Milk powder price edges up

The price for whole milk powder (WMP) edged up 0.8 per cent at Fonterra's monthly internet-based auction overnight.

The average price for WMP on the globalDairyTrade sales platform rose US$25 ($35.82) a tonne to US$3281 a tonne.

GlobalDairyTrade manager Paul Grave said the result reflected a relatively stable market during the past four weeks. "There is still an element of uncertainty as to how supply and demand factors will influence prices over the coming months," Grave said. "Buyers are focused on ensuring their short-to-medium-term supply requirements have been secured."

For anhydrous milk fat, the average price fell 5.4 per cent from February to US$3959 a tonne.