Prices of dairy products sold on Fonterra’s GlobalDairyTrade platform fell for the third time in four sales with declines for all six product types on offer.

The GDT-TWI Price Index fell 0.9 percent from the last sale a fortnight ago. The average winning price across all products dropped to $3,666 per metric ton.

The price of whole milk powder fell 0.9 percent to $3,533. Whole milk powder typically accounts for more than half the product sold on the platform.

A total of 28,011 metric tons of product was sold, down from 31,026 tons in the previous auction.

Skim milk powder fell 0.5 percent to $3,296 a metric ton. Anhydrous milk fat dropped 3.5 percent to $3,942 a ton and cheddar declined 1.1 percent to $3,640 a ton.

Milk protein concentrate fell 4.9 percent to $5,569 a ton and rennet casein dropped 4.3 percent to $7,715 a ton.

There were 118 winning bidders from a total 155 participants across 12 rounds at the latest sale. The number of qualified bidders increased to 558 from 533 at the last sale two weeks ago.

Additional Product Results from the February 1st globalDairyTrade auction

Whole Milk Powder (WMP)
Average Price (USD/MT FAS) $3,533/ ton ($1.60 / lb.) – down 0.9% from the January 17th auction

Anhydrous Milk Fat (AMF)
Average Price (USD/MT FAS) $3.942¬/ ton ($1.78 / lb.) – down 3.5% from January 17th auction

Skim Milk Powder (SMP)
Average Price (USD/MT FAS) $3,296/ ton ($1.50 / lb.) – down 0.5% from January 17th auction

Milk Protein Concentrate (MPC70)
Average Price (USD/MT FAS) $5,569/ ton ($2.52 / lb.) – down 4.9% from January 17th auction

Rennet Casein (RenCas)
Average Price (USD/MT FAS) $7,715/ ton ($3.50 / lb.) – down 4.3% from January 17th auction

Cheddar
Average Price (USD/MT FAS) $3,640/ ton ($1.65/lb.) – down 1.1% from January 17th auction

Source: New Zealand Herald

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10782873