The forecast closing range of $5.80-$6kg/MS was also maintained.
This comes as Parmalat dropped the price to its Victoria, NSW Riverina and South Australian suppliers last week.
“Recent (GlobalDairyTrade) events have seen commodity prices stabilise while the Australian dollar has also weakened further off the back of a slowing Australian economy,” Mr Donnison said.
“Dry spring/summer conditions have had an impact on milk production in the southern hemisphere, firstly in Australia, and now in New Zealand.
“This coupled with a lower global milk price, which is affecting margins in markets including the EU and China, could impact supply. However, the full impact will take some time to play out and, in the meantime, the market remains volatile.
“The longer term outlook for the Australian dairy industry is still very positive.”
