Monday, November 19, 2018
 Dairy Product Prices Fall to Eight-Month Low  

Prices of dairy products fell by the most in eight months on Fonterra Cooperative Group's GlobalDairyTrade platform amid concern demand for commodities may be slowing with China's growth outlook.

The sale is the first on GlobalDairyTrade since Fonterra cut its 2011/12 forecast payout this month, citing the high New Zealand dollar, falling commodity prices and increased production from Northern Hemisphere rivals.

The GDT-TWI Price Index fell 4.5% compared to the last sale two weeks ago. The average winning price declined to US$3,396 a metric ton, the lowest since August 2010.

All prices fell and milk protein concentrate came in first with a 15 percent drop, followed by rennet casein and cheddar coming in at -12.9 percent and -11.3 percent respectively. Whole milk powder only fell by 2.6 percent while it's skim counterpart decreased the least at -2 percent.

There were 123 winning bidders over 10 rounds, out of 145 participating bidders. The number of qualified bidders rose to 592 from 580.

Additional Product Results from the March 20th GlobalDairyTrade auction

Whole Milk Powder (WMP)
Average Price (USD/MT FAS) $3,316/ ton ($1.50 / lb.) – down 2.6% from the March 6th auction

Anhydrous Milk Fat (AMF)
Average Price (USD/MT FAS) $3,284 ton ($1.49 / lb.) – down 9.5% from March 6th auction

Skim Milk Powder (SMP)
Average Price (USD/MT FAS) $3,125/ ton ($1.42 / lb.) – down 2.0% from March 6th auction

Milk Protein Concentrate (MPC70)
Average Price (USD/MT FAS) $4,345/ ton (1.973 / lb.) – down 15.0% from March 6th auction

Rennet Casein (RenCas)
Average Price (USD/MT FAS) $6,545/ ton ($2.97 / lb.) – down 12.9% from March 6th auction

Average Price (USD/MT FAS) $3,114/ ton ($1.41/lb.) – down 11.3% from March 6th auction

Source: GlobalDairyTrade Website

Posted on Wednesday, March 21, 2012 (Archive on Wednesday, March 28, 2012)
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