Milk processor agrees to pay $42 million.
Fourth-generation dairy farmer, Tahlia McSwain, from Chapman Hill in Western Australia has been announced as the 2019 Holstein Australia Youth UK Exchange winner.
Banks are still forecasting higher global milk prices for season 2019/20 but are warning that prices are close to hitting their peak.
Saputo has announced an opening milk price of $6.80 a kilogram milk solids and also announced a step up to finish the 2018-19 season at $6.15/kg MS.
Opening milk price announcements for southern dairy farmers continue to soar to new heights with Australian Consolidated Milk opening at $7 a kilogram milk solids.
China has tightened rules for the sale of overseas infant formula into the country and set a target to be 60 per cent self-sufficiency in three years.
Big falls in cheese and butter prices saw the Global Dairy Trade price index to fall 3.4 per cent in Tuesday night's auction.
World Milk Day highlights the importance of dairy to the global economy, farmer's livelihoods and people's health