Butter milk powder lifted 6.4%, to an average of US$3147/MT, and anhydrous milk fat climbed 5%, to an average of US$6524/MT. Fonterra global ingredients president Richard Allen told The Country’s Jamie Mackay the strong auction was a clear sign that global demand was robust, and a “great result for our farmers back here in New Zealand”. Despite recent talk of a global milk glut, Allen said the picture was more nuanced. He said Fonterra would “run the numbers” — including the impact of recent foreign exchange movements — before making any call on revising the farmgate milk price. On December 18, Fonterra further narrowed its 2025/26 farmgate milk price forecast to a range of $8.50-$9.50/kgMS, with a midpoint of $9 per kgMS.

Source: New Zealand Herald February 04, 2026 14:23 UTC