Monday, November 12, 2018
 Powder Prices Fall in Fonterra Auction  

Prices of dairy products fell for the first time in three sales on Fonterra Cooperative Group’s GlobalDairyTrade platform, with declines in most of the products on offer.

The GDT-TWI Price Index fell 1.6 percent compared to the last sale two weeks ago. The average winning price declined to US$3,688 a metric ton from US$3,737 a ton in the Dec. 6 sale. The price of whole milk powder declined 1.5 percent to US$3,589.

Prices of commodities have declined through much of December amid speculation global growth is faltering in the face of Europe’s debt crisis. The Thomson Reuters/Jefferies CRB Commodity Index of 19 commonly traded commodities touched a two-month low last week. Still, Fonterra this month raised its forecast payout to farmers for 2012, citing a ‘modest’ recovery in prices over the past two months.

The average winning price for skim milk powder declined 3.2 percent to US$3,312 a metric ton. Among other products on offer, anhydrous milk fat rose 4.8 percent to US$4,183 a ton while butter milk powder dropped 3.8 percent to US$3,280 a ton.

Cheddar climbed 1 percent to US$3,601 a ton and milk protein concentrate dropped 6.7 percent to US$5,860 a ton. Rennet casein declined 6.9 percent to US$8,122 a ton.

There were 119 winning bidders over 10 rounds, out of 156 participating bidders. The number of qualified bidders rose to 504 from 491 in the last sale two weeks ago.

Additional Product Results from the December 20th globalDairyTrade auction
Whole Milk Powder (WMP)
Average Price (USD/MT FAS) $3,589/ ton ($1.62 / lb.) – down 1.5% from the December 6th auction
Anhydrous Milk Fat (AMF)
Average Price (USD/MT FAS) $4,183/ ton ($1.89 / lb.) – up 4.8% from December 6th auction
Skim Milk Powder (SMP)
Average Price (USD/MT FAS) $3,312/ ton ($1.50 / lb.) – down 3.2% from December 6th auction
Milk Protein Concentrate (MPC70)
Average Price (USD/MT FAS) $5,860/ ton ($2.65 / lb.) – down 6.7% from December 6th auction
Rennet Casein (RenCas)
Average Price (USD/MT FAS) $8,122/ ton ($3.68 / lb.) – down 6.9% from December 6th auction
Butter Milk Powder (BMP)
Average Price (USD/MT FAS) $3,280/ ton ($1.48 / lb.) – down 3.8% from December 6th auction
Average Price (USD/MT FAS) $3,601/ ton ($1.63/lb.) – up 1.0% from December 6th auction

Source: BusinessDesk


Posted on Wednesday, December 21, 2011 (Archive on Wednesday, December 28, 2011)
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