Global dairy prices dropped for a fourth consecutive time at a fortnightly auction on Wednesday as production in New Zealand showed signs of a potential turnaround after weak levels earlier in the season.
The world’s top dairy exporter, New Zealand’s Fonterra Co-operative Group Ltd, said on Tuesday that milk production in its home market fell 1 percent in March, pointing to support for global dairy prices.
Tariffs impacting dairy trade, a dairy processor buying a majority stake in a non-dairy milk company and a conservation easement program aimed at helping dairy farmers in New York are making headlines..
New Zealand's Fonterra Co-operative Group said on Thursday it will cut the price it pays Australian dairy farmers for their milk, following a similar move by rival Murray Goulburn amid a fall-off in demand from China.
President Trump hopes to sign a trade deal to open more agricultural and industrial opportunities with India shortly after the conclusion of the Senate impeachment trial, according to Pro Farmer’s Jim Wiesemeyer.
Strong profit results from Australian and New Zealand dairy processors on Wednesday fanned hopes of a market revival as farmers globally curb milk production after a glut that pushed prices to multi-year lows.