Milk price index launched

09 Jul, 2018 11:08 AM
Comments
1
 
The website allows farmers to see an index of commodity prices received by Australian dairy processors for cheese, butter, skim milk powder and whole milk powder exports.
“The purpose of the retrospective index is to help build a marker of actual prices received ...
The website allows farmers to see an index of commodity prices received by Australian dairy processors for cheese, butter, skim milk powder and whole milk powder exports.

DAIRY farmers should be better able to understand and interpret commodity market price signals following the launch of the new Milk Price Index.

Agriculture Minister David Littleproud said farmers would be able to see an index of commodity prices received by Australian dairy processors for cheese, butter, skim milk powder and whole milk powder exports.

“There will also be a one-year forecast of prices that will be updated quarterly, along with regular global, national and regional commentary,” Mr Littleproud said.

A Regional, Retrospective Farmgate Milk Price Index will accompany the index, with farmers urged to provide price data via an online form.

“The purpose of the retrospective index is to help build a marker of actual prices received in each dairy region,” Australian Dairy Farmers president Terry Richardson said.

Mr Littleproud said the commodity milk price index would be an extra tool to help dairy farmers plan ahead, with more market information on commodity dairy prices and global conditions.

“Better price transparency and market signals for farmers is a good thing,” Mr Littleproud said. “We continue to consult industry and welcome feedback.”

The index is part of the government’s $579 million Dairy Support Package assisting farmers affected by retrospective cuts to farm gate milk prices in 2015-16 and is being managed by the Department of Agriculture.

The department will also work with industry to educate farmers on how best to use and interpret market signals from the index.

Deloitte Access Economics is providing the economic modelling and analysis and RM Consulting Group is developing the education resources for dairy farmers.

Dairy is Australia’s third largest rural industry by farmgate value, with $3.685 billion in farmgate production in 2016-17.

Date: Newest first | Oldest first

READER COMMENTS

bernhard
9/07/2018 1:50:55 PM, on Australian Dairyfarmer

This is rubbish compared to what was originally proposed

POST A COMMENT


Screen name *
Email address *
Remember me?
Comment *
 
A new definition of 'genetically modified' currently awaiting parliamentary approval could see a swathe of new grasses on the market within three years.
13 Nov 18 A new definition of "genetically modified" currently awaiting parliamentary approval could see a swathe of new...
A person normally breathes about 25,000 times a day, with the lungs taking in oxygen from the air and delivering it to the bloodstream.02 Nov 18 A person normally breathes about 25,000 times a day, with the lungs taking in oxygen from the air and delivering it...
light grey arrow
Olivia - what you fail to consider is that animals fed the crops you speak of aren't evolved to
light grey arrow
If that’s what they think the milk volume drop will be they are in for one hell of a shock. 200
light grey arrow
A well planned vegan diet is certainly not nutrient deficient. But aside from that, the entire
Amidst rising farm costs, Dairy Australia has developed a range of energy information resources to assist farmers to make smarter use of energy to reduce power bills.
13 Nov 18 Amidst rising farm costs, Dairy Australia has developed a range of energy information resources to assist farmers to...
Accurate and up-to-date paperwork is crucial for all dairy farmers. But as a farm manager, Allen Hook says the ability to keep precise records is what keeps him in a job.12 Nov 18 Accurate and up-to-date paperwork is crucial for all dairy farmers. But as a farm manager, Allen Hook says the...
Australian farm chemical manufacturer Nufarm has repaired its balance sheet and is now hunting for acquisition opportunities.25 Sep 16 Australian farm chemical manufacturer Nufarm has repaired its balance sheet and is now hunting for acquisition...
Monopoly market may confront cropping sector under mega-merger proposal.22 Sep 16 Monopoly market may confront cropping sector under mega-merger proposal.