Global dairy prices dropped for the ninth time in 11 auctions last night, with the GDT price index retreating 1.7 per cent. However, it's not all bad news, as whole milk powder gained 1.5 per cent.
Fonterra's Head of Farm Source for Otago/Southland Mark Robinson spoke to The Country's JamieMackay about the latest result, saying "overall it was a pretty big result."
Listen below:
"The pleasing news of course for us is that whole milk powder and skim milk powder both bounced back," says Robinson.
Mackay asks if the $7 milk price forecast payout is under threat from the dropping GDT.
Robinson disagrees, saying Fonterra's milk price forecast is based on a consolidation of GDT events for the whole year, so the current forecast does in fact "reflect the long-term view of the marketplace."
Also in today's interview: Mark Robinson discusses milk volumes for the coming season and how Otago/Southland farmers are coping with Mycoplasma bovis.
