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Home / Business / Companies / Agribusiness

Dairy prices up 1.8pc overnight (+graphic)

BusinessDesk
16 Oct, 2012 06:30 PM2 mins to read

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Photo / Mark Mitchell

Photo / Mark Mitchell

Prices of dairy products rose in Fonterra's latest GlobalDairyTrade auction, with whole milk powder posting its biggest gain since March last year.

The GDT-TWI Price Index rose 1.8 per cent compared to the last sale two weeks ago. The average winning price gained to US$3,399 a metric tonne. Whole milk powder, the biggest product by volume, climbed 9.2 per cent to US$3,421 a tonne, the biggest gain since March 1 last year, when the price jumped 9.6 per cent. Skim milk powder rose 0.8 per cent to US$3,325 a tonne.

See more details of the auction here.

The latest sale marks the fifth in six where prices have gained and pushes the GDT-TWI price to the highest since March this year. The Thomson Reuters/Jefferies CRB Commodity Index has also recovered from its lows this year, set in June.

The total volume sold fell to 52,828 tonnes from 59,307 two weeks ago.

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Anhydrous milk fat fell 3.2 per cent to US$2,879 a tonne and cheddar dropped 9.9 per cent to US$2,990 a tonne. Butter milk powder rose 4.3 per cent to US$3,289 a tonne. Lactose wasn't offered.

Milk protein concentrate rose 4.2 per cent to US$6,117 a tonne and rennet casein fell 2.2 per cent to US$7,254 a tonne.

There were 134 winning bidders over 15 rounds. There were 178 participating bidders out of a total number of qualified bidders of 725.

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World dairy prices up 2.4pc

18 Sep 07:30 PM
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19 Sep 12:15 AM
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Fonterra net profit down 19pc

25 Sep 11:25 PM
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Fonterra's $8.2m golden handshake

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