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GDT Update - 2nd May 2023

Another Positive Auction

Great to see another small lift at the GDT this morning. Little wins like this gives the industry confidence that we are heading in the right direction. The NZX forecast below, using the latest results, has a predicted Farmgate Milk Price of $7.75kgMS. Although there has been a few reductions to farm working expenses, the continued rise in interest rates will put pressure on farm profitability. 

There is still a long way to go and it is crucial to review where you expenditure will conclude for the 22-23 season and use this as a baseline budget for the 23-24 season that approaches.