Wednesday, 22nd July, 2020

In the midst of online field-days there was good news for dairy farmers. Fonterra has upgraded its milk price forecast for the 2021 dairy season to a range of $5.90-$6.90/kg of milk solids, from its initial $5.40-$6.90/kg range. That nudges the mid-point of the forecast range to $6.40, from $6.15. Our current forecast is $6.50, which we will be reviewing after this Tuesday night’s GDT dairy auction – as we noted in our Commodities Weekly. Check out the full report here.