Friday, November 16, 2018
 Dairy Prices Fall in the Latest Fonterra's Auction  

Prices of dairy products sold on Fonterra Cooperative Group's GlobalDairyTrade platform fell 3% to a two-month low in the latest auction.

The GDT-TWI Price dropped to $3,545 per metric ton from $3,666 at the last sale a fortnight ago. The price of whole milk powder, which typically accounts for more than half the product sold on the platform, dropped 3% to a three-month low $3,421 per metric ton.

Some 32,339 tons of product was sold at the auction for a total price of some $114.6 million.

Anhydrous milk fat prices sank 11% to $3,456, the biggest fall across all products. Cheddar prices declined 2.3% to $3,559 per metric ton, while milk protein concentrate fell 0.8% to $5,571 per ton.

Skim milk powder prices dropped 2.6% to $3,259 per metric ton, with the biggest decline coming from Dairy America's US low and medium heat regular skim milk powder.

The price of rennet casein bucked the trend, rising 1.1% to $7,730 per metric ton.

There were 117 winning bidders from 144 participants across 11 rounds at the latest sale. The number of qualified bidders rose to 575 from 558 at the last sale two weeks ago.

Additional Product Results from the February 15th globalDairyTrade auction

Whole Milk Powder (WMP)
Average Price (USD/MT FAS) $3,421/ ton ($1.55 / lb.) – down 3.0% from the February 1st auction

Anhydrous Milk Fat (AMF)
Average Price (USD/MT FAS) $3.546/ ton ($1.61 / lb.) – down 10.5% from February 1st auction

Skim Milk Powder (SMP)
Average Price (USD/MT FAS) $3,259/ ton ($1.48 / lb.) – down 2.6% from February 1st auction

Milk Protein Concentrate (MPC70)
Average Price (USD/MT FAS) $5,571/ ton ($2.52 / lb.) – down 0.8% from February 1st auction

Rennet Casein (RenCas)
Average Price (USD/MT FAS) $7,730/ ton ($3.50 / lb.) – up 1.1% from February 1st auction

Average Price (USD/MT FAS) $3,559/ ton ($1.61/lb.) – down 2.3% from February 1st auction

Source: TVNZ

Posted on Thursday, February 16, 2012 (Archive on Thursday, February 23, 2012)
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