The Country
  • The Country home
  • Latest news
  • Audio & podcasts
  • Opinion
  • Dairy farming
  • Sheep & beef farming
  • Rural business
  • Rural technology
  • Rural life
  • Listen on iHeart radio

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • Coast & Country News
  • Opinion
  • Dairy farming
  • Sheep & beef farming
  • Horticulture
  • Animal health
  • Rural business
  • Rural technology
  • Rural life

Media

  • Podcasts
  • Video

Weather

  • Kaitaia
  • Whāngarei
  • Dargaville
  • Auckland
  • Thames
  • Tauranga
  • Hamilton
  • Whakatāne
  • Rotorua
  • Tokoroa
  • Te Kuiti
  • Taumurunui
  • Taupō
  • Gisborne
  • New Plymouth
  • Napier
  • Hastings
  • Dannevirke
  • Whanganui
  • Palmerston North
  • Levin
  • Paraparaumu
  • Masterton
  • Wellington
  • Motueka
  • Nelson
  • Blenheim
  • Westport
  • Reefton
  • Kaikōura
  • Greymouth
  • Hokitika
  • Christchurch
  • Ashburton
  • Timaru
  • Wānaka
  • Oamaru
  • Queenstown
  • Dunedin
  • Gore
  • Invercargill

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / The Country

Listen: How two summers have affected dairy product prices

The Country
16 Jan, 2019 12:30 AM2 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Fonterra's interim chief executive Miles Hurrell. Photo / Dean Purcell

Fonterra's interim chief executive Miles Hurrell. Photo / Dean Purcell

Dairy product prices gained at the Global Dairy Trade auction, as stronger demand pushed prices higher for the fourth straight auction.

The GDT price index rose 4.2 per cent, whole milk powder advanced 3 per cent and skim milk powder jumped 10.3 per cent.

Although this positive result was in line with futures market predictions, Fonterra's interim chief executive Miles Hurrell said it was "ahead of what we were expecting."

Hurrell told The Country's Jamie Mackay there were a few factors which contributed to the result, including support from China and a hot European summer which has slowed down milk volume there.

"The Europeans were holding a lot of skim milk powder stock and most of that's been exhausted now so you're starting to see that play out with a shortage of supply throughout the world."

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Back home, the hot New Zealand summer has not affected Fonterra's milk volume forecast so far, but "this is when things can turn very quickly if we don't see rain," said Hurrell.

"Our forecast at the moment is still 3 per cent up and we'll just watch that very closely over the next three to four weeks."

Hurrell remained coy when asked by Mackay if he will be changing from Fonterra's interim chief executive to taking up the role full time.

Advertisement
Advertise with NZME.

"That's a question you can put to the board ... let's not get ahead of ourselves."

Listen below:

Also in today's interview: Hurrell talks about Fonterra's share price and continues to deflect Mackay's enquiries about his potential job title change.

Discover more

Win a year's supply of Black Hawk dog food

03 Feb 10:15 PM

Synlait plant registration renewed

14 Jan 07:13 PM
Opinion

Tim Mackle: Dairy farmers leading charge to clean up water

15 Jan 04:00 PM
Business

Dairy product prices climb amid solid appetite

15 Jan 07:16 PM
Save

    Share this article

Latest from The Country

Premium
The Country

'They just keep coming': Illegal hunting causes frustration and fear on East Coast

The Country

Watch: CCTV shows moment drug-driver caused tractor to crash into homes

The Country

Te Puke incident: Person airlifted after serious injury


Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

Advertisement
Advertise with NZME.

Latest from The Country

Premium
Premium
'They just keep coming': Illegal hunting causes frustration and fear on East Coast
The Country

'They just keep coming': Illegal hunting causes frustration and fear on East Coast

East Coast MP Dana Kirkpatrick highlights rising poaching concerns.

17 Jul 06:00 AM
Watch: CCTV shows moment drug-driver caused tractor to crash into homes
The Country

Watch: CCTV shows moment drug-driver caused tractor to crash into homes

17 Jul 03:49 AM
Te Puke incident: Person airlifted after serious injury
The Country

Te Puke incident: Person airlifted after serious injury

17 Jul 02:26 AM


Solar bat monitors uncover secrets of Auckland’s night sky
Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

06 Jul 09:47 PM
NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP