Fonterra sells whole and skim milk powder on the twice-monthly global auction, which has attracted bidders from more than 80 countries. Photo / Christine Cornege
Fonterra sells whole and skim milk powder on the twice-monthly global auction, which has attracted bidders from more than 80 countries. Photo / Christine Cornege
Average prices of dairy products rose to the highest level since July overnight, with gains in both whole and skim milk powder, the biggest products on offer.
The GDT-TWI Price Index rose 2.6 per cent, the second increase in a row of that size, according to the latestresults posted on the globalDairyTrade auction website. The average winning price rose to US$3,737 a metric tonne. All seven products on offer gained.
Whole milk powder rose 2 per cent to US$3,637 a tonne and skim milk powder gained 2.6 per cent to US$3,424. Anhydrous milk fat climbed 12 per cent to US$4,013 a tonne and milk protein concentrate gained 0.5 per cent to US$6,280 a tonne.
Rennet casein rose 3.6 per cent to US$8,721 a tonne. Butter milk powder rose 14.4 per cent to US$3,410 a tonne and cheddar rose 2.1 per cent to US$3,572 a tonne.
There were 111 winning bidders from 173 participants over 14 rounds. The platform has 491 qualified bidders, up from 482 at the last auction.
