NZX milk price calculator points above $10 after GDT lift
North Asian buyers including China, Japan and South Korea took more than half the latest GDT offer.
|November 4, 2026Listen to the full interview:
NZX’s milk price calculator gave a farmgate milk price of $10.43 after the previous Global Dairy Trade (GDT) auction, and the latest result points higher.
NZX head of dairy insights Cristina Alvarado says North Asian buyers, including China, Japan and South Korea, bought more than half of the product sold. “We were not expecting that almost 6% for whole milk powder,” she says.
She says strong demand for protein is lifting powder prices, while butter and anhydrous milk fat fall on an oversupply of fat.
She says a weaker New Zealand dollar lifts the milk price because dairy exports are paid in US dollars.
She says Fonterra may not narrow its forecast range until early December.
“It will be narrowing for sure. It’s just a matter of when.”
To learn more, visit nzx.com
Watch the full interview:
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