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GDT result disappointing but not unexpected
18 November 2015
GDT result disappointing
but not unexpected
This morning’s Global Dairy Trade auction, which delivered a third straight drop in the price index, was disappointing but not unexpected, according to Federated Farmers Dairy Industry Chair Andrew Hoggard.
“Other indicators are also showing weak demand and, while it’s a concern to have had three drops in a row, this is balanced to some extent by the increase in the earnings per share announced by Fonterra earlier this week, which does give a little morale booster by signalling that improvements are happening in the value add space at least, within Fonterra.”
“Farmers are a pragmatic bunch and have long since accepted that this will be a difficult season. While we obviously hope for stronger prices, dairy farmers have long since taken steps to reduce costs and equip themselves to weather the storm,” says Mr Hoggard.
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