Dairy commodity prices have trended higher this season, buoying the outlook for farmers, ANZ says. ANZ has raised its expectation for Fonterra’s farmgate milk price this season as dairy commodity prices push higher. “Dairy commodity prices have trended higher as the season has progressed. Often prices weaken at this time of the season, but this season prices have instead firmed,” Kilsby said. Kilsby noted global milk supplies were only expanding slowly, and high grain costs were constraining production in the Northern Hemisphere.

Source: Stuff October 07, 2021 03:11 UTC