MPI – 10 March 2017
Thursday, 9 March, 2017
Latest MPI is 27.88ppl. The GDT index in New Zealand fell sharply on Tuesday, with the overall index down by 6.3% with an average winning price of $3,512, WMP fell sharply yesterday, down by 12.4% for an average winning price of $2,782, back to October 2016 levels.
The partial recovery that saw commodity prices rise April to October was buoyed by butter and cream, and closer to home, these are still doing well. Butter gets some support this week in three leading European dairy price indicators on continued firm demand. Closer to home, butter and cream prices are rising once again. This balancing act should be reflected in sustained local farm-gate prices.