a friggin clue how this year is going to end up, but happy to take a stab at prices in 18mths, because by then nobody will have remembered this article.....