EU farming lobby Copa-Cogeca has called on the Commission to exercise caution in managing EU dairy stocks, as the struggle to sell off intervention stocks continues. Results of the third tender of the intervention sales of butter and skimmed milk powder (SMP) came out and once again the Commission was unable to shift any SMP.

Fonterra has revealed that prices were down sharply at its latest auction. The New Zealand-based dairy processor said average prices for anhydrous milk fat, skim milk powder and whole milk powder fell 13.7 per cent across all contracts and contract periods after its latest globalDairyTrade trading event.

Hilmar Cheese wants to issue bonds worth as much as $24.5 million to help fund the expansion of a plant outside Dalhart, Texas. The addition, expected to cost more than $100 million, would allow the facility to double capacity and produce 640-pound blocks of American-style cheese.