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  • FSF5.92


  • Open 5.94 High 5.94 Low 5.92 Bid Price 5.91

    Offer Price 5.92 Value 658496.22 Volume 111071

Current as of 26/08/16 07:39PM NZST

Dairy prices fall 1.6pc overnight, first fall in three sales

Photo / Brett Phibbs
Photo / Brett Phibbs

Prices of dairy products fell for the first time in three sales on Fonterra's GlobalDairyTrade platform, with declines in most of the products on offer.

The GDT-TWI Price Index fell 1.6 per cent compared to the last sale two weeks ago. The average winning price declined to US$3,688 a metric tonne from US$3,737 a tonne in the December 6 sale. The price of whole milk powder declined 1.5 per cent to US$3,589.

See more details of the auction here.

Prices of commodities have declined through much of December amid speculation global growth is faltering in the face of Europe's debt crisis. The Thomson Reuters/Jefferies CRB Commodity Index of 19 commonly traded commodities touched a two-month low last week. Still, Fonterra this month raised its forecast payout to farmers for 2012, citing a 'modest' recovery in prices over the past two months.

The average winning price for skim milk powder declined 3.2 per cent to US$3,312 a metric tonne. Among other products on offer, anhydrous milk fat rose 4.8 per cent to US$4,183 a tonne while butter milk powder dropped 3.8 per cent to US$3,280 a tonne.

Cheddar climbed 1 per cent to US$3,601 a tonne and milk protein concentrate dropped 6.7 per cent to US$5,860 a tonne. Rennet casein declined 6.9 per cent to US$8,122 a tonne.

There were 119 winning bidders over 10 rounds, out of 156 participating bidders. The number of qualified bidders rose to 504 from 491 in the last sale two weeks ago.

- BusinessDesk

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