Chief Operating Officer for Farm Source Fonterra, Miles Hurrell spoke to The Country's Jamie Mackay today about the latest GlobalDairyTrade auction result.
Overall, the GDT price index fell by 2.4 per cent, and prices fell for all products on offer apart from cheddar and rennet casein, which gained by 1.9 per cent and 0.9 per cent, respectively.
Miles says Fonterra is a "little but surprised" with the drop but "when you look at all the fundamentals you can probably understand the rational why customers sat on the fence a little but this time round."
Also in today's interview, Jamie and Miles talk about Irish milk production, and the effect of New Zealand's wet spring weather on our own milk output.
Listen to the full interview in the Soundcloud embed below:
