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.
Fonterra said on Friday its domestic milk production in January had fallen 5 percent year-on-year, which could be seen as a boon for global dairy prices as New Zealand is the world’s largest dairy exporter.
Almost every week the number of farmers who have been left without a home for their milk grows. This time, 52 farmers in New York are being released by Marcus Dairy, a fluid milk processor in Danbury, Conn.
Directly shipping their milk to military bases across the state, a new federal proposal would require the cooperative to send bottles of milk to a warehouse in Virginia before shipping the products back to New York.
New Zealand, the world’s biggest dairy exporter, will spend more than NZ$880 million ($610 million) in a bid to eradicate the mycoplasma bovis cattle disease, Prime Minister Jacinda Ardern said on Monday.